Alex Huyberechts

🇧🇪🇺🇸

[Alex Huyberechts @fin_alexh]

Coherent Corp. (NYSE: COHR): BUY, $376 target (+20% vs. $312.62).

Customers have ordered its AI laser parts into 2028.

But the price assumes less long-run growth than we do.

Full report below.

#COHR #StayTuned https://t.co/SPlldft529

[Alex Huyberechts @fin_alexh]

Powell Industries (NASDAQ: $POWL): HOLD, $190 target (0% vs $189.53).
Backlog: $2.4bn, a third now in data centers; $634m net cash, no debt.
At 27.5x forward earnings, the price already discounts ~17% annual EPS growth.
Full report below.
#Industrials https://t.co/TP5acUtW6j

[Alex Huyberechts @fin_alexh]

Fabrinet (NYSE: FN): HOLD, $509 target (+23% from $414.36).
Revenue $4.64bn (+35.7% YoY), but FCF fell to $3m as capex jumped to 5.5% of revenue for new Thailand capacity.
$875m net cash, no debt, no dilution needed.
Full report below.
#Fabrinet #StayTuned https://t.co/alQi8fL1xl

[Alex Huyberechts @fin_alexh]

Stay Tuned: Okta, Inc. (NASDAQ: OKTA).
HOLD pending 26 Aug 2026, BUY on confirmation.
Probability-weighted target $216.55, +46.9% from the $147.43 close on 14 Aug 2026. https://t.co/DdF2DO1SI7

[Alex Huyberechts @fin_alexh]

Stay Tuned: AXT, Inc. (NASDAQ: AXTI). Initiating coverage. BUY.

Probability-weighted target $85.19, +41.0% from the $60.43 close on 31 July 2026.

Base $79 (+30%). Bull $154 (+155%). Bear $30 (-51%).

Q2 2026 revenue $47.6m (+76.8% QoQ), InP revenue $30.7m (+~8.5x YoY), first profitable quarter after six straight quarterly losses.

AXT is a scarce InP substrate supplier for AI optical transceivers. Capacity build targets ~$60m/qtr InP run-rate by end-2026, ~$130m/qtr by end-2027 (management say they're running ahead of schedule).

China MOFCOM export-permit risk already cut InP revenue once. Street's own average target, $91.60 (Finviz, 31 July), sits modestly above ours; the gap is mostly our 25% bear-case weight.

Full report below.

#AXT #AXTI #EquityResearch #StayTuned #Semiconductors #AI #TechInvesting

[Alex Huyberechts @fin_alexh]

https://t.co/M0VLcFUbha

[Alex Huyberechts @fin_alexh]

https://t.co/M0VLcFUbha

[Alex Huyberechts @fin_alexh]

Stay Tuned: SK Hynix Inc. (Nasdaq: SKHY | KRX: 000660). Initiating coverage. BUY, under review (pending the 29 July ADR-KRX conversion, not the thesis).

Probability-weighted target $539, +250% from the $154.03 close on 19 July 2026.

Base $525 (+241%). Bull $864 (+461%). Bear $175 (+14%).

FY2025A revenue +68.4% YoY, operating margin 48.6%, Q1 2026A revenue alone is already over half the trailing twelve months. SK Hynix is 1 of 2 credible HBM suppliers to Nvidia's AI accelerators.

The ADR trades ~24% above what the Seoul-listed shares imply, a gap tied to conversion opening on 29 July, separate from earnings.

Wall Street's own $233.89 average target was pulled on 19 July 2026 and spans a huge range; FY2027E EPS estimates alone vary by nearly 4x across analysts.

Full report below.

#SKHynix #SKHY #EquityResearch #StayTuned #Semiconductors #AI #TechInvesting

[Alex Huyberechts @fin_alexh]

https://t.co/Voas8Bl4np

[Alex Huyberechts @fin_alexh]

https://t.co/Voas8Bl4np

[Alex Huyberechts @fin_alexh]

Stay Tuned: Kulicke and Soffa (NASDAQ: KLIC). Initiating coverage. BUY. Probability-weighted target $142, +17% from the $121.33 close on 2 July 2026 after a 9.3% single-day drop.

