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>This is our first report on independent semiconductor foundry, Tower Semiconductor.</li><li>The company reported its fourth-quarter and full-year financial results for 2023, with industry-wide slowdowns marking the past year and resulting in an annual revenue of $1.42 billion.</li><li>Despite this, there are clear indicators of market recovery observed by the company, with renewed demand across several key market segments as the company transitioned into 2024.</li></ul>

This is our first report on independent semiconductor foundry, Tower Semiconductor.The company reported its fourth-quarter and full-year financial results for 2023, with industry-wide slowdowns marking the past year and resulting in an annual revenue of $1.42 billion.Despite this, there are clear indicators of market recovery observed by the company, with renewed demand across several key market segments as the company transitioned into 2024.

Tower Semiconductor Ltd.: How Are They Enhancing AI Capabilities & Expanding Into 300-millimeter Wafer Technology! - Major Drivers

Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

<ul><li>Tower is a pure-play analog semiconductor wafer foundry that manufactures SiGe, MEMS, RF, embedded flash-based memory, analog/mixed-signal, and CMOS image-sensor devices in the US, Israel, and Japan.</li><li>It is serving markets in mobile such as RF High Position analog, as well as in CMOS image sensors, and power management.</li><li>It also added a new fab in Italy in partnership with STMicro that has just started shipping product and whose capacity will continue to ramp over the next two years.</li></ul>

Tower is a pure-play analog semiconductor wafer foundry that manufactures SiGe, MEMS, RF, embedded flash-based memory, analog/mixed-signal, and CMOS image-sensor devices in the US, Israel, and Japan.It is serving markets in mobile such as RF High Position analog, as well as in CMOS image sensors, and power management.It also added a new fab in Italy in partnership with STMicro that has just started shipping product and whose capacity will continue to ramp over the next two years.

TSEM: Tower's Revenues May Have Bottomed  Sequential Improvement is Expected Going Forward

Tower Semiconductor Ltd: Initiation Of Coverage - Will The Rebound in the Mobile Market & RF Infrastructure Catalyze Growth? - Major Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Key points (machine generated)<ul><li>Tower Semiconductor is currently undervalued and presents a compelling opportunity for long-term investors.</li><li>The stock is trading at just a quarter of the price Intel was willing to pay for it, indicating a lack of appreciation by the market.</li><li>The lack of coverage and silence during the Intel deal, as well as being an Israeli company, may deter some investors, but Tower has the potential for significant growth and ongoing capacity expansion projects, making it an attractive investment with the potential for a 3x return over the next three years.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Tower Semiconductor is currently undervalued and presents a compelling opportunity for long-term investors.The stock is trading at just a quarter of the price Intel was willing to pay for it, indicating a lack of appreciation by the market.The lack of coverage and silence during the Intel deal, as well as being an Israeli company, may deter some investors, but Tower has the potential for significant growth and ongoing capacity expansion projects, making it an attractive investment with the potential for a 3x return over the next three years.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Tower Semiconductor Ltd (TSEM) - Wednesday, Oct 18, 2023

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

<ul>
<li>The agreement helps Intel fill up some long-underutilised fab capacity at their Rio Rancho, New Mexico facility</li>
<li>Tower likely gets a bargain-basement opportunity to increase their percentage of 300mm wafer capacity</li>
<li>Tower's automotive business grew from 11% of revenues in 2022 to 19% of revenues in H1'23. Greater 300mm capacity will help them meet this demand once foundry starts to recover. </li>
</ul>


The agreement helps Intel fill up some long-underutilised fab capacity at their Rio Rancho, New Mexico facility
Tower likely gets a bargain-basement opportunity to increase their percentage of 300mm wafer capacity
Tower's automotive business grew from 11% of revenues in 2022 to 19% of revenues in H1'23. Greater 300mm capacity will help them meet this demand once foundry starts to recover. 


Intel's Deal With Tower Semi Is Basically A Rent-A-Fab Scheme

Israel

Tower Semiconductor Ltd. (TowerJazz) is an independent foundry providing semiconductor integrated circuits manufacturing & related design services. The Company manufactures wafers using its technologies & production capability and the proprietary designs of its customers. TowerJazz's integrated circuits are incorporated into a wide range of products in diverse markets.

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Tower Semiconductor (TSEM US)

Tower Semiconductor Ltd.: How Are They Enhancing AI Capabilities & Expanding Into 300-millimeter Wafer Technology! - Major Drivers

This is our first report on independent semiconductor foundry, Tower Semiconductor. The company reported its fourth-quarter and full-year...

Baptista Research

TSEM: Tower's Revenues May Have Bottomed Sequential Improvement is Expected Going Forward

Tower is a pure-play analog semiconductor wafer foundry that manufactures SiGe, MEMS, RF, embedded flash-based memory, analog/mixed-signal, and...

Zacks Small Cap Research

Tower Semiconductor Ltd: Initiation Of Coverage - Will The Rebound in the Mobile Market & RF Infrastructure Catalyze Growth? - Major Drivers

This is our first report on independent semiconductor foundry, Tower Semiconductor. The company reported its fourth-quarter and full-year...

Baptista Research

Tower Semiconductor Ltd (TSEM) - Wednesday, Oct 18, 2023

Tower Semiconductor is currently undervalued and presents a compelling opportunity for long-term investors, with the potential for significant...

Value Investors Club (VIC)

Intel's Deal With Tower Semi Is Basically A Rent-A-Fab Scheme

Intel's recently announced "Capacity Corridor" deal with Tower help them fill up some long-underutilised fab capacity at their Rio Rancho, New...

William Keating

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