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

Vishay Intertechnology / Equity Bottom-Up

<ul><li>Vishay Intertechnology reported its third-quarter 2025 financial results with noteworthy developments across various market segments.</li><li>For the quarter, the company achieved revenue of $791 million, marking a sequential growth of 4% and an 8% increase compared to the third quarter of 2024.</li><li>This growth was primarily driven by higher sales volumes, particularly in the automotive and industrial sectors, and a slight positive impact from foreign exchange, mainly the Euro.</li></ul>

Vishay Intertechnology reported its third-quarter 2025 financial results with noteworthy developments across various market segments.For the quarter, the company achieved revenue of $791 million, marking a sequential growth of 4% and an 8% increase compared to the third quarter of 2024.This growth was primarily driven by higher sales volumes, particularly in the automotive and industrial sectors, and a slight positive impact from foreign exchange, mainly the Euro.

Vishay Intertechnology Positions for a Global Smart Grid Boom With Capacity Expansions & New Parts; What's Next?

<ul><li>Vishay Intertechnology, a company specializing in semiconductors and passive electronic components, recently reported its first-quarter financial results for 2025.</li><li>Here’s a detailed assessment of the quarter's outcomes and the investment considerations that arise from them.</li><li>Revenue for the first quarter stood at $715 million, slightly above the midpoint of their guidance.</li></ul>

Vishay Intertechnology, a company specializing in semiconductors and passive electronic components, recently reported its first-quarter financial results for 2025.Here’s a detailed assessment of the quarter's outcomes and the investment considerations that arise from them.Revenue for the first quarter stood at $715 million, slightly above the midpoint of their guidance.

Vishay Intertechnology Expands Smart Grid & AI Footprint: Is It the Next Big Semiconductor Player?

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.

Event-Driven

<ul>
<li>The <a href="https://asia.nikkei.com/business/business-deals/toyota-supplier-denso-to-withdraw-proposal-to-take-over-rohm" target="_blank" rel="noopener">Nikkei reports</a> that <a href="https://www.smartkarma.com/entities/denso-corp" target="_blank" data-smartkarma-citation="entities:18703:1" rel="noopener">Denso Corp (6902 JP)</a> will withdraw its proposal for <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a> as the two sides were “<em>unable to see eye-to-eye on an offer.</em>” </li>
<li>Several factors, such as an unattractive offer, significant peer re-rating, and Rohm's preference for the standalone path (MoU with Toshiba/Mitsubishi Electric), likely contributed to Denso’s withdrawal. </li>
<li>The shares will be under pressure due to the deal break (estimated decline of around 10%). A re-rating in the medium term depends on execution, starting with the Toshiba MoU. </li>
</ul>


The Nikkei reports that Denso Corp (6902 JP) will withdraw its proposal for ROHM Co Ltd (6963 JP) as the two sides were “unable to see eye-to-eye on an offer.” 
Several factors, such as an unattractive offer, significant peer re-rating, and Rohm's preference for the standalone path (MoU with Toshiba/Mitsubishi Electric), likely contributed to Denso’s withdrawal. 
The shares will be under pressure due to the deal break (estimated decline of around 10%). A re-rating in the medium term depends on execution, starting with the Toshiba MoU. 


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

<p>The S&amp;P 500 is poised to retest the 2,790-2,800 horizontal resistance level that we have highlighted in previous reports. A bullish short-term reversal in the XLF has helped bolster optimism in U.S. equities.  We continue to expect the broad YTD consolidation to continue, especially given heightened trade tariff tensions. In today’s report we highlight attractive opportunities within Consumer Staples, Technology, and Health Care.</p>

The S&amp;P 500 is poised to retest the 2,790-2,800 horizontal resistance level that we have highlighted in previous reports. A bullish short-term reversal in the XLF has helped bolster optimism in U.S. equities.  We continue to expect the broad YTD consolidation to continue, especially given heightened trade tariff tensions. In today’s report we highlight attractive opportunities within Consumer Staples, Technology, and Health Care.

U.S. Equity Strategy: XLF Support Holding; Large-Cap Health Care Perks Up

Equity Analyst, LightStream Research

Farha Sabri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

<ul><li>Supply shortages for MLCCs (multi-layer ceramic capacitors) to continue into 2019 and beyond driven by unexpected increases in content per device in key markets, namely smartphones and vehicles.</li><li>MLCC content per device in smartphones has seen a 2x increase in recent times (2015-17) while that of electric cars has seen a 4x increase compared to ICE vehicles.</li><li>Manufacturers are expanding production capacity quite slowly and are introducing price hikes. Discontinuation of older MLCC models is also starting to take place.</li><li>Promising outlook in store for MLCC manufacturers as market does not seem to be slowing down anytime soon. Demand will continue to rise until IoT becomes widespread (consensus expects a CAGR of approximately 33% over 2017-20E). We believe that MLCC manufacturers will continue to see steady growth in top-line alongside healthy margins.</li></ul>

Supply shortages for MLCCs (multi-layer ceramic capacitors) to continue into 2019 and beyond driven by unexpected increases in content per device in key markets, namely smartphones and vehicles.MLCC content per device in smartphones has seen a 2x increase in recent times (2015-17) while that of electric cars has seen a 4x increase compared to ICE vehicles.Manufacturers are expanding production capacity quite slowly and are introducing price hikes. Discontinuation of older MLCC models is also starting to take place.Promising outlook in store for MLCC manufacturers as market does not seem to be slowing down anytime soon. Demand will continue to rise until IoT becomes widespread (consensus expects a CAGR of approximately 33% over 2017-20E). We believe that MLCC manufacturers will continue to see steady growth in top-line alongside healthy margins.

Bright Future Ahead for MLCC Market Amidst Increasing Electrification in Key Industries

United States

Vishay Intertechnology, Inc. manufactures a broad line of passive and discreet active electronic components, particularly resistors, capacitors, inductors, diodes, and transistors.  The Company's products are utilized in computers, telephones, televisions, automobiles, household appliance, medical equipment, satellites, and military and aerospace equipment.

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

Vishay Intertechnology (VSH US)

Vishay Intertechnology Positions for a Global Smart Grid Boom With Capacity Expansions & New Parts; What's Next?

Vishay Intertechnology reported its third-quarter 2025 financial results with noteworthy developments across various market segments. For the...

Baptista Research

Vishay Intertechnology Expands Smart Grid & AI Footprint: Is It the Next Big Semiconductor Player?

Vishay Intertechnology, a company specializing in semiconductors and passive electronic components, recently reported its first-quarter financial...

Baptista Research

ROHM (6963 JP): Denso Pulls the Plug

The shares will be under pressure due to the deal break (estimated decline of around 10%). A re-rating in the medium term depends on execution,...

Arun George

U.S. Equity Strategy: XLF Support Holding; Large-Cap Health Care Perks Up

The S&P 500 is poised to retest the 2,790-2,800 horizontal resistance level that we have highlighted in previous reports. A bullish short-term...

Vermilion Research

Bright Future Ahead for MLCC Market Amidst Increasing Electrification in Key Industries

Supply shortages for MLCCs (multi-layer ceramic capacitors) to continue into 2019 and beyond driven by unexpected increases in content per device...

Farha Sabri

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)