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>Wolfspeed, Inc., a leading manufacturer in silicon carbide materials, provided a detailed update on its operational and financial performance during the Q4 Fiscal Year 2024 Earnings Call.</li><li>Wolfspeed is positioned to take advantage of the increasing demand for silicon carbide-based solutions, which are essential for electric vehicles and high-power applications.</li><li>The company’s progress in improving manufacturing efficiency, particularly with the 200-millimeter wafer technology at its Mohawk Valley facility, is a key strategic step.</li></ul>

Wolfspeed, Inc., a leading manufacturer in silicon carbide materials, provided a detailed update on its operational and financial performance during the Q4 Fiscal Year 2024 Earnings Call.Wolfspeed is positioned to take advantage of the increasing demand for silicon carbide-based solutions, which are essential for electric vehicles and high-power applications.The company’s progress in improving manufacturing efficiency, particularly with the 200-millimeter wafer technology at its Mohawk Valley facility, is a key strategic step.

Wolfspeed Inc.: Capitalizing On EV Growth & Silicon Carbide’s Role in Energy Efficiency Markets! - Major Drivers

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>S&amp;P MidCap 400 additions by transition require market cap, float cap, sector balance, liquidity and earnings as parameters for inclusion.</li>
<li>The highest combined score from the parameters is given to <a href="https://www.smartkarma.com/entities/carvana-co" target="_blank" data-smartkarma-citation="entities:26471:1" rel="noopener">CVNA</a>, <a href="https://www.smartkarma.com/entities/robinhood-markets-inc" target="_blank" data-smartkarma-citation="entities:33532:1" rel="noopener">HOOD</a>, <a href="https://www.smartkarma.com/entities/lpl-financial-holdings-inc" target="_blank" data-smartkarma-citation="entities:16363:1" rel="noopener">LPLA</a> and <a href="https://www.smartkarma.com/entities/entegris-inc" target="_blank" data-smartkarma-citation="entities:12493:1" rel="noopener">ENTG</a> which makes them acceptable candidates for addition. </li>
<li>
<a href="https://www.smartkarma.com/entities/ensign-group-inc-the" target="_blank" data-smartkarma-citation="entities:9297:1" rel="noopener">Ensign Group (ENSG US)</a> and <a href="https://www.smartkarma.com/entities/mueller-industries-inc" target="_blank" data-smartkarma-citation="entities:18247:1" rel="noopener">Mueller Industries (MLI US)</a> have the highest probability of being added out of the migrations. Market cap of migration candidates is estimated to be insufficient.</li>
</ul>


S&amp;P MidCap 400 additions by transition require market cap, float cap, sector balance, liquidity and earnings as parameters for inclusion.
The highest combined score from the parameters is given to CVNA, HOOD, LPLA and ENTG which makes them acceptable candidates for addition. 

Ensign Group (ENSG US) and Mueller Industries (MLI US) have the highest probability of being added out of the migrations. Market cap of migration candidates is estimated to be insufficient.


S&P MidCap 400 September 2024 Forecasts: Highest Score to the HOOD, CVNA, LPLA, ENTG, ENSG and MLI

Japanese Turnaround Situations, Short-Ideas, Azabu Research

Michael Allen

Japanese Turnaround Situations, Short-Ideas

Azabu Research

Azabu Research is a publishing and consulting firm focused on distressed equities in the Japanese market. We specialize in turnaround strategies, corporate combinations, divestitures, and restructuring.

Publisher of the Tokyo Turnaround Letter, which conducts the most thorough research possible of publicly available information, including forensic tests for fraudulent overstatement of assets and understatement of liabilities, as well as rigorous market and industry analysis to assess the underlying strengths of the company’s products or services, the appropriateness of the company’s turnaround strategy, and the skill of its current management team. The average length of a report exceeds 25 pages of text and tables, excluding any disclosures or executive summaries.

We have more than 30 years of experience in applying this process to distressed equities in Japan. Additionally, subscribers have free access to detailed, yet easily navigated earnings models for the target company as well as the top five comparable companies, and unlimited access to the analyst for follow-up questions.

Azabu Research also conducts be-spoke research on a project basis, and provides consulting services to companies looking to restructure, divest, make acquisitions, go public, or improve investor sentiment toward their stock.

