In today’s briefing:
- 2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer
- Skyworks Solutions Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- Skyworks Solutions Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- MergerTalk:Why Broadcom’s Pursuit of VMware Will Fare Better Than Nvidia’s Doomed Bid For ARM
- RPM International Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Lattice Semiconductor Corporation: Initiation of Coverage – Strong Macro & Other Drivers
- Packaging Corporation of America: Detailed Credit Analysis & Financial Strength Evaluation Report
- How to Manage Risk in Crypto
2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer
- Revolution Medicines (RVMD US) is focused on therapies to inhibit frontier targets in RAS-addicted cancers. The company’s pipeline is among the strongest in small-cap biotech.
- We expect Revolution Medicines shares to outperform the market over the next 12 months as solid performance from the RAS(ON) inhibitor pipeline and oral inhibitor of SHP2 continues.
- Investors gain confidence in the rest of the RAS(ON) inhibitor pipeline, including RMC-6291, RMC-6236, and RMC-5552. Management will provide topline data from RMC-4630-03 in 2H 2023.
Skyworks Solutions Inc.: Initiation of Coverage – Business Strategy & Key Drivers
- This is our first report on Skyworks, one of the leading suppliers of radio frequency (RF) components to the electronics industry.
- The company delivered another all-around beat in the last quarter driven by its diversified portfolio and expanding set of customers.
- Furthermore, the management delivered strong earnings in the automotive industry, with revenue strength emphasizing their connectivity and power isolation portfolio.
Skyworks Solutions Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- Skyworks Solutions is a major supplier in the field of radio frequency (RF) components.
- The company has been performing well financially off-late with its growth driven by its diversified portfolio and expanding set of customers.
- Furthermore, the management delivered strong earnings in the automotive industry, with revenue strength emphasizing their connectivity and power isolation portfolio.
MergerTalk:Why Broadcom’s Pursuit of VMware Will Fare Better Than Nvidia’s Doomed Bid For ARM
- While the size of the $61BN Broadcom/VMware deal has naturally attracted the scrutiny of regulators, the transaction’s regulatory obstacles are far less onerous than the failed Nvidia/Arm deal
- Timing risk is a consideration as we can expect a protracted review process
- If the regulatory review timeline does not stretch too far beyond the end 2023, there are still decent IRRs to be earned by arbs
RPM International Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report
- RPM International is a well-known specialty chemicals company and has been performing well financially off-late as per its recent results.
- As the company increased its market share, concrete mix and repair products have also experienced good growth in recent times.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Lattice Semiconductor Corporation: Initiation of Coverage – Strong Macro & Other Drivers
- This is our first report on Lattice Semiconductor.
- The company delivered impressive results in the third quarter, with an all-around beat and a quarterly revenue growth of 31% year over year.
- Overall, we initiate coverage on the stock of Lattice Semiconductor Corporation with a ‘Hold’ rating.
Packaging Corporation of America: Detailed Credit Analysis & Financial Strength Evaluation Report
- Packaging Corporation of America (PCA) is a leading manufacturer of containerboard and corrugated packaging products in the U.S.
- The company has had a decent financial performance despite supply chain issues and continues to receive good realizations from the implementation of its previously announced increase in price across all product lines, corrugated prices, and domestic containerboard.
- PCA is also benefiting from its plants and mills through material usage initiatives and process efficiency optimization efforts.
How to Manage Risk in Crypto
- We’ve seen enough incidents over the last few months, let alone years, to conclude there is a complete lack of adequate risk management in crypto.
- Throughout the Terra collapse, crypto credit crisis, and spectacular implosion of FTX we have collectively witnessed the industry’s largest (and most opaque) firms become insolvent in an instant.
- This begs the question: where were the basic financial risk controls that are mandatory in any other industry?
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