In today’s briefing:
- DISCO Corporation (TSE: 6146) – From Abrasive Wheels to AI Packaging Champion
- Intel (INTC.US): Qualcomm CEO Has Publicly Stated that Intel’s Technology Is Still Not Competitive.
- Taiwan Dual-Listings Monitor: TSMC Premium at Historically Extreme Level; ASE Bounces Off Parity
- Newgen Software Technologies- Forensic Update
- (Mostly) Asia-Pac M&A: Peak Rare Earths, Yutaka Giken, Shibaura, Johns Lyng, Ainsworth, Ashimori
- Ambarella’s IoT Surge Outpaces Automotive—But the Best Is Yet to Come!
- Texas Instruments’ Secret Weapon: How Geopolitical Dependability Could Redefine Chip Supply!
- Cadence Strikes Big: What The €2.7 Billion Hexagon Acquisition Means For The Future Of System Design!
- Plexus’ Global Strategy: Will Diversification Across Industries Guarantee Long-Term Growth?
- SentinelOne Inside: How the Singularity Platform Is Redefining Cybersecurity with AI!
DISCO Corporation (TSE: 6146) – From Abrasive Wheels to AI Packaging Champion
- DISCO is the global leader in wafer dicing and grinding, holding ~70–80% market share in critical back-end semiconductor tools.
- Anagement is expanding capacity via the Gohara Plant (FY2028) and upgrading innovation at the Haneda R&D Center (FY2025–27) to secure its edge in hybrid bonding, PLP, and stealth dicing.
- Revenues are projected to grow ~11% CAGR to FY2028, with EPS potentially reaching ¥1,500, but the stock trades at a premium ~33x FY26E P/E.
Intel (INTC.US): Qualcomm CEO Has Publicly Stated that Intel’s Technology Is Still Not Competitive.
- Intel Corp (INTC US) has not given up on Intel Foundry Service (IFS), even though it currently lacks any sizable clients.
- We are puzzled as to why Intel former CEO Pat Gelsinger insisted on entering the foundry market, which has so far weakened Intel’s financials without generating meaningful returns.
- Qualcomm Inc (QCOM US) CEO has publicly stated that Intel’s manufacturing technology is still not competitive.
Taiwan Dual-Listings Monitor: TSMC Premium at Historically Extreme Level; ASE Bounces Off Parity
- TSMC: 26.2% Premium; Historically Extreme Level to Open Fresh Short of the Spread
- UMC: +1.0% Premium: Wait for More Extreme Level Before Going Long or Short
- ASE: +2.7% Premium; Open Fresh Longs of ADR Spread Closer to Parity
Newgen Software Technologies- Forensic Update
- Newgen Software Technologies (NEWGEN IN) is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities.
- The company continues to exhibit aggressive accounting practice in FY25, where growth driven by overseas subsidiaries was majorly tied up in credit period. Higher provision on debtors is further concerning.
- High remuneration to promoters and independent directors, insider trading complaints, are few governance concerns
(Mostly) Asia-Pac M&A: Peak Rare Earths, Yutaka Giken, Shibaura, Johns Lyng, Ainsworth, Ashimori
- I tally 45 – mostly firm, mostly Asia-Pac – arb transactions currently being discussed and analysed on Smartkarma.
- Two new deals were discussed on Smartkarma this week: Peak Rare Earths (PEK AU) and Yutaka Giken (7229 JP).
- Key updates/news took place on Johns Lyng (JLG AU), Ainsworth Game Technology (AGI AU), Shibaura Electronics (6957 JP), Ashimori Industry (3526 JP), and Pacific Industrial (7250 JP).
Ambarella’s IoT Surge Outpaces Automotive—But the Best Is Yet to Come!
- Ambarella’s latest financial results provide a detailed overview of the company’s performance and strategic direction as of the second quarter of fiscal year 2026.
- The company reported a revenue of $95.5 million, representing a sequential increase of 11% and a year-over-year growth of approximately 50%.
- This was above the high end of their prior guidance, indicating strong momentum in their operations.
Texas Instruments’ Secret Weapon: How Geopolitical Dependability Could Redefine Chip Supply!
- Texas Instruments Incorporated (TI) reported its second-quarter financial results with revenues amounting to $4.4 billion, marking a 9% sequential increase and a 16% rise year-over-year.
- The distinct growth across major divisions, Analog, and Embedded Processing, was notable, achieving 18% and 10% year-on-year growth, respectively.
- The company’s other segments recorded a 14% increase from the prior year.
Cadence Strikes Big: What The €2.7 Billion Hexagon Acquisition Means For The Future Of System Design!
- Cadence Design Systems has turned heads with a definitive agreement to acquire Hexagon AB’s Design & Engineering unit—including the storied MSC Software—for €2.7 billion, paid 70% in cash and 30% in CDNS stock, with closing targeted for Q1’26.
- The incoming business generated ~$280 million of 2024 revenue, brings ~1,100 employees, and serves blue-chip aerospace and auto names such as Volkswagen Group, BMW, Toyota, Lockheed Martin, BAE, and Boeing.
- Strategically, the deal extends Cadence’s “Intelligent System Design” vision beyond chips and boards into the full palette of multiphysics—structures, motion, fluids, and electromagnetics—precisely where AI-era systems are converging.
Plexus’ Global Strategy: Will Diversification Across Industries Guarantee Long-Term Growth?
- Plexus Corp. presented its latest quarterly results, showing a mixed performance across various metrics while maintaining a strategic focus on long-term growth and operational efficiency.
- The company reported revenue of $1.018 billion, aligning with its guidance, and demonstrated consistent performance with a non-GAAP operating margin of 6%, meeting its stated goal.
- Key sectoral drivers included improved order activity from industrial and European defense customers, although the pace of program ramp-ups and tariff-related uncertainties posed challenges.
SentinelOne Inside: How the Singularity Platform Is Redefining Cybersecurity with AI!
- SentinelOne’s latest earnings for Q2 of fiscal year 2026 highlighted its significant achievements and growth drivers while outlining areas for potential challenges and opportunities.
- The company reported a total Annual Recurring Revenue (ARR) growth of 24%, surpassing the $1 billion mark, indicating robust performance in both new business generation and expansion of existing accounts.
- This milestone reflects SentinelOne’s growing market share and competitive strength, driven by its AI-powered cybersecurity solutions.
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