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 Vision: build a best-in-class, world-class, pure-play company focused on semiconductor solutions for data infrastructure that is required to move, store, process, and secure the world's data.</li>
<li>The next major wave of innovation and scale will come from the underlying connectivity of systems. As those connections move from copper to optical, they will unlock new architectural possibilities.</li>
<li>Over the last decade Marvell invested roughly $22.5 billion through acquisitions. They spent $18 billion organically inside the company to develop the platform. They divested ~$4.5 billion worth of assets. </li>
</ul>


Marvell Vision: build a best-in-class, world-class, pure-play company focused on semiconductor solutions for data infrastructure that is required to move, store, process, and secure the world's data.
The next major wave of innovation and scale will come from the underlying connectivity of systems. As those connections move from copper to optical, they will unlock new architectural possibilities.
Over the last decade Marvell invested roughly $22.5 billion through acquisitions. They spent $18 billion organically inside the company to develop the platform. They divested ~$4.5 billion worth of assets. 


Marvell Computex 2026 Keynote. Key Takeaways & Full Transcript

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>The Technology Select Sector Index is back on top with US$5.1 bn one-way flow while the  Communication Services Select Sector Index still has significant flows.</li>
<li>The pending intra-review deal could trigger additional intra-review flows of ~US$1bn across the Select Sector indices if the deal closes 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.
The Technology Select Sector Index is back on top with US$5.1 bn one-way flow while the  Communication Services Select Sector Index still has significant flows.
The pending intra-review deal could trigger additional intra-review flows of ~US$1bn across the Select Sector indices if the deal closes before the June 2026 regular rebalance.


Quiddity Leaderboard SP Select Sector Jun26 Rebal: One-Way Flow Climbs ~US$4bn In A Month

<ul>
<li>The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>Two active M&amp;A deals could trigger intra-review ADDs. Shareholders have already approved one deal while the other goes to a shareholder vote on 4th May 2026.</li>
<li>
<a href="https://www.smartkarma.com/entities/titan-international-inc" target="_blank" data-smartkarma-citation="entities:2416:1" rel="noopener">Titan International (TWI US)</a>, our previous top SP 600 deletion candidate, was dropped from the SP 600. <a href="https://www.smartkarma.com/entities/insteel-industries-inc" target="_blank" data-smartkarma-citation="entities:4069:1" rel="noopener">Insteel Industries (IIIN US)</a> is now our top DELETION candidate.</li>
</ul>


The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.
Two active M&amp;A deals could trigger intra-review ADDs. Shareholders have already approved one deal while the other goes to a shareholder vote on 4th May 2026.

Titan International (TWI US), our previous top SP 600 deletion candidate, was dropped from the SP 600. Insteel Industries (IIIN US) is now our top DELETION candidate.


Quiddity Leaderboard SP500/600 Jun26 Rebal: Two M&A Deals in Play; May Close Before June Review

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. has moved to strengthen its optical connectivity roadmap through the acquisition of Polariton Technologies, a specialist in high-speed, low-power plasmonics-based silicon photonics devices.</li><li>The deal, announced on April 22, 2026, comes as AI workloads continue to push data center bandwidth requirements higher, forcing cloud and infrastructure customers to look beyond today’s 1.6T optical connectivity standards toward 3.2T and beyond.</li><li>Polariton brings advanced modulation technology designed for compact, energy-efficient optical signaling across coherent, ZR, ZR+, scale-across, and data center interconnect applications.</li></ul>

Marvell Technology, Inc. has moved to strengthen its optical connectivity roadmap through the acquisition of Polariton Technologies, a specialist in high-speed, low-power plasmonics-based silicon photonics devices.The deal, announced on April 22, 2026, comes as AI workloads continue to push data center bandwidth requirements higher, forcing cloud and infrastructure customers to look beyond today’s 1.6T optical connectivity standards toward 3.2T and beyond.Polariton brings advanced modulation technology designed for compact, energy-efficient optical signaling across coherent, ZR, ZR+, scale-across, and data center interconnect applications.

Marvell Technologies Acquisition Strategy Signals A Massive Optical Disruption Ahead!

<ul><li>Marvell Technology has re-entered the market’s spotlight with the kind of stock action that usually invites simple explanations.</li><li>Shares recently closed at another record high around $131 after rising 2.2% in a single session, and the stock has more than doubled over the past 12 months.</li><li>That rebound is especially striking because it follows a bruising period when the shares lost roughly half their value amid fears that Marvell could lose key AI chip design work tied to Amazon’s Trainium roadmap.</li></ul>

Marvell Technology has re-entered the market’s spotlight with the kind of stock action that usually invites simple explanations.Shares recently closed at another record high around $131 after rising 2.2% in a single session, and the stock has more than doubled over the past 12 months.That rebound is especially striking because it follows a bruising period when the shares lost roughly half their value amid fears that Marvell could lose key AI chip design work tied to Amazon’s Trainium roadmap.

Marvell’s $20 Billion Secret: Is Amazon Pulling The Strings?

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 Computex 2026 Keynote. Key Takeaways & Full Transcript

Over the last decade Marvell invested ~$22.5 billion through acquisitions. They spent $18 billion organically inside the company to develop the...

William Keating

Quiddity Leaderboard SP Select Sector Jun26 Rebal: One-Way Flow Climbs ~US$4bn In A Month

Over US$37bn of one-way flow expected across SP 500, Select Sectors, and Equal Weight at the June 2026 rebalance. The pending M&A deal could add...

Anjana Amarasuriya

Quiddity Leaderboard SP500/600 Jun26 Rebal: Two M&A Deals in Play; May Close Before June Review

Bloom Energy (BE US) cleared the SP 500 financial viability requirement with $70.7m of net income in its Q1 2026 earnings release on 28 April 2026,...

Anjana Amarasuriya

Marvell Technologies Acquisition Strategy Signals A Massive Optical Disruption Ahead!

Marvell Technology, Inc. has moved to strengthen its optical connectivity roadmap through the acquisition of Polariton Technologies, a specialist...

Baptista Research

Marvell’s $20 Billion Secret: Is Amazon Pulling The Strings?

Marvell Technology has re-entered the market’s spotlight with the kind of stock action that usually invites simple explanations. Shares recently...

Baptista Research

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