7 January 2026 | 9:09PM HKT Equity Research AMEC (688012.SS): China Semis Tour: Advanced node capacity expansion to drive growth; Migrating to platform solution; Buy We hosted AMEC management during our China Semis Tour in Shanghai on Jan 7. Key discussions focused on (1) product development progress, (2) competition edges; (3) logic/ memory end demand. Overall, management is positive on the rising demand from advanced logic, NAND and DRAM in the long term, driven by capacity expansion of advanced node, alt ...

AMI Asset Management Corp trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,889 shares of the semiconductor manufacturer’s stock after selling 3,874 shares during the quarter. Broadcom makes up about 4.1% of AMI Asset Management Corp’s investment portfolio, making the stock its 7th biggest position. AMI Asset Management Corp’s holdings in Broa ...

Group 1 - ASML is a critical supplier in the semiconductor industry, providing cutting-edge technology essential for its advancement [2][1] - The company is recognized for assembling the most advanced technology that supports the semiconductor sector [1]

Core Insights - Lattice Semiconductor Corporation specializes in low-power, field-programmable gate arrays (FPGAs) and competes with major players like Xilinx and Altera [1] Financial Performance - In Q3, Lattice reported earnings of 28 cents per share, meeting analyst expectations, with quarterly sales of $133.349 million, slightly above the anticipated $133.028 million [2][6] - The company forecasts Q4 adjusted EPS between 30 cents and 34 cents, compared to market estimates of 32 cents, with sales projections ranging from $138 million to $148 million, exceeding the expected $141.918 million [3][6] Market Outlook - Robert W. Baird set a price target of $75 for LSCC, indicating a potential upside of 12.26% from its trading price of $66.81 [2] - CEO Ford Tamer emphasized broad-based growth across various markets and expressed optimism for continued growth into Q4 and beyond, highlighting a 13% growth in revenue and non-GAAP EPS [4] Stock Performance - LSCC's current stock price is $66.84, reflecting a decrease of 8.21% or $5.98, with a market capitalization of approximately $9.15 billion [5]

Core Viewpoint - Adeia has filed two lawsuits against AMD for allegedly infringing on ten patents related to semiconductor innovations, claiming that several AMD processor models violate its patent rights [1][3]. Group 1: Lawsuits and Allegations - Adeia's lawsuits were filed in Texas federal court, alleging that AMD's processors used in desktops, laptops, and servers infringe on its patents for improved semiconductor manufacturing [1]. - The lawsuits specifically mention that AMD processors utilizing "3D V-Cache" technology, including AI chips, were developed using Adeia's patented methods [3]. Group 2: Company Background and Statements - Adeia, previously the intellectual property licensing unit of TiVo owner Xperi, became an independent company in 2022 [3]. - Adeia's CEO stated that AMD's use of its technology has significantly contributed to AMD's success as a market leader and expressed openness to a fair arrangement reflecting the value of Adeia's intellectual property [2]. Group 3: Legal Demands - Adeia is seeking unspecified monetary damages and a court order to prevent AMD from using its patented technology [4].

Core Viewpoint - Skyworks Solutions Inc. is experiencing a positive shift in investor sentiment, reflected in stock upgrades and improved earnings expectations, positioning the company for future growth in the semiconductor industry [2][3][5]. Company Overview - Skyworks Solutions Inc. specializes in analog semiconductors essential for wireless communication systems, maintaining a significant market position despite competition from firms like Broadcom and Qualcomm [1]. Stock Performance - On October 28, 2025, Citigroup upgraded Skyworks' stock from Sell to Neutral, with the stock priced at $80.26, indicating a shift in sentiment towards the company's prospects [2]. - The stock has seen a price increase of $4.42 or 5.83%, suggesting growing investor confidence [2]. - Skyworks has a Zacks Rank 2 (Buy), indicating positive expectations for its earnings and an upward trend in earnings forecasts [3]. Trading Activity - The stock's trading volume reached 11,092,432 shares, indicating significant market interest [4]. - The daily price range was between $80.17 and $90.90, showcasing volatility and potential for growth [4]. - Over the past year, the stock fluctuated between a high of $98.34 and a low of $47.93, highlighting its dynamic nature [4]. Market Capitalization - Skyworks' market capitalization is approximately $11.91 billion, underscoring its substantial presence in the semiconductor sector [5].

