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 Capital Markets

Amkor Technology / Equity Capital Markets

<ul><li>Amkor produced a mixed set of results for the fourth-quarter with revenues of $1.9 billion that were above analyst expectations.</li><li>Demand for premium-tier smartphones was stronger than anticipated, while the automotive and industrial markets outperformed other markets where demand was weaker.</li><li>The demand for innovative packaging and infotainment systems helped the company was strong in the automotive and industrial sectors.</li></ul>

Amkor produced a mixed set of results for the fourth-quarter with revenues of $1.9 billion that were above analyst expectations.Demand for premium-tier smartphones was stronger than anticipated, while the automotive and industrial markets outperformed other markets where demand was weaker.The demand for innovative packaging and infotainment systems helped the company was strong in the automotive and industrial sectors.

Amkor Technology Inc.: Expansion of European Supply Chain & Other Drivers

<ul><li>Amkor Technology delivered excellent results in the last quarter and managed an all-around beat as its end markets showed a very strong demand.</li><li>Whereas market forecasts are weakened in some areas and the industry has been facing near-term macroeconomic headwinds, demand for the company’s advanced packaging technology stays strong, and the momentum strengthened in this quarter.</li><li>Revenue from computing end markets increased, and the test business of the company grew.</li></ul>

Amkor Technology delivered excellent results in the last quarter and managed an all-around beat as its end markets showed a very strong demand.Whereas market forecasts are weakened in some areas and the industry has been facing near-term macroeconomic headwinds, demand for the company’s advanced packaging technology stays strong, and the momentum strengthened in this quarter.Revenue from computing end markets increased, and the test business of the company grew.

Amkor Technology: Entry Into TSMC’s OIP 3DFabric Alliance & Other Developments

<ul><li>This is our first report on Amkor, a medium-sized provider of provider of outsourced semiconductor packaging and test services.</li><li>Although the market is experiencing macroeconomic challenges, demand for their services, particularly advanced packaging, is still strong.</li><li>The automotive semiconductor market is predicted to develop faster than the entire sector.</li></ul>

This is our first report on Amkor, a medium-sized provider of provider of outsourced semiconductor packaging and test services.Although the market is experiencing macroeconomic challenges, demand for their services, particularly advanced packaging, is still strong.The automotive semiconductor market is predicted to develop faster than the entire sector.

Amkor Technology Inc.: Initiation of Coverage – Financial Forecasts

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

ASE Technology Holding   / Equity Bottom-Up

<ul>
<li>ASE Holding revenue was NTD$144.4bn in 1Q22, which was 20.9% YoY and -16.5% QoQ. We expect the GM is 19.5% in 1Q22.</li>
<li>ASE Holding could target at NTD$148.1bn/20.5% GM in 2Q22. We expect the gross margin of IC ATM and EMS portions are around 26.8%/9.1% respectively.</li>
<li>We think it should be picking up since 2Q22 because of the seasonality, and it's likely to peak out until 4Q22.</li>
</ul>


ASE Holding revenue was NTD$144.4bn in 1Q22, which was 20.9% YoY and -16.5% QoQ. We expect the GM is 19.5% in 1Q22.
ASE Holding could target at NTD$148.1bn/20.5% GM in 2Q22. We expect the gross margin of IC ATM and EMS portions are around 26.8%/9.1% respectively.
We think it should be picking up since 2Q22 because of the seasonality, and it's likely to peak out until 4Q22.


ASE Holding (3711.TT): 1Q22 Results/​​ 2Q22 Outlook- The Hope Might Be in 2H22

Stock Market News, Outlooks, and Top Picks, Cappuccino Finance

Cappuccino Finance

Stock Market News, Outlooks, and Top Picks

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<ul><li>Amkor Technology manufactures and sells advanced semiconductor equipment.</li><li>They make semiconductor packaging and test services for leading semiconductor companies such as Intel, Samsung, AMD, and etc</li><li>The overall semiconductor industry has been growing, and Amkor’s revenue has been growing nicely as well.</li></ul>

Amkor Technology manufactures and sells advanced semiconductor equipment.They make semiconductor packaging and test services for leading semiconductor companies such as Intel, Samsung, AMD, and etcThe overall semiconductor industry has been growing, and Amkor’s revenue has been growing nicely as well.

United States

Amkor Technology, Inc. provides semiconductor packaging and test services.  The Company offers deep submicron wafer fabrication, wafer probe testing, integrated circuit packaging assembly and design, final testing, reliability testing, burn-in, and electrical characterization.

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Amkor Technology (AMKR US)

Amkor Technology Inc.: Expansion of European Supply Chain & Other Drivers

Amkor produced a mixed set of results for the fourth-quarter with revenues of $1.9 billion that were above analyst expectations. Demand for...

Baptista Research

Amkor Technology: Entry Into TSMC’s OIP 3DFabric Alliance & Other Developments

Amkor Technology delivered excellent results in the last quarter and managed an all-around beat as its end markets showed a very strong...

Baptista Research

Amkor Technology Inc.: Initiation of Coverage – Financial Forecasts

This is our first report on Amkor, a medium-sized provider of provider of outsourced semiconductor packaging and test services. Although the...

Baptista Research

ASE Holding (3711.TT): 1Q22 Results/ 2Q22 Outlook- The Hope Might Be in 2H22

ASE Holding revenue was NTD$144.4bn in 1Q22, which was 20.9% YoY and -16.5% QoQ. We expect the GM is 19.5% in 1Q22. ASE Holding could target at...

Patrick Liao

Where Are the Value Stocks?

Amkor Technology manufactures and sells advanced semiconductor equipment. They make semiconductor packaging and test services for leading...

Cappuccino Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Amkor Technology Inc.: Expansion of European Supply Chain & Other Drivers

Amkor produced a mixed set of results for the fourth-quarter with revenues of $1.9 billion that were above analyst expectations. Demand for...

Baptista Research

Amkor Technology: Entry Into TSMC’s OIP 3DFabric Alliance & Other Developments

Amkor Technology delivered excellent results in the last quarter and managed an all-around beat as its end markets showed a very strong...

Baptista Research

Amkor Technology Inc.: Initiation of Coverage – Financial Forecasts

This is our first report on Amkor, a medium-sized provider of provider of outsourced semiconductor packaging and test services. Although the...

Baptista Research

ASE Holding (3711.TT): 1Q22 Results/​​ 2Q22 Outlook- The Hope Might Be in 2H22

ASE Holding revenue was NTD$144.4bn in 1Q22, which was 20.9% YoY and -16.5% QoQ. We expect the GM is 19.5% in 1Q22. ASE Holding could target at...

Patrick Liao

Where Are the Value Stocks?

Amkor Technology manufactures and sells advanced semiconductor equipment. They make semiconductor packaging and test services for leading...

Cappuccino Finance

ASE Holding (3711.TT): 1Q22 Results/ 2Q22 Outlook- The Hope Might Be in 2H22