Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>KLA Corporation reported strong financial results for the March quarter of 2025, with revenues of $3.06 billion, slightly exceeding the midpoint of their guidance.</li><li>Their non-GAAP diluted earnings per share (EPS) of $8.41 and GAAP EPS of $8.16 also met the upper end of expectations.</li><li>This performance was largely driven by robust demand in advanced logic, high-bandwidth memory (HBM), and significant contributions from its advanced packaging businesses.</li></ul>

KLA Corporation reported strong financial results for the March quarter of 2025, with revenues of $3.06 billion, slightly exceeding the midpoint of their guidance.Their non-GAAP diluted earnings per share (EPS) of $8.41 and GAAP EPS of $8.16 also met the upper end of expectations.This performance was largely driven by robust demand in advanced logic, high-bandwidth memory (HBM), and significant contributions from its advanced packaging businesses.

KLA Corporation: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!

<ul><li>KLA Corporation reported strong financial results for both the December 2024 quarter and the entire calendar year, showcasing resilience and solid growth amidst a challenging industry backdrop.</li><li>The company achieved record revenue of $10.85 billion for the year, marking a 12% increase year-over-year, with their Process Control revenue growing over 12%, indicating an increase in market share.</li><li>This was matched by a robust Service business performance, which grew 15% to $2.5 billion.</li></ul>

KLA Corporation reported strong financial results for both the December 2024 quarter and the entire calendar year, showcasing resilience and solid growth amidst a challenging industry backdrop.The company achieved record revenue of $10.85 billion for the year, marking a 12% increase year-over-year, with their Process Control revenue growing over 12%, indicating an increase in market share.This was matched by a robust Service business performance, which grew 15% to $2.5 billion.

KLA Corporation: Inspection & Metrology Advancements To Possibly Disrupt the Market! - Major Drivers

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

<ul><li>KLA had a rare miss. The guidance was a bit light for the inspection execution machine.</li><li>KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.</li><li>KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91</li></ul>

KLA had a rare miss. The guidance was a bit light for the inspection execution machine.KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Q423 revenues of $2.49 billion, marginally above the guided midpoint, up 3.6% QoQ but down 15.6% YoY. Net income was $583 million, down $158 million QoQ.</li>
<li>Current quarter guidance of $2.3 billion, down 8% QoQ and also down around 5% YoY</li>
<li>Interesting Q&amp;A discussion on backlog. KLAC's order book is risker than their peers due to their shorter lead times. Something to watch...</li>
</ul>


Q423 revenues of $2.49 billion, marginally above the guided midpoint, up 3.6% QoQ but down 15.6% YoY. Net income was $583 million, down $158 million QoQ.
Current quarter guidance of $2.3 billion, down 8% QoQ and also down around 5% YoY
Interesting Q&amp;A discussion on backlog. KLAC's order book is risker than their peers due to their shorter lead times. Something to watch...


<ul><li>KLA Corporation delivered an impressive performance for the September 2024 quarter, exceeding expectations with solid execution and heightened demand across its leading-edge logic and memory sectors.</li><li>Revenue reached $2.84 billion, and non-GAAP diluted earnings per share (EPS) came in at $7.33, both signaling strong operational and financial stability.</li><li>Year-over-year and sequential growth in revenue underscored KLA’s robust financial footing, while GAAP diluted EPS was also notable at $7.01, exceeding guidance.</li></ul>

KLA Corporation delivered an impressive performance for the September 2024 quarter, exceeding expectations with solid execution and heightened demand across its leading-edge logic and memory sectors.Revenue reached $2.84 billion, and non-GAAP diluted earnings per share (EPS) came in at $7.33, both signaling strong operational and financial stability.Year-over-year and sequential growth in revenue underscored KLA’s robust financial footing, while GAAP diluted EPS was also notable at $7.01, exceeding guidance.

KLA Corporation’s Bold Moves in Semiconductor Tech—Can They Keep Up the Momentum? - Major Drivers

United States

KLA-Tencor Corporation manufactures yield management and process monitoring systems for the semiconductor industry.  The Company's systems are used to analyze product and process quality at critical steps in the manufacture of circuits and provide feedback so that fabrication problems can be identified. KLA-Tencor operates sales, service, and application centers worldwide.

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KLA-Tencor Corp (KLAC US)

KLA Corporation: The 6 Most Significant Forces Steering Its Performance into 2025 & Beyond!

KLA Corporation reported strong financial results for the March quarter of 2025, with revenues of $3.06 billion, slightly exceeding the midpoint...

Baptista Research

KLA Corporation: Inspection & Metrology Advancements To Possibly Disrupt the Market! - Major Drivers

KLA Corporation reported strong financial results for both the December 2024 quarter and the entire calendar year, showcasing resilience and solid...

Baptista Research

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Another week of earnings, with KLA having a rare miss and the guidance being a bit light for the inspection execution machine.

Fabricated Knowledge

KLAC. Looks a Lot Like LRCX!

Q423 $2.49 billion, +3.6% QoQ, -15.6% YoY. Net income was $583 million, down $158 million QoQ. Q124 guidance of $2.3 billion, -8% QoQ -5% YoY,...

William Keating

KLA Corporation’s Bold Moves in Semiconductor Tech—Can They Keep Up the Momentum? - Major Drivers

KLA Corporation delivered an impressive performance for the September 2024 quarter, exceeding expectations with solid execution and heightened...

Baptista Research

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