Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

Equity Bottom-Up

<ul>
<li>Immersion (IMMR) announced it had renewed its patent license agreement with Samsung Electronics removing the biggest risk overhang of 2024</li>
<li>Samsung has been IMMR’s largest customer at one point representing more than 60 percent of revenue. In the most recent 10K filing, IMMR describes Samsung as a significant customer</li>
<li>We assume there was a step down in the rate Samsung pays, since this is usually the norm with technology companies and IP deals</li>
</ul>


Immersion (IMMR) announced it had renewed its patent license agreement with Samsung Electronics removing the biggest risk overhang of 2024
Samsung has been IMMR’s largest customer at one point representing more than 60 percent of revenue. In the most recent 10K filing, IMMR describes Samsung as a significant customer
We assume there was a step down in the rate Samsung pays, since this is usually the norm with technology companies and IP deals


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

<ul>
<li>Nvidia announced another sharp sales increase to $26 billion in quarterly revenues</li>
<li>The company's growth is far greater than hyperscaler CapEx growth, as standard servers yield to AI servers: Bad news for Intel &amp; AMD</li>
<li>Some of this may stem from an inventory build at the hyperscaler, which may lead to another Boom/Bust cycle similar to 2018 and 2022</li>
</ul>


Nvidia announced another sharp sales increase to $26 billion in quarterly revenues
The company's growth is far greater than hyperscaler CapEx growth, as standard servers yield to AI servers: Bad news for Intel &amp; AMD
Some of this may stem from an inventory build at the hyperscaler, which may lead to another Boom/Bust cycle similar to 2018 and 2022


Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul><li>Pompeo advises Taiwan to innovate constantly in chip industry to maintain dominance and not be complacent.</li><li>LG Energy Solutions may surpass Panasonic in launching mass production of 46800 batteries, a significant development in the industry.</li><li>Canadian startup CEMWorks is positioning itself as a key player in semiconductors, 5G, and AI with its simulation tool. SDC and LGD lead OLED monitor market with fast growth and gaming focus. China's internet giants see 1Q24 revenue soar thanks to AI technology.</li></ul>

Pompeo advises Taiwan to innovate constantly in chip industry to maintain dominance and not be complacent.LG Energy Solutions may surpass Panasonic in launching mass production of 46800 batteries, a significant development in the industry.Canadian startup CEMWorks is positioning itself as a key player in semiconductors, 5G, and AI with its simulation tool. SDC and LGD lead OLED monitor market with fast growth and gaming focus. China's internet giants see 1Q24 revenue soar thanks to AI technology.

Tech Supply Chain Tracker (22-May-2024): Pompeo urges Taiwan to innovate for chip dominance.

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX Stocks as of May 17th which has an aggregated holding worth USD545.3bn.</li>
<li>We estimate that foreign flows to be inflows of USD720mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Sk Hynix (000660 KS),  Samsung Electronics (005930 KS).</li>
</ul>


We analyzed the changes in foreign holdings of KRX Stocks as of May 17th which has an aggregated holding worth USD545.3bn.
We estimate that foreign flows to be inflows of USD720mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Sk Hynix (000660 KS),  Samsung Electronics (005930 KS).


KRX Foreign Holding Weekly (May 17th): Sk Hynix, Samsung Electronics

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Thematic (Sector/Industry)

<ul>
<li>Q124 DRAM revenue $18.2 billion, up 6% QoQ and up 88% YoY. NAND revenue $14.1 billion, up 23.4% QoQ and 68.8% YoY</li>
<li>ASP increases, HBM, NAND for enterprise SSD and looming shortages for legacy products are all mounting tailwinds for the beleaguered memory segment</li>
<li>First quarter ASP increases for DRAM &amp; NAND for Micron, SK Hynix &amp; Samsung were almost identical. That's quite a coincidence..</li>
</ul>


Q124 DRAM revenue $18.2 billion, up 6% QoQ and up 88% YoY. NAND revenue $14.1 billion, up 23.4% QoQ and 68.8% YoY
ASP increases, HBM, NAND for enterprise SSD and looming shortages for legacy products are all mounting tailwinds for the beleaguered memory segment
First quarter ASP increases for DRAM &amp; NAND for Micron, SK Hynix &amp; Samsung were almost identical. That's quite a coincidence..


Semiconductor Memory. Profits Return & Tailwinds Mount On Surging (& Very Similar) ASP Increases

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (SMSN LI)

IMMR: Biggest Risk Overhang Removed

IMMR renewing its patent agreement with Samsung Electronics, its largest customer. We assume there is a step down in the per unit rate Samsung...

BWS Financial Inc

Nvidia Up Sharply Again - Can This Last?

Nvidia's quarterly sales of $26 billion, driven by AI server demand, poses a threat to Intel and AMD, but hyperscalers may be building up...

Jim Handy

Tech Supply Chain Tracker (22-May-2024): Pompeo urges Taiwan to innovate for chip dominance.

Pompeo urges Taiwan to innovate in chips, LGES to surpass Panasonic in battery production, CEMWorks aims to excel in semiconductors, SDC and LGD...

Tech Supply Chain Tracker

KRX Foreign Holding Weekly (May 17th): Sk Hynix, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Samsung Electronics.

Ke Yan, CFA, FRM

Semiconductor Memory. Profits Return & Tailwinds Mount On Surging (& Very Similar) ASP Increases

Q124 DRAM revenue $18.2 billion, up 6% QoQ and up 88% YoY. NAND revenue $14.1 billion, up 23.4% QoQ and 68.8% YoY. Q124 ASP increases for Micron,...

William Keating

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

IMMR: Biggest Risk Overhang Removed

IMMR renewing its patent agreement with Samsung Electronics, its largest customer. We assume there is a step down in the per unit rate Samsung...

BWS Financial Inc

Nvidia Up Sharply Again - Can This Last?

​Nvidia's quarterly sales of $26 billion, driven by AI server demand, poses a threat to Intel and AMD, but hyperscalers may be building up...

Jim Handy

Tech Supply Chain Tracker (22-May-2024): Pompeo urges Taiwan to innovate for chip dominance.

Pompeo urges Taiwan to innovate in chips, LGES to surpass Panasonic in battery production, CEMWorks aims to excel in semiconductors, SDC and LGD...

Tech Supply Chain Tracker

KRX Foreign Holding Weekly (May 17th): Sk Hynix, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Samsung Electronics.

Ke Yan, CFA, FRM

Semiconductor Memory. Profits Return & Tailwinds Mount On Surging (& Very Similar) ASP Increases

Q124 DRAM revenue $18.2 billion, up 6% QoQ and up 88% YoY. NAND revenue $14.1 billion, up 23.4% QoQ and 68.8% YoY. Q124 ASP increases for Micron,...

William Keating

Nvidia's quarterly sales of $26 billion, driven by AI server demand, poses a threat to Intel and AMD, but hyperscalers may be building up...