Independent Insight Provider, Japanese equities, LightStream Research

Scott Foster

Securities analyst covering electronics, precision equipment & robotics, engineering, construction, transport and other sectors for more than 25 years in Japan and 3 years in Korea. Permanent resident of Japan.

Independent Insight Provider, Japanese equities

Ferrotec. Accelerating Growth Across Multiple Niche Semi Segments

Ferrotec Placement - Small Deal for Accretion that Will Take a While

Semiconductor Silicon Wafers- Global Supply, Demand & Pricing Review Q2 2018

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.

Equity Bottom-Up

<ul>
<li>Ferrotec shares have dropped by a third since last July and are now selling at 8.2x EPS guidance and 0.6x book value.</li>
<li>Sales and operating should start to recover in 2H of FY Mar-24, led by power semiconductor substrates.</li>
<li>Buy for the upturn in the semiconductor cycle and capacity expansion in Japan, China and Malaysia. No significant damage from the Noto Peninsula earthquake has been reported.</li>
</ul>


Ferrotec shares have dropped by a third since last July and are now selling at 8.2x EPS guidance and 0.6x book value.
Sales and operating should start to recover in 2H of FY Mar-24, led by power semiconductor substrates.
Buy for the upturn in the semiconductor cycle and capacity expansion in Japan, China and Malaysia. No significant damage from the Noto Peninsula earthquake has been reported.


Ferrotec (6890 JP): Return to Growth Led by Power Semiconductor Substrates

Ferrotec Corp

Ferrotec (6890 JP): Return to Growth Led by Power Semiconductor Substrates