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 Bottom-Up

<ul><li>Axcelis Technologies, Inc. recently disclosed its financial results for the second quarter of 2024, revealing a combination of both robust achievements and projected challenges that could influence investor sentiment.</li><li>The company reported revenue of $257 million, surpassing expectations chiefly due to a favorable conversion of evaluation units into revenue and consistent high demand for its silicon carbide implantation systems.</li><li>Earnings per diluted share were also strong, amounting to $1.55, reflecting solid execution across the board.</li></ul>

Axcelis Technologies, Inc. recently disclosed its financial results for the second quarter of 2024, revealing a combination of both robust achievements and projected challenges that could influence investor sentiment.The company reported revenue of $257 million, surpassing expectations chiefly due to a favorable conversion of evaluation units into revenue and consistent high demand for its silicon carbide implantation systems.Earnings per diluted share were also strong, amounting to $1.55, reflecting solid execution across the board.

Axcelis Technologies Inc.: Enhancing Market Penetration in Asia & Expansion in the Aftermarket Services Sector Driving Growth! - Major Drivers

<ul><li>Axcelis Technologies has reported a strong start to 2024, surpassing expectations in its Q1 performance.</li><li>The company’s revenue stood at $252.4 million with earnings per diluted share increasing to $1.57, reflecting a 10% increase year-over-year.</li><li>More importantly, gross margins improved significantly by over 500 basis points primarily due to an advantageous product mix, although this was slightly offset by higher selling, research and development expenses, and taxes.</li></ul>

Axcelis Technologies has reported a strong start to 2024, surpassing expectations in its Q1 performance.The company’s revenue stood at $252.4 million with earnings per diluted share increasing to $1.57, reflecting a 10% increase year-over-year.More importantly, gross margins improved significantly by over 500 basis points primarily due to an advantageous product mix, although this was slightly offset by higher selling, research and development expenses, and taxes.

Axcelis Technologies Inc.: The Emergence of Data Centers and AI Computational Needs! - Major Drivers

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>Its a quarter too soon to go dumpster diving in the automotive semiconductor industry. Another round of cuts is likely coming. Consider this my earnings preview.</li><li><p>I have leaned bearish automotive semiconductors for a few months, and I think the call has been mostly correct.</p></li><li><p>For me, the beginning of my bearishness started when I highlighted that China would try to murder the supply aspect of the market for the foreseeable future</p></li></ul><div data-component-name="DigestPostEmbed"><a href="https://www.fabricatedknowledge.com/p/chinese-evs-and-the-lagging-edge" target="_blank" rel="noopener"></a></div>

Its a quarter too soon to go dumpster diving in the automotive semiconductor industry. Another round of cuts is likely coming. Consider this my earnings preview.I have leaned bearish automotive semiconductors for a few months, and I think the call has been mostly correct.For me, the beginning of my bearishness started when I highlighted that China would try to murder the supply aspect of the market for the foreseeable future

Hitting the Breaks: Automotive Semiconductors

<ul><li><a href="https://www.smartkarma.com/entities/entegris-inc" target="_blank" data-smartkarma-citation="entities:12493" rel="noopener">Entegris Inc (ENTG US)</a> - Memory spending is happening next year, but MSI remains weak.</li><li><a href="https://www.smartkarma.com/entities/astera-labs-inc" target="_blank" data-smartkarma-citation="entities:40921" rel="noopener">Astera Labs (ALAB US)</a> - This is now the second way to play a levered Trainium ramp, as they have extensive content with <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409" rel="noopener">Amazon.com Inc (AMZN US)</a>.</li><li><a href="https://www.smartkarma.com/entities/lattice-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:7855" rel="noopener">Lattice Semiconductor (LSCC US)</a> - Standard kitchen sink; I like the stock long-term.</li></ul>

Entegris Inc (ENTG US) - Memory spending is happening next year, but MSI remains weak.Astera Labs (ALAB US) - This is now the second way to play a levered Trainium ramp, as they have extensive content with Amazon.com Inc (AMZN US).Lattice Semiconductor (LSCC US) - Standard kitchen sink; I like the stock long-term.

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

<ul><li>This is our first report on Axcelis Technologies.</li><li>As the power market continues to strengthen, Axcelis is guiding for Q4 2023 revenue with a gross margin of approximately 45% and an EPS of around 00.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on Axcelis Technologies.As the power market continues to strengthen, Axcelis is guiding for Q4 2023 revenue with a gross margin of approximately 45% and an EPS of around 00.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Axcelis Technologies Inc.: Initiation of Coverage - The Silicon Carbide Revolution - How They're Leading the Charge in Power Technology! - Major Drivers

United States

Axcelis Technologies, Inc. manufactures components for the semiconductor industry. The Company designs, manufactures and services ion implantation, dry strip, thermal processing and curing equipment used in the fabrication of semiconductor chips. Axcelis Technologies sells their products to semiconductor chip manufacturers worldwide.

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Axcelis Technologies (ACLS US)

Axcelis Technologies Inc.: Enhancing Market Penetration in Asia & Expansion in the Aftermarket Services Sector Driving Growth! - Major Drivers

Axcelis Technologies, Inc. recently disclosed its financial results for the second quarter of 2024, revealing a combination of both robust...

Baptista Research

Axcelis Technologies Inc.: The Emergence of Data Centers and AI Computational Needs! - Major Drivers

Axcelis Technologies has reported a strong start to 2024, surpassing expectations in its Q1 performance. The company’s revenue stood at $252.4...

Baptista Research

Hitting the Breaks: Automotive Semiconductors

Its a quarter too soon to go dumpster diving in the automotive semiconductor industry. Another round of cuts is likely coming. Consider this my...

Fabricated Knowledge

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

What a week (I’m a bit late on this)! I wanted to give a quick overview of all the companies that reported last week. Lattice Semiconductor -...

Fabricated Knowledge

Axcelis Technologies Inc.: Initiation of Coverage - The Silicon Carbide Revolution - How They're Leading the Charge in Power Technology! - Major Drivers

This is our first report on Axcelis Technologies. As the power market continues to strengthen, Axcelis is guiding for Q4 2023 revenue with a gross...

Baptista Research

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