IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/o2micro-international-limited" target="_blank" data-smartkarma-citation="entities:36418:1" rel="noopener">O2Micro International (OIIM US)</a> entered into a definitive agreement for going private with FNOF Precious Honour Limited at US$5.00 per ADS, a 54.8% to the undisturbed price (17 March).</li>
<li>Shareholders representing two-thirds of shares present and voting need to approve the deal. The rollover shareholders represent 16.90% of voting rights.</li>
<li>The offer is attractive in the context of O2Micro’s weakening performance and grim market conditions. At the last close, the gross spread is 18.2%. Expect a 1Q23 deal close.</li>
</ul>



O2Micro International (OIIM US) entered into a definitive agreement for going private with FNOF Precious Honour Limited at US$5.00 per ADS, a 54.8% to the undisturbed price (17 March).
Shareholders representing two-thirds of shares present and voting need to approve the deal. The rollover shareholders represent 16.90% of voting rights.
The offer is attractive in the context of O2Micro’s weakening performance and grim market conditions. At the last close, the gross spread is 18.2%. Expect a 1Q23 deal close.


O2Micro Enters into a Definite Privatisation Agreement at US$5.00 Per ADS

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>Semiconductor revenues continue to fall. which appears to be a repeat of the collapse in 2019</li>
<li>Spot market prices, a leading indicator, are soft for both DRAM and NAND flash</li>
<li>It is likely that semiconductor revenues will end the year by returning to the trendline of their historical growth of 3.9%</li>
</ul>


Semiconductor revenues continue to fall. which appears to be a repeat of the collapse in 2019
Spot market prices, a leading indicator, are soft for both DRAM and NAND flash
It is likely that semiconductor revenues will end the year by returning to the trendline of their historical growth of 3.9%


Semiconductors Just Beginning a Long Slide

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>On 12 August, the South Korean government finally gave a presidential pardon to Samsung's heir Lee Jae-Yong.</li>
<li>With Lee Jae-Yong given the presidential pardon, there is an increasing likelihood that the Samsung Group could become more aggressive in making major global M&amp;As in the next several years.</li>
<li>Three major M&amp;As that Samsung could make in the next several years include ARM, Infineon, and NXP Semiconductor. </li>
</ul>


On 12 August, the South Korean government finally gave a presidential pardon to Samsung's heir Lee Jae-Yong.
With Lee Jae-Yong given the presidential pardon, there is an increasing likelihood that the Samsung Group could become more aggressive in making major global M&amp;As in the next several years.
Three major M&amp;As that Samsung could make in the next several years include ARM, Infineon, and NXP Semiconductor. 


Samsung's Lee Jae-Yong Receives Pardon & Get Out of Jail Card: A Signal of Major M&As by Samsung?

<ul>
<li>WSTS June semiconductor revenues indicate the onset of a trend of flat-to-down sales</li>
<li>Recent chip company earnings calls largely project a down market in the current quarter</li>
<li>This is most likely the beginning of a 1½ -year downturn in semiconductors</li>
</ul>


WSTS June semiconductor revenues indicate the onset of a trend of flat-to-down sales
Recent chip company earnings calls largely project a down market in the current quarter
This is most likely the beginning of a 1½ -year downturn in semiconductors


Semiconductors Have Reached Turning Point

<ul>
<li>Micron recently announced a record-breaking quarter but guided lower for the current quarter</li>
<li>Consumer demand is slackening although other sectors remain strong for now</li>
<li>Macronix provides a little more insight, as the company reports monthly revenues</li>
</ul>


Micron recently announced a record-breaking quarter but guided lower for the current quarter
Consumer demand is slackening although other sectors remain strong for now
Macronix provides a little more insight, as the company reports monthly revenues


Does Micron's Lower Guidance Mean Doom for Tech?

Netherlands

NXP Semiconductors NV operates as a global semiconductor company. The Company designs semiconductors and software for mobile communications, consumer electronics, security applications, in-car entertainment, and networking.  NXP offers its products to the automotive, identification, wireless infrastructure, lighting, mobile, and computing applications.

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Nxp Semiconductors Nv (NXPI US)

O2Micro Enters into a Definite Privatisation Agreement at US$5.00 Per ADS

The offer is attractive in the context of O2Micro’s weakening performance and grim market conditions. At the last close, the gross spread is 18.2%....

Arun George

Semiconductors Just Beginning a Long Slide

The semiconductor market is falling and is likely to continue to drop through the end of the year. This presents an opportunity for shorts.

Jim Handy

Samsung's Lee Jae-Yong Receives Pardon & Get Out of Jail Card: A Signal of Major M&As by Samsung?

With Lee Jae-Yong given the presidential pardon, there is an increasing likelihood that the Samsung Group could become more aggressive in making...

Douglas Kim

Semiconductors Have Reached Turning Point

The semiconductor market is starting to change from unusual growth and record revenues to a downturn that will return it to its long-term trend. ...

Jim Handy

Does Micron's Lower Guidance Mean Doom for Tech?

Does Micron's reduced guidance imply that the semiconductor market is about to fall? Not quite, as today's weakness is limited to the consumer...

Jim Handy

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