In today’s briefing:
- 4 Spin-offs with Insider Buying
- The Hot Chatter in the Local Market: Tax-Free Dividends – Is Samsung In?
- Analog Devices Pushing For Increased Industrial Automation With An Interesting Power-Saving Tech – What Does This Mean For Investors?
- CoreWeave Inc (CRWV): IPO Opens Below Issue, Closes Flat in Debut Session
- Tech Supply Chain Tracker (29-Mar-2025): Smart cars use DeepSeek apps.
- SentinelOne Skyrockets with Enterprise Client Surge & Soaring Deal Sizes!
- [Kuaishou (1024 HK, BUY, TP HK$70) TP Change]: C4Q24 Review: Temporary Setback a Chance to Buy
- Horizon Robotics (9660.HK): The Stock Probably Peaked at HK$10.00+ As IPO Lock-Up Expires in April
- MoneyHero: Three Key Questions Critical to the Investment Thesis
- Synaptics Unleashes WiFi 8 & UWB Tech—Could This Be the Next Big Leap In IoT?
4 Spin-offs with Insider Buying
- One factor that I closely follow in the spin-off universe is insider buying.
- Here’s what Peter Lynch wrote about insiders and spin-offs in One Up on Wall Street: [Spin-offs] are a fertile area for amateur investors…….A month or two after the spinoff is completed, you can check to see if there is heavy insider buying among the new officers and directors.
- There are four names in my universe that have interesting insider activity.
The Hot Chatter in the Local Market: Tax-Free Dividends – Is Samsung In?
- Chosun reports that some Samsung affiliates are exploring tax-free dividends at the operational level, with execs reportedly briefed on the idea.
- Surprisingly, regulators and politicians haven’t objected to tax-free dividends, which ironically align with the value-up policy. The delay in Samsung’s value-up announcements may be due to this decision.
- It’s unclear if Samsung Electronics and Life will drop tax-free dividends, but if regulators approve, they could introduce it suddenly in their value-up updates, especially with Lee Jae-yong’s cash crunch.
Analog Devices Pushing For Increased Industrial Automation With An Interesting Power-Saving Tech – What Does This Mean For Investors?
- Analog Devices, Inc. (ADI) reported its financial results for the first quarter of fiscal year 2025, showing better than-anticipated performance despite prevailing macroeconomic and geopolitical challenges.
- Revenue reached $2.42 billion, surpassing the midpoint of its outlook, although this marked a 4% year-over-year decline.
- When adjusted for an extra week in the comparable period last year, sales represented a 4% year-over-year increase.
CoreWeave Inc (CRWV): IPO Opens Below Issue, Closes Flat in Debut Session
- CoreWeave priced a down-sized transaction of 37.5mm shares at $40.00 ($7 Below the Original $47-$55 range) and opened at $39.00 for a loss of 2.5% at first trade
- According to our underwriter sources, the deal finished multiple-times oversubscribed with the top three accounts getting 50% of the deal and the top 15 accounts taking down 90% of the transaction.
- This IPO in particular was a difficult deal to value for IPO investors based upon being a “first mover” in the AI space.
Tech Supply Chain Tracker (29-Mar-2025): Smart cars use DeepSeek apps.
- DeepSeek app revolutionizes smart vehicles with advanced technology for a seamless driving experience and enhanced safety features.
- Primarius enhances EDA consolidation in China through the acquisition of Actt, accelerating innovation and growth in the semiconductor industry.
- SMIC experiences record revenue growth in 2024, but sees a 23% decline in profit, highlighting the challenges faced by the company in a competitive market. Trend Micro warns of AI security risks and ‘grandma prompt’ threat at the AI Expo 2025. Uni-President Group strengthens e-commerce presence through strategic acquisitions and investments in Yahoo Taiwan and PChome Online.
SentinelOne Skyrockets with Enterprise Client Surge & Soaring Deal Sizes!
- SentinelOne reported strong financial results for the fourth quarter and fiscal year 2025, with significant achievements and certain challenges that are crucial for investors to assess.
- The company experienced noteworthy revenue growth, reaching $226 million in Q4, marking a 29% increase year-over-year.
- The total revenue for fiscal year 2025 amounted to $821 million, demonstrating an annual growth rate of 32%.
[Kuaishou (1024 HK, BUY, TP HK$70) TP Change]: C4Q24 Review: Temporary Setback a Chance to Buy
- Kuaishou reported C4Q24 revenue, IFRS operating profit, and IFRS net income slightly below our estimates and consensus. Margin outperformed.
- Advertising and e-commerce revenue growth temporarily slowed from due to Kuaishou’s offering traffic subsidies to the internal merchants, reducing incentive to advertise, but will translate to revenues later;
- We cut TP from HK$72 to HK$70 to reflect lowered margin outlook due to AI-related capex and R&D expenses
Horizon Robotics (9660.HK): The Stock Probably Peaked at HK$10.00+ As IPO Lock-Up Expires in April
- Horizon Robotics, a leading provider of integrated computing solutions for ADAS and AD for consumer vehicles, went public in October of 2024 in Hong Kong.
- The Chinese technology company priced its IPO at HK$3.99 per share and raised ~HK$5.4B or $696M. The offering was multiple times oversubscribed.
- The company’s market cap peaked at ~$18B in February and exceeded valuation of Mobileye Global. I expect a near-term selling pressure as IPO lock-up expires in April.
MoneyHero: Three Key Questions Critical to the Investment Thesis
- We believe addressing these three key areas remains essential for strengthening the investment thesis and enhancing investors’ confidence in the company’s long-term value proposition.
- 1) The company’s differentiation strategy within the relatively crowded Hong Kong and Singapore insurance marketplaces; 2) its insurance offerings’ product market fit; 3) disclosure on cross-selling metrics going forward
- We think articulating a comprehensive strategy and detailed implementation roadmap, targeting these key areas, can enhance investor confidence and potentially provide support for the company’s valuation.
Synaptics Unleashes WiFi 8 & UWB Tech—Could This Be the Next Big Leap In IoT?
- Synaptics Inc.’s second quarter fiscal year 2025 performance provides a multifaceted picture of the company’s current standing and future opportunities.
- In this period, Synaptics reported revenue of $267 million, a 4% sequential increase and a 13% year-over-year rise, indicating modest growth driven primarily by gains in its Core IoT and Enterprise & Automotive sectors.
- A significant topic of discussion was the company’s acquisition agreement with Broadcom, a $198 million all-cash transaction intended to enhance Synaptics’ presence in the wireless connectivity space.
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