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>Skyworks Solutions posted robust performance during the fourth fiscal quarter of 2024, marked by revenues of $1.025 billion and earnings per share (EPS) at $1.55, aligning with or surpassing prior guidance midpoints.</li><li>The company generated $393 million in free cash flow, continuing its trend of strong cash generation, which for a second consecutive year surpassed $1.6 billion annually.</li><li>This financial stability underpins investments in technology advancements and product development crucial for future growth.</li></ul>

Skyworks Solutions posted robust performance during the fourth fiscal quarter of 2024, marked by revenues of $1.025 billion and earnings per share (EPS) at $1.55, aligning with or surpassing prior guidance midpoints.The company generated $393 million in free cash flow, continuing its trend of strong cash generation, which for a second consecutive year surpassed $1.6 billion annually.This financial stability underpins investments in technology advancements and product development crucial for future growth.

Skyworks Solutions: An Insight Into Its Diversification in Broad Markets & Other Major Drivers

<ul><li>Skyworks Solutions reported its fiscal third quarter 2024 results, highlighting revenues, earnings per share (EPS), and free cash flow that either met or exceeded prior guidance.</li><li>The company achieved revenues of $906 million and an EPS of $1.21.</li><li>Notably, their free cash flow generation remained robust, totaling $249 million for the quarter and reaching $1.3 billion year-to-date, which represents a significant 40% margin.</li></ul>

Skyworks Solutions reported its fiscal third quarter 2024 results, highlighting revenues, earnings per share (EPS), and free cash flow that either met or exceeded prior guidance.The company achieved revenues of $906 million and an EPS of $1.21.Notably, their free cash flow generation remained robust, totaling $249 million for the quarter and reaching $1.3 billion year-to-date, which represents a significant 40% margin.

Skyworks Solutions: Advancements in Data Centers and Wireless Infrastructure! - 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>KLA had a rare miss. The guidance was a bit light for the inspection execution machine.</li><li>KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.</li><li>KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91</li></ul>

KLA had a rare miss. The guidance was a bit light for the inspection execution machine.KLA rarely misses and is by far the best financially managed of the large-cap semicap companies.KLA reports Q2 EPS $6.16 ex-items vs FactSet $5.91

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Asia and Global Semiconductor and Tech Research

Andrew Lu

Thematic (Sector/Industry)

<ul>
<li>During MOI correction period, global semi equipment and manufacturing vendors might under-perform semi product companies on sales/earnings and share price performance in next 6 months given utilization remains below 80%.</li>
<li>A healthy MOI correction in PC/smartphone semi might result in global logic MOI to fall to 3.7-3.8 months in 3Q23, down 15% q/q and 8% y/y, heading to historical low. </li>
<li>China fabless reduced MOI to 6.4 months in 3Q23, down 16% q/q and 26% y/y. Although 2x over 3.5 months low, we expect 4-5 months in future due to restrictions.</li>
</ul>


During MOI correction period, global semi equipment and manufacturing vendors might under-perform semi product companies on sales/earnings and share price performance in next 6 months given utilization remains below 80%.
A healthy MOI correction in PC/smartphone semi might result in global logic MOI to fall to 3.7-3.8 months in 3Q23, down 15% q/q and 8% y/y, heading to historical low. 
China fabless reduced MOI to 6.4 months in 3Q23, down 16% q/q and 26% y/y. Although 2x over 3.5 months low, we expect 4-5 months in future due to restrictions.


More Signs of Fab Utilization Recovery Starting Mid-2024 Post Current MOI Correction

<ul><li>Skyworks Solutions Inc. management shared both encouraging and concerning updates in its recent earnings.</li><li>On the positive side, the company demonstrated solid financial performance in the second fiscal quarter of 2024, including revenue of $1.046 billion, earnings per share of $1.55, and generation of $300 million in operating cash flow.</li><li>The company sees significant opportunities in the edge IoT market with a robust design win pipeline for WiFi 6E and WiFi 7, indicating a possible multiyear upgrade cycle.</li></ul>

Skyworks Solutions Inc. management shared both encouraging and concerning updates in its recent earnings.On the positive side, the company demonstrated solid financial performance in the second fiscal quarter of 2024, including revenue of $1.046 billion, earnings per share of $1.55, and generation of $300 million in operating cash flow.The company sees significant opportunities in the edge IoT market with a robust design win pipeline for WiFi 6E and WiFi 7, indicating a possible multiyear upgrade cycle.

Skyworks Solutions Inc.: Continued Investment in Technology and Product Roadmaps! - Major Drivers

United States

Skyworks Solutions, Inc., a wireless semiconductor company, designs and manufactures radio frequency and complete semiconductor system solutions for mobile communications applications.  The Company provides front-end modules, radio frequency subsystems, and system solutions to wireless handset and infrastructure customers worldwide.

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Skyworks Solutions (SWKS US)

Skyworks Solutions: An Insight Into Its Diversification in Broad Markets & Other Major Drivers

Skyworks Solutions posted robust performance during the fourth fiscal quarter of 2024, marked by revenues of $1.025 billion and earnings per share...

Baptista Research

Skyworks Solutions: Advancements in Data Centers and Wireless Infrastructure! - Major Drivers

Skyworks Solutions reported its fiscal third quarter 2024 results, highlighting revenues, earnings per share (EPS), and free cash flow that either...

Baptista Research

KLA & LaserTec, AMD, Hyperscaler Capex, SK Hynix, SWKS and QRVO, WOLF, MCHP

Another week of earnings, with KLA having a rare miss and the guidance being a bit light for the inspection execution machine.

Fabricated Knowledge

More Signs of Fab Utilization Recovery Starting Mid-2024 Post Current MOI Correction

More Signs of Fab Utilization Recovery Starting Mid-2024 Post Current MOI Correction. During the period, global semi equipment and manufacturing...

Andrew Lu

Skyworks Solutions Inc.: Continued Investment in Technology and Product Roadmaps! - Major Drivers

Skyworks Solutions Inc. management shared both encouraging and concerning updates in its recent earnings. On the positive side, the company...

Baptista Research

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