Core Insights - KLA Corporation is a leading player in the semiconductor industry, focusing on process control and yield management solutions, with a market capitalization of $139.9 billion [1] Financial Performance - KLA is expected to report an adjusted profit of $8.47 per share for Q1, reflecting a 15.6% increase from $7.33 per share in the same quarter last year [2] - For the full fiscal year 2026, adjusted EPS is projected to be $34.55, a 3.8% increase from $33.28 in 2025, with further growth anticipated in fiscal 2027 to $39.35 per share, representing a 13.9% year-over-year increase [3] Stock Performance - KLA's stock has increased by 30.9% over the past 52 weeks, outperforming the Technology Select Sector SPDR Fund's 25.9% gains and the S&P 500 Index's 16.3% returns during the same period [4] Recent Results - Following the release of impressive Q4 results, KLA's net revenues surged 23.6% year-over-year to $3.2 billion, exceeding expectations by 3.2%. Adjusted net income rose by 11% to $1.2 billion, with adjusted EPS of $9.38 surpassing consensus estimates by nearly 10% [5] Analyst Sentiment - Analysts maintain a consensus "Moderate Buy" rating for KLA stock, with 26 analysts providing coverage, including nine "Strong Buys," one "Moderate Buy," and 16 "Holds." The stock is currently trading above its mean price target of $982.50 [6]

Core Viewpoint - Soitec has appointed Julie Galland as the new permanent representative of CEA Investissement on its Board of Directors, replacing François Jacq, effective immediately [1][4]. Group 1: Appointment Details - Julie Galland has been serving as the Director of Technological Research at the French Alternative Energies and Atomic Energy Commission (CEA) since January 2023 [2]. - She holds degrees from École polytechnique and has a PhD in Solid-State Physics, bringing expertise in strategic technologies related to national sovereignty, energy transition, and digital technology [2]. Group 2: Previous Experience - Prior to her role at CEA, Galland worked at the Directorate-General for Enterprise (DGE) from 2012 to 2023, focusing on sectors such as semiconductors, health, aerospace, and digital technology [3]. - She led innovation and investment policies, contributing to the structuring of industrial sectors and public policy implementation [3]. Group 3: Company Overview - Soitec is a global leader in innovative semiconductor materials, generating sales of €0.9 billion in the fiscal year 2024-2025 [4]. - The company operates in three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI, employing over 2,200 people from 50 different nationalities [4]. - Soitec has registered nearly 4,300 patents, highlighting its commitment to technological performance and energy efficiency [4].

Core Viewpoint - ASML Holding N.V. is a leading player in the semiconductor industry, with strong stock performance and positive earnings expectations, supported by Deutsche Bank's upgraded price target [1][5]. Group 1: Stock Performance - ASML's stock closed at $962.61, reflecting a 1.17% increase from the previous session, outperforming major indices like the S&P 500, Dow, and Nasdaq [2]. - Over the past month, ASML's stock surged by 28.13%, significantly exceeding the Computer and Technology sector's 7.4% gain and the S&P 500's 2.87% increase [2][5]. - Currently trading at approximately $973.93, ASML's stock has fluctuated between a low of $966.23 and a high of $975.64 during the day [4]. Group 2: Earnings Expectations - ASML's upcoming earnings report is anticipated on October 15, 2025, with expected earnings of $6.36 per share, indicating a year-over-year growth of 9.66% [3]. - Revenue is projected to reach $8.81 billion, reflecting a 7.34% increase compared to the same quarter last year, suggesting continued strong performance [3][5]. Group 3: Analyst Ratings - Deutsche Bank reaffirmed its "Buy" rating for ASML, increasing the price target from EUR 700 to EUR 900, indicating strong confidence in the company's future performance [1][5].

Core Viewpoint - Shares of Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) have reached an all-time high of $286.00, indicating strong market performance and investor confidence in the company [1] Company Summary - TSMC's stock price has achieved a record level, reflecting its significant position in the semiconductor industry and potential growth prospects [1]