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>Vicor Corporation surged 27% in a single session to $82.64, following a bullish Q3 2025 earnings report, rapid expansion of its IP licensing business, and deepening engagements with hyperscalers and AI chipmakers.</li><li>With net income more than doubling year-over-year and licensing revenue on track to exceed $200 million annually, Vicor is increasingly being recognized not just as a power module manufacturer but as a dual-engine IP and hardware company riding the AI wave.</li><li>Analysts from Needham and Craig-Hallum upgraded the stock, citing its growing relevance in AI data center infrastructure and the monetization of its patented power delivery technologies.</li></ul>

Vicor Corporation surged 27% in a single session to $82.64, following a bullish Q3 2025 earnings report, rapid expansion of its IP licensing business, and deepening engagements with hyperscalers and AI chipmakers.With net income more than doubling year-over-year and licensing revenue on track to exceed $200 million annually, Vicor is increasingly being recognized not just as a power module manufacturer but as a dual-engine IP and hardware company riding the AI wave.Analysts from Needham and Craig-Hallum upgraded the stock, citing its growing relevance in AI data center infrastructure and the monetization of its patented power delivery technologies.

Vicor’s AI Goldmine: Why the Stock Is on Fire?

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Vicor is a highly innovative designer and manufacturer of high-density, high-efficiency modular power solutions, positioning it as a key enabler for demanding applications in artificial intelligence (AI), high-performance computing (HPC), automotive, and aerospace.</li>
  <li>The company's proprietary technologies and vertical integration provide a technological moat; however, the business faces significant risks from customer concentration, intense competition from larger semiconductor players, and market cyclicality.</li>
  <li>Financial performance has been volatile, with recent margin compression and analyst downgrades creating uncertainty, yet the company maintains a strong balance sheet and is poised to capitalize on long-term secular growth trends in electrification and data center power demands.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Vicor is a highly innovative designer and manufacturer of high-density, high-efficiency modular power solutions, positioning it as a key enabler for demanding applications in artificial intelligence (AI), high-performance computing (HPC), automotive, and aerospace.
  The company's proprietary technologies and vertical integration provide a technological moat; however, the business faces significant risks from customer concentration, intense competition from larger semiconductor players, and market cyclicality.
  Financial performance has been volatile, with recent margin compression and analyst downgrades creating uncertainty, yet the company maintains a strong balance sheet and is poised to capitalize on long-term secular growth trends in electrification and data center power demands.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

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.

Event-Driven

<ul>
<li>Last week the best show in semiconductors was the Maxlinear and SIMO merger news. I will catalog the entire saga and outline my thoughts on where things go.</li>
<li>Before we talk about SIMO, let’s talk about Maxlinear’s acquisitions. MaxLinear acquired an asset in April 2020 that was almost the perfect fit.</li>
<li>As Intel shed assets, <a href="https://link.sbstck.com/redirect/db2d9597-2061-468b-ba34-a12146ed7e62?j=eyJ1IjoiMmh6Z2Z6In0.muIDtmM5oyqUKBSSZiLNsipOMwhSsKSSacAB3JlN14Y" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://link.sbstck.com/redirect/db2d9597-2061-468b-ba34-a12146ed7e62?j%3DeyJ1IjoiMmh6Z2Z6In0.muIDtmM5oyqUKBSSZiLNsipOMwhSsKSSacAB3JlN14Y&amp;source=gmail&amp;ust=1691025954853000&amp;usg=AOvVaw1XwVvbW4r4yPuTojiMtbQH" rel="noopener">they sold their home gateway platform</a>, which makes the semiconductors that go in-home modems and routers.</li>
</ul>


Last week the best show in semiconductors was the Maxlinear and SIMO merger news. I will catalog the entire saga and outline my thoughts on where things go.
Before we talk about SIMO, let’s talk about Maxlinear’s acquisitions. MaxLinear acquired an asset in April 2020 that was almost the perfect fit.
As Intel shed assets, they sold their home gateway platform, which makes the semiconductors that go in-home modems and routers.


Maxlinear and Silicon Motion, Vicor and Monolithic Power and New Product Launches

Thematic (Sector/Industry)

<ul><li>Welcome to the Halloween Earnings Edition. It's a spooky time in markets.</li><li>So far, there’s been a lot of volatility this earnings season, specifically around the Magnificent 7. Let’s discuss.</li><li>I won’t discuss each company specifically, but I will focus on the high-level capex commentary.</li></ul>

Welcome to the Halloween Earnings Edition. It's a spooky time in markets.So far, there’s been a lot of volatility this earnings season, specifically around the Magnificent 7. Let’s discuss.I won’t discuss each company specifically, but I will focus on the high-level capex commentary.

Halloween Earnings Season 🎃 (Hyperscalers, TXN, VICR, SK Hynix, KLAC, MXL, INTC, AWE, ACMR, BESI)

<ul><li>A quick discussion of the companies that have reported so far, and my thoughts on the semiconductor stock space</li><li>Pretty much the entire index is going to receive inflows at the expense of the top 8 names.</li><li>Microsoft, Google, Amazon, Nvidia, Meta, Apple, and Tesla will all be cut from the index weight and redistributed into smaller names on <a href="https://www.morningstar.co.uk/uk/news/237279/index-investors-beware-the-nasdaq-is-rebalancing-next-week.aspx" target="_blank" rel="noopener">July 24, 2023</a>.</li></ul>

A quick discussion of the companies that have reported so far, and my thoughts on the semiconductor stock spacePretty much the entire index is going to receive inflows at the expense of the top 8 names.Microsoft, Google, Amazon, Nvidia, Meta, Apple, and Tesla will all be cut from the index weight and redistributed into smaller names on July 24, 2023.

Nasdaq Rebalance, Nanya, Camtek, Nordic Semi, Aehr Test, and Positioning

United States

Vicor Corporation designs, manufactures, and markets modular power components and complete power systems.  The Company's products are used in electronic products to convert power from a primary power source into the direct current required by electronic circuits.  Vicor sells its products in North and South America, as well as internationally through independent distributors.

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Vicor Corp (VICR US)

Vicor’s AI Goldmine: Why the Stock Is on Fire?

Vicor Corporation surged 27% in a single session to $82.64, following a bullish Q3 2025 earnings report, rapid expansion of its IP licensing...

Baptista Research

Primer: Vicor Corp (VICR US) - Oct 2025

Vicor is a highly innovative designer and manufacturer of high-density, high-efficiency modular power solutions, positioning it as a key enabler...

αSK

Maxlinear and Silicon Motion, Vicor and Monolithic Power and New Product Launches

Maxlinear has a legal battle on it's hands, and what's the new product Vicor is talking about? Last week the best show in semiconductors was the...

Fabricated Knowledge

Halloween Earnings Season 🎃 (Hyperscalers, TXN, VICR, SK Hynix, KLAC, MXL, INTC, AWE, ACMR, BESI)

Welcome to the Halloween Earnings Edition. It's a spooky time in markets. So far, there’s been a lot of volatility this earnings season,...

Fabricated Knowledge

Nasdaq Rebalance, Nanya, Camtek, Nordic Semi, Aehr Test, and Positioning

A quick discussion of the companies that have reported so far, and my thoughts on the semiconductor stock space Pretty much the entire index is...

Fabricated Knowledge

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52-week Range

Market Cap (USDm)

P/E

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