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

Thematic (Sector/Industry)

In a surprise move, <a href="https://www.smartkarma.com/entities/16764" target="_blank" data-smartkarma-citation="entities:16764:1">Intel Corp (INTC US)</a> former president, Renee James, yesterday launched a new startup company called Ampere, focused on developing ARM-based servers CPUs for the data center market- details from Fortune magazine <a href="http://fortune.com/2018/02/05/intel-president-renee-james-ampere-computing/" target="_blank">here</a>. In the wake of former CEO Paul Otellini's decision to retire from Intel in 2013, James collaborated with Brian Krzanich to put a joint proposal to the Intel board of directors on how they could jointly run the company. The result of that proposal saw Krzanich…

In a surprise move, Intel Corp (INTC US) former president, Renee James, yesterday launched a new startup company called Ampere, focused on developing ARM-based servers CPUs for the data center market- details from Fortune magazine here. In the wake of former CEO Paul Otellini's decision to retire from Intel in 2013, James collaborated with Brian Krzanich to put a joint proposal to the Intel board of directors on how they could jointly run the company. The result of that proposal saw Krzanich…

Intel's Former President Launches ARM-Based Server Startup

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Equity Bottom-Up

<ul>
<li>A lesser known Hong Kong Listed play on the AI Server Memory Supercycle</li>
<li>One of three suppliers at scale to Samung, SK Hynix and Micron</li>
<li>The recent price breakout of the post IPO trading range indicates the rerating has started</li>
</ul>


A lesser known Hong Kong Listed play on the AI Server Memory Supercycle
One of three suppliers at scale to Samung, SK Hynix and Micron
The recent price breakout of the post IPO trading range indicates the rerating has started


Tactical Trading: A Hong Kong Play on the AI Server Memory Supercycle

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

A review of Vermilion's Sector Rankings (RSR) reveals Cap-weighted Groups, as a whole, ranking better than average-weighted (or equal-weighted), reflecting the S&amp;P 500's outperformance relative to the Russell 2000.  We share comments on a number of sectors and highlight bottoms-up ideas in the semiconductor and software space.

A review of Vermilion's Sector Rankings (RSR) reveals Cap-weighted Groups, as a whole, ranking better than average-weighted (or equal-weighted), reflecting the S&amp;P 500's outperformance relative to the Russell 2000.  We share comments on a number of sectors and highlight bottoms-up ideas in the semiconductor and software space.

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP Select Sector indices are a family of 11 sector-specific indices derived from the SP 500 index based on GICS (Global Industry Classification Standard) classifications.</li>
<li>Large flows in the Communication Services (XLC) Index are driven by a secondary re-weighting triggered after the March 2026 rebalance that we expect to be corrected in June.</li>
<li>Intra-Review changes are expected to trigger an additional US$2.8bn of one-way flows across the Select Sector indices if implemented before the June 2026 regular rebalance.</li>
</ul>


The SP Select Sector indices are a family of 11 sector-specific indices derived from the SP 500 index based on GICS (Global Industry Classification Standard) classifications.
Large flows in the Communication Services (XLC) Index are driven by a secondary re-weighting triggered after the March 2026 rebalance that we expect to be corrected in June.
Intra-Review changes are expected to trigger an additional US$2.8bn of one-way flows across the Select Sector indices if implemented before the June 2026 regular rebalance.


Quiddity Leaderboard SP Select Sector Jun26 Rebal: Over US$10bn One-Way Flow Expected

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Shanghai Xizhi Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-xizhi-technology-lightelligence" target="_blank" data-smartkarma-citation="entities:48061:1" rel="noopener">Shanghai Xizhi Technology (Lightelligence) (LIG HK)</a> is a Chinese optical interconnect company. It has launched an HKEx IPO to raise US$319 million.</li>
<li>I previously discussed the IPO in <a href="https://www.smartkarma.com/insights/xizhi-technology-lightelligence-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:231796" rel="noopener">Xizhi Technology (Lightelligence) IPO: The Investment Case</a>. 
</li>
<li>Despite my cautious view of the fundamentals, my DCF sensitivity analysis suggests the IPO price range is reasonable. The presence of blue-chip cornerstones will help sentiment.</li>
</ul>



Shanghai Xizhi Technology (Lightelligence) (LIG HK) is a Chinese optical interconnect company. It has launched an HKEx IPO to raise US$319 million.
I previously discussed the IPO in Xizhi Technology (Lightelligence) IPO: The Investment Case. 

Despite my cautious view of the fundamentals, my DCF sensitivity analysis suggests the IPO price range is reasonable. The presence of blue-chip cornerstones will help sentiment.


Xizhi Technology (Lightelligence) (1879 HK) IPO: Valuation Insights

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Marvell Technology (MRVL US)

Intel's Former President Launches ARM-Based Server Startup

In a surprise move, Intel Corp (INTC US) former president, Renee James, yesterday launched a new startup company called Ampere, focused on...

William Keating

Tactical Trading: A Hong Kong Play on the AI Server Memory Supercycle

A less wellknown newly listed company in Hong Kong Hong Kong-listed benefiting from the AI Memory Supercycle. Recent price breakout signaling...

Rikki Malik

U.S. Equity Sector Rankings

A review of Vermilion's Sector Rankings (RSR) reveals Cap-weighted Groups, as a whole, ranking betterthan average-weighted (or equal-weighted),...

Vermilion Research

Quiddity Leaderboard SP Select Sector Jun26 Rebal: Over US$10bn One-Way Flow Expected

A secondary re-weighting correction is set to drive over US$3.7bn of one-way flows in Communication Services in the June 2026 SP Select Sector...

Anjana Amarasuriya

Xizhi Technology (Lightelligence) (1879 HK) IPO: Valuation Insights

Despite my cautious view of the fundamentals, my DCF sensitivity analysis suggests the IPO price range is reasonable. The presence of blue-chip...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Intel's Former President Launches ARM-Based Server Startup

In a surprise move, Intel Corp (INTC US) former president, Renee James, yesterday launched a new startup company called Ampere, focused on...

William Keating

Tactical Trading: A Hong Kong Play on the AI Server Memory Supercycle

​A less wellknown newly listed company in Hong Kong Hong Kong-listed benefiting from the AI Memory Supercycle. Recent price breakout signaling...

Rikki Malik

U.S. Equity Sector Rankings

A review of Vermilion's Sector Rankings (RSR) reveals Cap-weighted Groups, as a whole, ranking betterthan average-weighted (or equal-weighted),...

Vermilion Research

Quiddity Leaderboard SP Select Sector Jun26 Rebal: Over US$10bn One-Way Flow Expected

A secondary re-weighting correction is set to drive over US$3.7bn of one-way flows in Communication Services in the June 2026 SP Select Sector...

Anjana Amarasuriya

Xizhi Technology (Lightelligence) (1879 HK) IPO: Valuation Insights

Despite my cautious view of the fundamentals, my DCF sensitivity analysis suggests the IPO price range is reasonable. The presence of blue-chip...

Arun George

A less wellknown newly listed company in Hong Kong Hong Kong-listed benefiting from the AI Memory Supercycle. Recent price breakout signaling...