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

Equity Bottom-Up

<ul>
<li>Marvell set a long-term revenue target of $70B to $90B for FY31 ($80B at the midpoint), representing a 55%–60% CAGR and a 10x expansion over FY26 ($8.2B).</li>
<li>Newly installed CFO Dan Dern introduced the “30 in 30” milestone, projecting non-GAAP EPS of greater than $30 per share in calendar 2030 (FY31).</li>
<li>Marvell claims it can achieve these new financial targets  without needing any new home run design winds or any new sockets. Apparently, they have what they need today.</li>
</ul>


Marvell set a long-term revenue target of $70B to $90B for FY31 ($80B at the midpoint), representing a 55%–60% CAGR and a 10x expansion over FY26 ($8.2B).
Newly installed CFO Dan Dern introduced the “30 in 30” milestone, projecting non-GAAP EPS of greater than $30 per share in calendar 2030 (FY31).
Marvell claims it can achieve these new financial targets  without needing any new home run design winds or any new sockets. Apparently, they have what they need today.


Marvell Investor Day 2026. Key Takeaways & Full Transcript

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.

<ul><li>Marvell Technology Inc. reported record second-quarter fiscal 2027 revenue of $2.739 billion, up 13% sequentially and 37% year-over-year, exceeding the midpoint of guidance.</li><li>Non-GAAP EPS reached $0.94.</li><li>Data center generated 79% of total revenue and grew 46% year-over-year.</li></ul>

Marvell Technology Inc. reported record second-quarter fiscal 2027 revenue of $2.739 billion, up 13% sequentially and 37% year-over-year, exceeding the midpoint of guidance.Non-GAAP EPS reached $0.94.Data center generated 79% of total revenue and grew 46% year-over-year.

Marvell Technology Targets $12 Billion — AI Infrastructure Reshapes The Growth Mix!

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Cross Asset Strategy

<ul>
<li>Thai electronics stocks continue to benefit from global technology gains, although prices increasingly reflect an Al valuation premium.</li>
<li>Oil supply tightness is easing, with September Middle East crude exports recovering to 81% of pre-war levels.</li>
<li>The World Bank raised its 2026 Thailand GDP growth forecast to 2.0% from 1.3%, driven by Al-related component exports.</li>
</ul>


Thai electronics stocks continue to benefit from global technology gains, although prices increasingly reflect an Al valuation premium.
Oil supply tightness is easing, with September Middle East crude exports recovering to 81% of pre-war levels.
The World Bank raised its 2026 Thailand GDP growth forecast to 2.0% from 1.3%, driven by Al-related component exports.


CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

<ul>
<li>The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant.</li>
<li>
By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.
</li>
<li>
Previous portfolio returned -3.5% vs. MSCI World (-1.3%) – underperformed the benchmark by
</li>
</ul>


The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant.

By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.


Previous portfolio returned -3.5% vs. MSCI World (-1.3%) – underperformed the benchmark by



Global Top Fund Managers (Shariah) Portfolio (14-Sep-2026)

<ul>
<li>The strategy seeks to invest in Shariah compliant stocks and in themes that are driving returns globally.</li>
<li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li>
<li>Previous portfolio returned -9.3% vs. MSCI World (-1.3%) – underperformed the benchmark by -8%.</li>
</ul>


The strategy seeks to invest in Shariah compliant stocks and in themes that are driving returns globally.
By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.
Previous portfolio returned -9.3% vs. MSCI World (-1.3%) – underperformed the benchmark by -8%.


Global Thematic (Shariah) Portfolio (14-Sep-2026)

United States

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide.

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Marvell Technology (MRVL US)

Marvell Investor Day 2026. Key Takeaways & Full Transcript

Marvell claims it can achieve these new financial targets without needing any new home run design winds or any new sockets. Apparently, they have...

William Keating

Marvell Technology Targets $12 Billion — AI Infrastructure Reshapes The Growth Mix!

Marvell Technology Inc. reported record second-quarter fiscal 2027 revenue of $2.739 billion, up 13% sequentially and 37% year-over-year,...

Baptista Research

SET Index Outlook

Thai electronics stocks continue to benefit from global technology gains, although prices increasingly reflect an Al valuation premium. Oil supply...

Krungthai XSpring

Global Top Fund Managers (Shariah) Portfolio (14-Sep-2026)

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant. By...

Crea8

Global Thematic (Shariah) Portfolio (14-Sep-2026)

The strategy seeks to invest in Shariah compliant stocks and in themes that are driving returns globally. By adopting a portfolio of stocks...

Crea8

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Market Cap (USDm)

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