Independent Research and Consulting Firm

<ul>
<li>Rohm’s cyclical turning points in revenue typically lag the turn METI production %YoY less inventory % YoY for electronic devices and components by 12 months.</li>
<li>Investors were disappointed with Q1 results, but the company cleanly outperformed most peers in the power semiconductor space, and recovery now looks inevitable. </li>
<li>We believe the fair value of shares to be around ¥3,300, 2x the current price, but investors should ask, “When?” Not “How much.”</li>
</ul>


Rohm’s cyclical turning points in revenue typically lag the turn METI production %YoY less inventory % YoY for electronic devices and components by 12 months.
Investors were disappointed with Q1 results, but the company cleanly outperformed most peers in the power semiconductor space, and recovery now looks inevitable. 
We believe the fair value of shares to be around ¥3,300, 2x the current price, but investors should ask, “When?” Not “How much.”


<ul><li>Wolfspeed, a leading vertically integrated silicon carbide company, shared its fiscal Q3 2024 results, emphasizing accomplishments in operational performance yet acknowledging the market's undervaluation of its potential.</li><li>A key point of focus was their Mohawk Valley facility’s substantial progress towards increasing utilization and revenue generation.</li><li>Facility enhancements and strategic shifts in production capacities were regularly discussed, reflecting an agile response to market demands, particularly within the electric vehicle sector.</li></ul>

Wolfspeed, a leading vertically integrated silicon carbide company, shared its fiscal Q3 2024 results, emphasizing accomplishments in operational performance yet acknowledging the market's undervaluation of its potential.A key point of focus was their Mohawk Valley facility’s substantial progress towards increasing utilization and revenue generation.Facility enhancements and strategic shifts in production capacities were regularly discussed, reflecting an agile response to market demands, particularly within the electric vehicle sector.

Wolfspeed Inc.: Will Its Strategic Focus on Electric Vehicle Market Become The Single Biggest Growth Lever? - Major Drivers

<ul><li>Wolfspeed Inc., the leading vertically integrated silicon carbide company, has reported an encouraging Q2 fiscal year 2024 earnings.</li><li>The company has shown substantial progress in its strategic initiatives.</li><li>The Mohawk Valley Fab exhibited improved performance and is expected to achieve 20% utilization by June quarter.</li></ul>

Wolfspeed Inc., the leading vertically integrated silicon carbide company, has reported an encouraging Q2 fiscal year 2024 earnings.The company has shown substantial progress in its strategic initiatives.The Mohawk Valley Fab exhibited improved performance and is expected to achieve 20% utilization by June quarter.

Wolfspeed Inc.: Is There A Chance The Demand For Silicon Carbide Will Wane? - Major Drivers

United States

Wolfspeed, Inc. develops and manufactures semiconductor products. The Company offers silicon carbide and GaN solutions for both high power and RF applications. Wolfspeed serves customers worldwide.

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Wolfspeed (WOLF US)

Wolfspeed Inc.: Capitalizing On EV Growth & Silicon Carbide’s Role in Energy Efficiency Markets! - Major Drivers

Wolfspeed, Inc., a leading manufacturer in silicon carbide materials, provided a detailed update on its operational and financial performance...

Baptista Research

S&P MidCap 400 September 2024 Forecasts: Highest Score to the HOOD, CVNA, LPLA, ENTG, ENSG and MLI

Robinhood (HOOD), Entegris (ENTG) and LPL Financial Holdings (LPLA) are amongst the highest scoring addition candidates based on mcap, fcap,...

Dimitris Ioannidis

Rohm (6963): Search for the Bottom

Growth of production less growth of inventory turned positive last September, which could lead to an upturn in Rohm’s sales by the third quarter. ...

Michael Allen

Wolfspeed Inc.: Will Its Strategic Focus on Electric Vehicle Market Become The Single Biggest Growth Lever? - Major Drivers

Wolfspeed, a leading vertically integrated silicon carbide company, shared its fiscal Q3 2024 results, emphasizing accomplishments in operational...

Baptista Research

Wolfspeed Inc.: Is There A Chance The Demand For Silicon Carbide Will Wane? - Major Drivers

Wolfspeed Inc., the leading vertically integrated silicon carbide company, has reported an encouraging Q2 fiscal year 2024 earnings. The company...

Baptista Research

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