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

<ul><li>Qorvo, the American semiconductor company, in its Q3 earnings call of fiscal 2024, discussed its financial performance and future outlook.</li><li>Even during challenging times, the company delivered improved financial results.</li><li>Qorvo demonstrated resilience through robust sales figures and significant income for the period.</li></ul>

Qorvo, the American semiconductor company, in its Q3 earnings call of fiscal 2024, discussed its financial performance and future outlook.Even during challenging times, the company delivered improved financial results.Qorvo demonstrated resilience through robust sales figures and significant income for the period.

Qorvo Inc: New Strategic Partnerships & Other Major Growth Drivers

<ul><li>Qorvo, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings, surpassing the high end of the outlook.</li><li>This success is attributed to improved customer demand in the September quarter, primarily driven by a major smartphone customer OEM.</li><li>In High-Performance Analog (HPA), Qorvo benefits from increasing demand in defense and aerospace, particularly in supporting higher customer volumes requiring more electronics and integration.</li></ul>

Qorvo, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings, surpassing the high end of the outlook.This success is attributed to improved customer demand in the September quarter, primarily driven by a major smartphone customer OEM.In High-Performance Analog (HPA), Qorvo benefits from increasing demand in defense and aerospace, particularly in supporting higher customer volumes requiring more electronics and integration.

Qorvo Inc.: Unleashing the Potential of IoT with Revolutionary RF Tech! - Major Drivers

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.

<ul><li>KLA had a rare miss. The guidance was a bit light for the inspection execution machine.</li><li>KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.</li><li>KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91</li></ul>

KLA had a rare miss. The guidance was a bit light for the inspection execution machine.KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Asia and Global Semiconductor and Tech Research

Andrew Lu

Thematic (Sector/Industry)

<ul>
<li>During MOI correction period, global semi equipment and manufacturing vendors might under-perform semi product companies on sales/earnings and share price performance in next 6 months given utilization remains below 80%.</li>
<li>A healthy MOI correction in PC/smartphone semi might result in global logic MOI to fall to 3.7-3.8 months in 3Q23, down 15% q/q and 8% y/y, heading to historical low. </li>
<li>China fabless reduced MOI to 6.4 months in 3Q23, down 16% q/q and 26% y/y. Although 2x over 3.5 months low, we expect 4-5 months in future due to restrictions.</li>
</ul>


During MOI correction period, global semi equipment and manufacturing vendors might under-perform semi product companies on sales/earnings and share price performance in next 6 months given utilization remains below 80%.
A healthy MOI correction in PC/smartphone semi might result in global logic MOI to fall to 3.7-3.8 months in 3Q23, down 15% q/q and 8% y/y, heading to historical low. 
China fabless reduced MOI to 6.4 months in 3Q23, down 16% q/q and 26% y/y. Although 2x over 3.5 months low, we expect 4-5 months in future due to restrictions.


More Signs of Fab Utilization Recovery Starting Mid-2024 Post Current MOI Correction

<ul><li>Qorvo Inc. delivered a strong result and managed an all-around beat in the last quarter, with revenue, margin, and EPS surpassing the midpoint of the provided outlook.</li><li>With a strong presence in growth areas like sensors and ultra-wideband, Qorvo is poised to diversify its growth and expand margins.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Qorvo Inc. delivered a strong result and managed an all-around beat in the last quarter, with revenue, margin, and EPS surpassing the midpoint of the provided outlook.With a strong presence in growth areas like sensors and ultra-wideband, Qorvo is poised to diversify its growth and expand margins.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Qorvo Inc.: 4 Growth Drivers They're Betting On Amidst Declining Demand! - Financial Forecasts

United States

Qorvo Inc, designs, develops, manufactures, and markets a variety of high performance analog and mixed signal integrated circuits for the communications markets. The Company's products are used for wireless communications applications such as cellular and PCS, cordless telephony, wireless LANs, industrial radios, wireless security and remote meter reading.

Qorvo Inc (QRVO US)

Qorvo Inc: New Strategic Partnerships & Other Major Growth Drivers

Qorvo, the American semiconductor company, in its Q3 earnings call of fiscal 2024, discussed its financial performance and future outlook. Even...

Baptista Research

Qorvo Inc.: Unleashing the Potential of IoT with Revolutionary RF Tech! - Major Drivers

Qorvo, Inc. managed to exceed analyst expectations in terms of revenue as well as earnings, surpassing the high end of the outlook. This success...

Baptista Research

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Another week of earnings, with KLA having a rare miss and the guidance being a bit light for the inspection execution machine.

Fabricated Knowledge

More Signs of Fab Utilization Recovery Starting Mid-2024 Post Current MOI Correction

More Signs of Fab Utilization Recovery Starting Mid-2024 Post Current MOI Correction. During the period, global semi equipment and manufacturing...

Andrew Lu

Qorvo Inc.: 4 Growth Drivers They're Betting On Amidst Declining Demand! - Financial Forecasts

Qorvo Inc. delivered a strong result and managed an all-around beat in the last quarter, with revenue, margin, and EPS surpassing the midpoint of...

Baptista Research