In today’s briefing:
- Chinese Semiconductor Beneficiary
- Axonics (AXNX US): Large Underserved Market And Superior Portfolio Ensure Multi-Year Growth
- Fortinet Inc.: Launch Of Data Center Firewalls With AI Support & Other Major Developments
- Skyworks Solutions Inc.: Embracing AI & Data – The Master Plan for Future Expansion! – Major Drivers
- NTGR: Undervalue of Seasonality
- Jacobs Solutions Inc.: What the Healthy Pipeline Means for Future Growth! – Major Drivers
- Cardinal Health Inc.: How Their Pioneering NTrainer System 2.0 is Changing Neonatal Care Forever! – Major Drivers
- NOW, Inc. – Leveraging Existing Model to Supply Energy Evolution
- MillerKnoll, Inc. – 1QFY24 Beats Estimates on Gross Margin; Hikes Guidance
- ConocoPhillips: Resilience Amidst Volatility – The Road to Value Creation! – Major Drivers
Chinese Semiconductor Beneficiary
- ACM Research is a bit of an oddball stock. It’s a US listing of a Chinese company, with 82% ownership of the Chinese subsidiary.
- The US listing is the parent company and has been in the crossfire of US-China trade tensions for years.
- It is probably the best Chinese Semicap company and has real orders with multinational companies, notably SK Hynix.
Axonics (AXNX US): Large Underserved Market And Superior Portfolio Ensure Multi-Year Growth
- Axonics (AXNX US) believes that the U.S. sacral neuromodulation market is now worth of ~$800M, which is poised to double over the next five years to $1.6B.
- The company has been reporting superior revenue growth since 2020. Axonics raised 2023 revenue guidance to $358M, up 32% YoY. The company has become adjusted EBITDA positive in 2022.
- With superior product portfolio in terms of patient satisfaction, longer product life, and smaller size, Axonics is the stronger player in the U.S. duopoly sacral neuromodulation market.
Fortinet Inc.: Launch Of Data Center Firewalls With AI Support & Other Major Developments
- Fortinet Inc. delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par earnings.
- Their quarter was marked by impressive total revenue growth of 26%, driven primarily by solid service revenue expansion exceeding 30% for the second consecutive quarter.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Skyworks Solutions Inc.: Embracing AI & Data – The Master Plan for Future Expansion! – Major Drivers
- Skyworks Solutions Inc. delivered a revenue beat in the most recent quarterly result with earnings on par with Wall Street expectations.
- The company reported $1.071 billion in revenue and earnings per share of $1.73.
- The company also made strides in diversifying its portfolio, particularly in automotive and infrastructure markets, resulting in double-digit year-over-year revenue growth.
NTGR: Undervalue of Seasonality
- The third quarter could become a defining moment for NETGEAR (NTGR) and its stock price.
- With less than a week left in the third quarter, we have observed how the return of seasonality has reduced the frequency and depth of discounts
- Seasonality has not been present in NTGR’s business since 2019. As a result, investors might be neglecting the lift in demand NTGR could experience
Jacobs Solutions Inc.: What the Healthy Pipeline Means for Future Growth! – Major Drivers
- Jacobs Solutions delivered a decent set of quarterly results, marked by substantial gross and adjusted net revenue growth, well above Wall Street expectations.
- Gross income increased, with adjusted net income growing year-over-year.
- Notably, the company’s gross margin slightly decreased, primarily due to factors related to PA Consulting.
Cardinal Health Inc.: How Their Pioneering NTrainer System 2.0 is Changing Neonatal Care Forever! – Major Drivers
- Cardinal Health Inc. delivered a positive result and managed an all-around beat last quarter.
- The Pharma segment demonstrated remarkable profit growth of 13%, and the company generated significant adjusted free cash flow amounting to $2.8 billion.
- Cardinal Health pursued determined actions to advance its strategic imperatives, streamlining its operations, optimizing its organizational structure, and instituting fundamental leadership changes.
NOW, Inc. – Leveraging Existing Model to Supply Energy Evolution
We hosted a fireside chat with DNOW on September 12, 2023.
We were joined by President and Chief Executive Officer David Cherechinsky and Vice President Digital Strategy and Investor Relations Brad Wise.
DNOW’s transformed fulfillment model is driving sustainable earnings traction as the company increases its market share.
MillerKnoll, Inc. – 1QFY24 Beats Estimates on Gross Margin; Hikes Guidance
After market close on September 26, MillerKnoll reported 1QFY24, beating estimates on significantly above-forecasted gross margin and modestly better-than-estimated sales.
Our tabular analysis compares its 1QFY24 results with 1QFY23 and our 1QFY24 estimates.
The beat notwithstanding, MillerKnoll’s results were below 1QFY23, which benefited from ~$77 million in sales due to a 14th week.
ConocoPhillips: Resilience Amidst Volatility – The Road to Value Creation! – Major Drivers
- ConocoPhillips delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.
- The company executed several significant agreements and acquisitions, including purchasing the remaining 50% of Surmont, a valuable asset expected to contribute substantial free cash flow.
- Despite commodity price volatility, the company delivered an underlying solid performance, achieving significant global and Lower 48 production and raising yearly production guidance.
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