Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

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CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Equity Bottom-Up

<ul><li>High level of cash sales, earnings on an upcycle trend, and capable of funding growth internally relative to its sector</li><li>Automakers are shifting towards electric vehicles, increasing the demand for high-power testing equipment which should drive revenue</li><li>Adoption of new mobile technology, such as 5G, 3-D sensors, and mini LED, among Chroma’s customers should drive growth. Its fully automated high-speed testing equipment has strong competitive advantages</li><li>Trades above Asian Info Tech at 18CE* 5x PB but offers better ROE, higher dividend yield and Chroma is net cash</li><li>Risk: Capex slowdown from their main customer could reduce sales</li></ul><p><em>* Consensus Estimates</em></p>

High level of cash sales, earnings on an upcycle trend, and capable of funding growth internally relative to its sectorAutomakers are shifting towards electric vehicles, increasing the demand for high-power testing equipment which should drive revenueAdoption of new mobile technology, such as 5G, 3-D sensors, and mini LED, among Chroma’s customers should drive growth. Its fully automated high-speed testing equipment has strong competitive advantagesTrades above Asian Info Tech at 18CE* 5x PB but offers better ROE, higher dividend yield and Chroma is net cashRisk: Capex slowdown from their main customer could reduce sales* Consensus Estimates

Chroma (2360 TT): Testing Technology Around the Globe

Chroma Ate Inc

Chroma (2360 TT): Testing Technology Around the Globe