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>Indie Semiconductor's Q1 2024 financial results and strategic discussion provide both encouraging and cautionary insights.</li><li>During this period, the company reported a year-over-year revenue increase of 29% to $52.4 million, driven by strong performance in their Autotech market segment, albeit slightly below the provided guidance.</li><li>Gross profit stood at $26.4 million, reflecting a gross margin of 50.3%, which fell short of expectations due to unfavorable product mix adjustments.</li></ul>

Indie Semiconductor's Q1 2024 financial results and strategic discussion provide both encouraging and cautionary insights.During this period, the company reported a year-over-year revenue increase of 29% to $52.4 million, driven by strong performance in their Autotech market segment, albeit slightly below the provided guidance.Gross profit stood at $26.4 million, reflecting a gross margin of 50.3%, which fell short of expectations due to unfavorable product mix adjustments.

Can indie Semiconductor Get Acquired? A Market-Defining Technology With High Differentiation & 3 Critical Factors Making It An Attractive Target! - 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><p>This is my quarterly piece, where I round up all of my favorite ideas (more explicitly) and explain some semiconductor jargon. This is a meta piece of content.</p></li><li>First and foremost, I’ll start with performance. SMH returned 14% this quarter, among the best quarters in history for the semiconductor universe (again).</li><li>This quarter's leader was AOSL, who is rumored to have won a socket at Nvidia.</li></ul>

This is my quarterly piece, where I round up all of my favorite ideas (more explicitly) and explain some semiconductor jargon. This is a meta piece of content.First and foremost, I’ll start with performance. SMH returned 14% this quarter, among the best quarters in history for the semiconductor universe (again).This quarter's leader was AOSL, who is rumored to have won a socket at Nvidia.

Fabricated Knowledge Q2 2024 Quarterly Review

<ul>
<li>This is the first edition of a quarterly summary piece to highlight my ideas and best pieces quarterly.</li>
<li>This is one of the 16th-best quarters in SOXX since 2002. While it’s a pretty solid showing at a 17% quarterly return, this doesn’t compare to the incredible returns in 2020 and 2023.</li>
<li>Now, the misleading thing is that SMH, a broader ETF, is up 30%.</li>
</ul>


This is the first edition of a quarterly summary piece to highlight my ideas and best pieces quarterly.
This is one of the 16th-best quarters in SOXX since 2002. While it’s a pretty solid showing at a 17% quarterly return, this doesn’t compare to the incredible returns in 2020 and 2023.
Now, the misleading thing is that SMH, a broader ETF, is up 30%.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Robosense Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-robosense-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:39903:1" rel="noopener">Robosense Technology (ROBO HK)</a> (RT) is now looking to raise up to US$150m in its upcoming Hong Kong IPO, down from US$300-400m earlier.</li>
<li>As of Mar 23, it had earned design wins for mass production of LiDAR for 52 vehicles with 21OEMs and Tier 1 suppliers, ranking No. 1 globally, according to CIC.</li>
<li>We looked at its past performance in our earlier notes. In this note, we talk about its PHIP updates.</li>
</ul>



Robosense Technology (ROBO HK) (RT) is now looking to raise up to US$150m in its upcoming Hong Kong IPO, down from US$300-400m earlier.
As of Mar 23, it had earned design wins for mass production of LiDAR for 52 vehicles with 21OEMs and Tier 1 suppliers, ranking No. 1 globally, according to CIC.
We looked at its past performance in our earlier notes. In this note, we talk about its PHIP updates.


Robosense Technology Pre-IPO - PHIP Updates - ADAS Sales Strong but Profitability Remains Distant

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-robosense-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:39903:1" rel="noopener">Robosense Technology (ROBO HK)</a> (RT) is looking to raise around US$400m (estimated) in its upcoming Hong Kong IPO. </li>
<li>As of Mar 23, it had earned design wins for mass production of LiDAR for 52 vehicles with 21OEMs and Tier 1 suppliers, ranking No. 1 globally, according to CIC.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Robosense Technology (ROBO HK) (RT) is looking to raise around US$400m (estimated) in its upcoming Hong Kong IPO. 
As of Mar 23, it had earned design wins for mass production of LiDAR for 52 vehicles with 21OEMs and Tier 1 suppliers, ranking No. 1 globally, according to CIC.
In this note, we talk about the positive aspects of the deal.


Robosense Technology Pre-IPO - The Positives - A Whole Lot of Potential

China

indie Semiconductor, Inc. empowers an autotech revolution with next generation automotive semiconductors and software platforms. The Company focuses on edge sensors for advanced driver assistance systems including lidar, connected car, user experience, and electrification applications. indie Semiconductor serves customers worldwide.

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indie Semiconductor (INDI US)

Can indie Semiconductor Get Acquired? A Market-Defining Technology With High Differentiation & 3 Critical Factors Making It An Attractive Target! - Major Drivers

Indie Semiconductor's Q1 2024 financial results and strategic discussion provide both encouraging and cautionary insights. During this period, the...

Baptista Research

Fabricated Knowledge Q2 2024 Quarterly Review

Here's everything that happened this quarter, and some thoughts and ideas. This is my quarterly piece, where I round up all of my favorite ideas...

Fabricated Knowledge

Fabricated Knowledge Quarterly Review

This is the first edition of a quarterly summary piece to highlight my ideas and best pieces quarterly. This is one of the 16th-best quarters in...

Fabricated Knowledge

Robosense Technology Pre-IPO - PHIP Updates - ADAS Sales Strong but Profitability Remains Distant

Robosense Technology (ROBO HK) (RT) is now looking to raise up to US$150m in its upcoming Hong Kong IPO, down from US$300-400m earlier.

Sumeet Singh

Robosense Technology Pre-IPO - The Positives - A Whole Lot of Potential

Robosense filed its PHIP for an HK listing over the weekend. We looked at the company's past performance in our earlier notes.

Sumeet Singh

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