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>October semiconductor revenues have been released setting a new record</li>
<li>The semiconductor market, whose revenues have been following a trend since 1996, are currently well above that trend</li>
<li>The ingredients for a collapse are not developing.  The current trend seems destined to continue for at least another couple of quarters, but probably longer.</li>
</ul>


October semiconductor revenues have been released setting a new record
The semiconductor market, whose revenues have been following a trend since 1996, are currently well above that trend
The ingredients for a collapse are not developing.  The current trend seems destined to continue for at least another couple of quarters, but probably longer.


October Semi Revenues Released: Even Farther Above Trend

<ul>
<li>WSTS released a forecast for 26% growth in 2021 and 9% in 2022 </li>
<li>Prior WSTS forecasts have been overheated in up years and too modest in down years</li>
<li>If today's demand bubble continues, sub-10% 2022 growth is likely.  Otherwise, there could be a collapse.</li>
</ul>


WSTS released a forecast for 26% growth in 2021 and 9% in 2022 
Prior WSTS forecasts have been overheated in up years and too modest in down years
If today's demand bubble continues, sub-10% 2022 growth is likely.  Otherwise, there could be a collapse.


WSTS Semi Forecast Very Bullish for 2021-22, but Is It Realistic?

Value Investing

Vladimir Dimitrov, CFA

Equity Bottom-Up

<ul>
<li>Texas Instruments is among the semiconductor companies where valuation is still linked to profitability.</li>
<li>The company's unique positioning results in sustainable competitive advantages and steady value creation.</li>
<li>Within the light of the recent market melt-up, Texas Instruments still trades at reasonable levels that allow for attractive returns.</li>
</ul>


Texas Instruments is among the semiconductor companies where valuation is still linked to profitability.
The company's unique positioning results in sustainable competitive advantages and steady value creation.
Within the light of the recent market melt-up, Texas Instruments still trades at reasonable levels that allow for attractive returns.


Texas Instruments: Long-Term Strategy As A Competitive Advantage

<p>The September semiconductor revenues are in, bringing the third quarter to a close.  Both the month and the quarter reached all-time highs.  Although today's boom shows no sign of ending, there is ample precedent to tell us what will occur once supply catches up with demand.  This Insight explores the current market and the likely outcome.</p>

The September semiconductor revenues are in, bringing the third quarter to a close.  Both the month and the quarter reached all-time highs.  Although today's boom shows no sign of ending, there is ample precedent to tell us what will occur once supply catches up with demand.  This Insight explores the current market and the likely outcome.

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 Capital Markets

Texas Instruments / Equity Capital Markets

<ul><li>Texas Instruments delivered a decent quarter with the top-line growth driven by a robust performance across the the Analog and Embedded Processing segments.</li><li>The company witnessed a staggering 40% growth in industrial market revenues and the automotive recovery continues to be a strong tailwind, showing a 20% growth.</li><li>On the consumer front, there has been an uptick in purchases of personal electronics and various gadgets due to the continued remote working trends which has benefitted Texas Instruments.</li></ul>

Texas Instruments delivered a decent quarter with the top-line growth driven by a robust performance across the the Analog and Embedded Processing segments.The company witnessed a staggering 40% growth in industrial market revenues and the automotive recovery continues to be a strong tailwind, showing a 20% growth.On the consumer front, there has been an uptick in purchases of personal electronics and various gadgets due to the continued remote working trends which has benefitted Texas Instruments.

Texas Instruments Incorporated - Investment Thesis

United States

Texas Instruments Incorporated operates as a semiconductor design and manufacturing company. The Company develops analog ICs and embedded processors. Texas Instruments has manufacturing or sales operations worldwide.

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Texas Instruments (TXN US)

October Semi Revenues Released: Even Farther Above Trend

October semiconductor revenues set a record once again, making the 2021 semiconductor market one to remember. A collapse appears unlikely in the...

Jim Handy

WSTS Semi Forecast Very Bullish for 2021-22, but Is It Realistic?

The semiconductor market is on a tear, and WSTS forecasts that next year will see solid growth. This Insight examines the likelihood that 2022...

Jim Handy

Texas Instruments: Long-Term Strategy As A Competitive Advantage

Texas Instruments is among the semiconductor companies where valuation is still linked to profitability. The company's unique positioning results...

Vladimir Dimitrov, CFA

Semiconductors Continue Full Speed Ahead

Again chip sales have reached record highs. How long will this last? What will happen when it ends? This Insight dips into that to provide some...

Jim Handy

Texas Instruments Incorporated - Investment Thesis

Texas Instruments delivered a decent quarter with the top-line growth driven by a robust performance across the the Analog and Embedded Processing...

Baptista Research

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