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

Logitech International SA / Equity Bottom-Up

<ul><li>Logitech International S.A. presented mixed results in its second quarter of fiscal year 2026, accentuating its robust strategic execution despite a mixed global market environment.</li><li>The company reported achieving mid-single-digit net sales growth and strong profitability, with non-GAAP operating income rising by 19% year-over-year, reaching $230 million.</li><li>This underscores the efficacy of Logitech’s focus on cost management and its ability to execute well amidst challenges, notably the market conditions in the Americas.</li></ul>

Logitech International S.A. presented mixed results in its second quarter of fiscal year 2026, accentuating its robust strategic execution despite a mixed global market environment.The company reported achieving mid-single-digit net sales growth and strong profitability, with non-GAAP operating income rising by 19% year-over-year, reaching $230 million.This underscores the efficacy of Logitech’s focus on cost management and its ability to execute well amidst challenges, notably the market conditions in the Americas.

Logitech’s Cash Machine Keeps Running – Will $1.4 Billion Power Its Next Big Move?

<ul><li>Logitech International delivered a strong performance in the first quarter of its fiscal year 2026.</li><li>The company's net sales increased by 5% year-over-year in constant currency, reflecting robust demand across both consumer and business-to-business (B2B) segments.</li><li>All key product categories reported growth, bolstered by strategic initiatives focusing on innovation and operational efficiency.</li></ul>

Logitech International delivered a strong performance in the first quarter of its fiscal year 2026.The company's net sales increased by 5% year-over-year in constant currency, reflecting robust demand across both consumer and business-to-business (B2B) segments.All key product categories reported growth, bolstered by strategic initiatives focusing on innovation and operational efficiency.

Logitech International: Resilience in Gaming Sector to Maintain Momentum In A Highly Competitive Landscape!

<ul><li>Logitech International has reported strong financial results for its fiscal year 2025, showcasing significant progress across multiple strategic areas, albeit amid ongoing uncertainties in trade policies and macroeconomic conditions.</li><li>The company achieved a 7% net sales growth in constant currency, driven by broad-based performance across geographies and product categories.</li><li>It continues to hold the #1 or #2 market position in 11 of the 13 categories it competes in, highlighting its competitive market presence.</li></ul>

Logitech International has reported strong financial results for its fiscal year 2025, showcasing significant progress across multiple strategic areas, albeit amid ongoing uncertainties in trade policies and macroeconomic conditions.The company achieved a 7% net sales growth in constant currency, driven by broad-based performance across geographies and product categories.It continues to hold the #1 or #2 market position in 11 of the 13 categories it competes in, highlighting its competitive market presence.

Logitech International: How Is The Management Navigating Tariff Troubles & Market Volatility To Stabilize Its Financial Performance?

<ul><li>Logitech recently reported strong financial results for the third quarter of fiscal year 2025, showcasing robust demand across various products and geographies, leading to a rise in their annual outlook.</li><li>The company's net sales increased by 6% year-over-year, with a notable 8% growth in demand, driven primarily by strategic focuses introduced the previous year.</li><li>One of the key highlights for Logitech was the gaming segment, which saw double-digit growth of 13%, propelled by the launch of 16 new gaming products before the holiday season.</li></ul>

Logitech recently reported strong financial results for the third quarter of fiscal year 2025, showcasing robust demand across various products and geographies, leading to a rise in their annual outlook.The company's net sales increased by 6% year-over-year, with a notable 8% growth in demand, driven primarily by strategic focuses introduced the previous year.One of the key highlights for Logitech was the gaming segment, which saw double-digit growth of 13%, propelled by the launch of 16 new gaming products before the holiday season.

Logitech International: Geographical Diversification & Market Penetration To Help Tilt The Competitive Dynamics In Its Favor? - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

TSMC (Taiwan Semiconductor Manufacturing) / Technical Analysis

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>We believe there is significant evidence that global equities (MSCI ACWI) have bottomed, and a year-end rally has begun. Buys highlighted in global Technology, Discretionary, Real Estate, and Steel/Mining.</li>
<li>We discussed in our prior Int'l Compass (11/2/23) how the false breakdown in MSCI ACWI (local currency) was bullish, and a potent rally has ensued. We expect more upside ahead.</li>
<li>Now getting bullish 3+ month downtrend reversals and false breakdowns in the EURO STOXX 50, ACWI-US, MSCI ACWI ex-US (ACWX-US), MSCI EM (EEM-US), and EAFE (EFA-US). Major risk-on signals everywhere.</li>
</ul>


We believe there is significant evidence that global equities (MSCI ACWI) have bottomed, and a year-end rally has begun. Buys highlighted in global Technology, Discretionary, Real Estate, and Steel/Mining.
We discussed in our prior Int'l Compass (11/2/23) how the false breakdown in MSCI ACWI (local currency) was bullish, and a potent rally has ensued. We expect more upside ahead.
Now getting bullish 3+ month downtrend reversals and false breakdowns in the EURO STOXX 50, ACWI-US, MSCI ACWI ex-US (ACWX-US), MSCI EM (EEM-US), and EAFE (EFA-US). Major risk-on signals everywhere.


Year-End Rally Underway; Many Bullish Reversals/False Breakdowns; Buys: Tech, Cons. Disc., RE, Steel

Switzerland

Logitech International S.A. manufactures personal computer input devices.  The Company produces computer mice which help the user move the cursor around the computer screen quickly, trackballs, game controllers, keyboards, PC video cameras, and multimedia speakers.  The Company sells its products worldwide.

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Logitech International SA (LOGN SW)

Logitech’s Cash Machine Keeps Running – Will $1.4 Billion Power Its Next Big Move?

Logitech International S.A. presented mixed results in its second quarter of fiscal year 2026, accentuating its robust strategic execution despite...

Baptista Research

Logitech International: Resilience in Gaming Sector to Maintain Momentum In A Highly Competitive Landscape!

Logitech International delivered a strong performance in the first quarter of its fiscal year 2026. The company's net sales increased by 5%...

Baptista Research

Logitech International: How Is The Management Navigating Tariff Troubles & Market Volatility To Stabilize Its Financial Performance?

Logitech International has reported strong financial results for its fiscal year 2025, showcasing significant progress across multiple strategic...

Baptista Research

Logitech International: Geographical Diversification & Market Penetration To Help Tilt The Competitive Dynamics In Its Favor? - Major Drivers

Logitech recently reported strong financial results for the third quarter of fiscal year 2025, showcasing robust demand across various products...

Baptista Research

Year-End Rally Underway; Many Bullish Reversals/False Breakdowns; Buys: Tech, Cons. Disc., RE, Steel

There is significant evidence that global equities $ACWI have bottomed, and a year-end rally has begun. It all started when we discussed that the...

Vermilion Research

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