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.

Thematic (Sector/Industry)

<ul><li>Lattice is just too expensive for what it is. It’s one of the highest multiples in the space, but I acknowledge we are closer to the trough than the peak.</li><li><p>Tokyo Electron continues to be bullish high aspect etch and reports that they are winning in DRAM and hopefully in NAND in the future.</p></li><li><p>Arista says that AI revenue is yet to come, and 800G will mostly be in 2025, not 2024. The market got ahead of itself.</p></li></ul>

Lattice is just too expensive for what it is. It’s one of the highest multiples in the space, but I acknowledge we are closer to the trough than the peak.Tokyo Electron continues to be bullish high aspect etch and reports that they are winning in DRAM and hopefully in NAND in the future.Arista says that AI revenue is yet to come, and 800G will mostly be in 2025, not 2024. The market got ahead of itself.

Earnings (LSCC, ANET, GFS, Tokyo Electron, SITM, ENTG, AMAT)

<ul><li>Another week in earnings, the big theme I can point out is the continued and persistent weakness in the Industrial market.</li><li>Reminder: in a first-in-first-out (FIFO) framework, the first into the inventory correction were PCs and Smartphones.</li><li>Then, networking and data center, and we are now seeing Industrial start their inventory correction cycle. I don’t think this is the last we will hear about this. </li></ul>

Another week in earnings, the big theme I can point out is the continued and persistent weakness in the Industrial market.Reminder: in a first-in-first-out (FIFO) framework, the first into the inventory correction were PCs and Smartphones.Then, networking and data center, and we are now seeing Industrial start their inventory correction cycle. I don’t think this is the last we will hear about this. 

Earnings Season Post (ANET, AMKR, RMBS, LSCC, AMD, Advantest, SLAB, QCOM, QRVO, ENTG, SITM...)

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

Baptista Research

Independent research on the U.S. markets

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Equity Bottom-Up

<ul><li>Lattice Semiconductor had impressive results in the first quarter and managed an all-around beat with a significant quarterly revenue increase of 22% year over year and non-GAAP net income that increased by 36% year over year.</li><li>Weaker industry-wide server-end market demand was the main cause of the segment's sequential revenue loss.</li><li>We give Lattice Semiconductor Corporation a 'Hold' rating with a revised target price.</li></ul>

Lattice Semiconductor had impressive results in the first quarter and managed an all-around beat with a significant quarterly revenue increase of 22% year over year and non-GAAP net income that increased by 36% year over year.Weaker industry-wide server-end market demand was the main cause of the segment's sequential revenue loss.We give Lattice Semiconductor Corporation a 'Hold' rating with a revised target price.

Lattice Semiconductor Corporation: Advances With The Lattice Avant Platform – Key Drivers

<ul><li>Lattice Semiconductor had a solid 2022 and ended the year on a positive note with an all-around beat.</li><li>The company increased its product portfolio and its core strategic markets for industrial, automotive, communications, and computing had a 28% increase in annual revenue.</li><li>Besides, the industrial and automotive market experienced double-digit growth for the third year as full-year revenue grew by 41%.</li></ul>

Lattice Semiconductor had a solid 2022 and ended the year on a positive note with an all-around beat.The company increased its product portfolio and its core strategic markets for industrial, automotive, communications, and computing had a 28% increase in annual revenue.Besides, the industrial and automotive market experienced double-digit growth for the third year as full-year revenue grew by 41%.

Lattice Semiconductor Corporation: Major Drivers

<ul><li>This is our first report on Lattice Semiconductor.</li><li>The company delivered impressive results in the third quarter, with an all-around beat and a quarterly revenue growth of 31% year over year.</li><li>Overall, we initiate coverage on the stock of Lattice Semiconductor Corporation with a ‘Hold’ rating.</li></ul>

This is our first report on Lattice Semiconductor.The company delivered impressive results in the third quarter, with an all-around beat and a quarterly revenue growth of 31% year over year.Overall, we initiate coverage on the stock of Lattice Semiconductor Corporation with a ‘Hold’ rating.

Lattice Semiconductor Corporation: Initiation of Coverage – Strong Macro & Other Drivers

United States

Lattice Semiconductor Corporation designs, develops, and markets high speed programmable logic devices.  The Company's products provide electronic systems customers with quickly designed, easily configured components.  Lattice markets its products to original equipment manufacturers of communication, computing, industrial, and military systems.

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Lattice Semiconductor (LSCC US)

Earnings (LSCC, ANET, GFS, Tokyo Electron, SITM, ENTG, AMAT)

Lattice is just too expensive for what it is. It’s one of the highest multiples in the space, but I acknowledge we are closer to the trough than...

Fabricated Knowledge

Earnings Season Post (ANET, AMKR, RMBS, LSCC, AMD, Advantest, SLAB, QCOM, QRVO, ENTG, SITM...)

Another week in earnings, the big theme I can point out is the continued and persistent weakness in the Industrial market.

Fabricated Knowledge

Lattice Semiconductor Corporation: Advances With The Lattice Avant Platform – Key Drivers

Lattice Semiconductor had impressive results in the first quarter and managed an all-around beat with a significant quarterly revenue increase of...

Baptista Research

Lattice Semiconductor Corporation: Major Drivers

Lattice Semiconductor had a solid 2022 and ended the year on a positive note with an all-around beat. The company increased its product portfolio...

Baptista Research

Lattice Semiconductor Corporation: Initiation of Coverage – Strong Macro & Other Drivers

This is our first report on Lattice Semiconductor. The company delivered impressive results in the third quarter, with an all-around beat and a...

Baptista Research

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