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>Ciena Corporation recently held its fiscal fourth quarter and year-end earnings call for 2024.</li><li>In terms of financial performance, the company reported a strong fourth quarter, with revenue reaching $1.12 billion, and the full fiscal year revenue amounting to $4 billion.</li><li>The adjusted gross margin for Q4 was reported at 41.6%, which was lower than anticipated due to a larger provision for excess and obsolescence in inventory — a significant point of concern that influenced margins by approximately 200 basis points.</li></ul>

Ciena Corporation recently held its fiscal fourth quarter and year-end earnings call for 2024.In terms of financial performance, the company reported a strong fourth quarter, with revenue reaching $1.12 billion, and the full fiscal year revenue amounting to $4 billion.The adjusted gross margin for Q4 was reported at 41.6%, which was lower than anticipated due to a larger provision for excess and obsolescence in inventory — a significant point of concern that influenced margins by approximately 200 basis points.

Ciena Corporation: Can Its Expansion of Managed Optical Fiber Networks (MOFN) Up Their Game? - Major Drivers

<ul><li>Ciena Corporation's fiscal third quarter 2024 exhibited robust performance, highlighting the company's solid market positioning and potential forward trajectory.</li><li>The company reported revenue of $942 million, with an adjusted gross margin of 43.7% and adjusted EPS of $0.35.</li><li>These figures signify a strong quarter underpinned by strategic wins particularly with cloud providers, though some cautiousness remains concerning service provider behaviors, especially internationally.</li></ul>

Ciena Corporation's fiscal third quarter 2024 exhibited robust performance, highlighting the company's solid market positioning and potential forward trajectory.The company reported revenue of $942 million, with an adjusted gross margin of 43.7% and adjusted EPS of $0.35.These figures signify a strong quarter underpinned by strategic wins particularly with cloud providers, though some cautiousness remains concerning service provider behaviors, especially internationally.

Ciena Corporation: How Are They Executing Market Expansion through Pluggables? - Major Drivers

<ul><li>Ciena Corporation reported its fiscal second quarter 2024 financial results, delivering a mixture of strengths and areas for caution.</li><li>Revenue for the quarter reached $911 million, aligned with market expectations but reflecting the ongoing variability in the order patterns of service providers, particularly impacted by inventory adjustments.</li><li>The adjusted gross margin stood at 43.5%, showcasing the company's ability to maintain profitability even in a fluctuating market scenario.</li></ul>

Ciena Corporation reported its fiscal second quarter 2024 financial results, delivering a mixture of strengths and areas for caution.Revenue for the quarter reached $911 million, aligned with market expectations but reflecting the ongoing variability in the order patterns of service providers, particularly impacted by inventory adjustments.The adjusted gross margin stood at 43.5%, showcasing the company's ability to maintain profitability even in a fluctuating market scenario.

Ciena Corporation: Increased Deployment of Coherent Pluggable Technology in Data Centers! - Major Drivers

<ul><li>Ciena Corporation exceeded analyst expectations in terms of revenue as well as earnings, marking a remarkable achievement with a revenue of $1.13 billion and an adjusted gross margin of 43.7%.</li><li>Ciena is in a favorable position in the optical industry because of the success of WaveLogic 5 and the momentum of WaveLogic 6.</li><li>Cloud providers remain a pivotal customer segment, with Q4 direct cloud provider revenue accounting for 35% of total revenue, a substantial 57% YoY growth.</li></ul>

Ciena Corporation exceeded analyst expectations in terms of revenue as well as earnings, marking a remarkable achievement with a revenue of $1.13 billion and an adjusted gross margin of 43.7%.Ciena is in a favorable position in the optical industry because of the success of WaveLogic 5 and the momentum of WaveLogic 6.Cloud providers remain a pivotal customer segment, with Q4 direct cloud provider revenue accounting for 35% of total revenue, a substantial 57% YoY growth.

Ciena Corporation: Redefining Communication Networks With WaveLogic & Groundbreaking Collaborations! - 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.

<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

United States

Ciena Corporation develops and markets communications network platforms and software, and offers professional services.  The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom and cable/MSO services providers, and enterprise and government networks.

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Ciena Corp (CIEN US)

Ciena Corporation: Can Its Expansion of Managed Optical Fiber Networks (MOFN) Up Their Game? - Major Drivers

Ciena Corporation recently held its fiscal fourth quarter and year-end earnings call for 2024. In terms of financial performance, the company...

Baptista Research

Ciena Corporation: How Are They Executing Market Expansion through Pluggables? - Major Drivers

Ciena Corporation's fiscal third quarter 2024 exhibited robust performance, highlighting the company's solid market positioning and potential...

Baptista Research

Ciena Corporation: Increased Deployment of Coherent Pluggable Technology in Data Centers! - Major Drivers

Ciena Corporation reported its fiscal second quarter 2024 financial results, delivering a mixture of strengths and areas for caution. Revenue for...

Baptista Research

Ciena Corporation: Redefining Communication Networks With WaveLogic & Groundbreaking Collaborations! - Major Drivers

Ciena Corporation exceeded analyst expectations in terms of revenue as well as earnings, marking a remarkable achievement with a revenue of $1.13...

Baptista Research

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

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