Base $141 (+16%). Bull $222 (+83%). Bear $65 (-47%).

Q2 FY26 revenue +49.8% YoY, non-GAAP operating margin 19.1%. The AI-packaging growth engine, thermo-compression bonding, is capacity-constrained, not demand-constrained: management is targeting ~$400m of annualised revenue there by FY27, and we are modeling less than that.

The 9.3% pullback took the forward EV/EBITDA multiple from 24x to 21.4x, close to the semicap-equipment peer median of 20x, without any change to the business. Debt-free, ~$488m net cash.

The Street's consensus, roughly $100 to $106, was last refreshed 8 May 2026, before the Q2 beat, the raised guidance, and the pullback. It hasn't caught up yet, but it hasn't disagreed with the new numbers.

Full report below.

#KulickeAndSoffa #KLIC #EquityResearch #StayTuned #Semiconductors #AI #TechInvesting

[Alex Huyberechts @fin_alexh]

https://t.co/LeCkKPrs2x

[Alex Huyberechts @fin_alexh]

https://t.co/LeCkKPrs2x

[Alex Huyberechts @fin_alexh]

New on Stay Tuned: Reddit $RDDT, BUY, $253.62 target (+45%).
Market fears Google/#AI will gut its traffic, but the same wave makes its data scarce, and 80% of users barely monetised.
Intl ARPU ($2 vs $9.63) is the test.
DCF + EV/EBITDA → https://t.co/IEDHeFwt7C
#SocialMedia

[Alex Huyberechts @fin_alexh]

New on Stay Tuned: ServiceNow $NOW, BUY, $155.66 target (+52.4%).
A name #AI should make more valuable, sold off like an AI loser, down ~49% to ~6x sales, below even Wall Street's target.
$1.5bn AI ACV by 2026 is the test.
DCF + EV/EBITDA → https://t.co/1duSfJja4Q
#Software

[Alex Huyberechts @fin_alexh]

The market prices T. Rowe Price ($TROW) for permanent decline

Insiders disagree: net +117,964 shares bought in 12 months

Record AUM. ~$6.3B net cash. 40 straight years of dividend growth

BUY, 12-mo target $138, about +37% total return

Full report: https://t.co/LVLCNehuLJ

[Alex Huyberechts @fin_alexh]

New on Stay Tuned: $DELL BUY, Target $326 (+35%).

World's leading AI infrastructure company priced as a legacy PC vendor. $43B AI backlog.

Q1 FY27 earnings May 28 AMC is the catalyst.

Full EV/EBITDA + DCF → https://t.co/Z0mNr3b7Q4

#DELL #AI #Servers

[Alex Huyberechts @fin_alexh]

New on Stay Tuned: $EQT BUY, $69.27 (+15% from $60.08).

Only vertically integrated nat gas company in America. $1.83bn FCF in Q1.

Q2 earnings + H2 data centers (unmodelled) are the catalysts.

Full EV/EBITDA + DCF → https://t.co/dEpQ65D8bV

#EQT #NaturalGas #LNG

[Alex Huyberechts @fin_alexh]

New on Stay Tuned: $LDO BUY, EUR 68.8 (+19% from EUR 57.69).

Europe's most complete defence company. EUR 46.6bn backlog. Michelangelo dome = pure optionality.

Q1 May 6 is the first test.

Full SOTP + DCF → https://t.co/zGWqirGwI3

#LDO #DefenceInvesting #NATO #StayTuned

[Alex Huyberechts @fin_alexh]

Part 2 screens six small-cap defence names through the same five-step framework as Part 1: three fail, three pass. A US-Iran ceasefire dropped crude 17% as this went to press. The six names held up.
#Defence #Investing #EquityResearch #KRKNF #FEIM #AVAV https://t.co/WMyhC482N0

[Alex Huyberechts @fin_alexh]

The world is being forced to rearm. Part 1 builds the full investment case for GD & LHX (two large-cap defence names still below analyst consensus), plus why LMT & NOC are watchlist, not active pitches.
#Defence #Investing #EquityResearch #GD #LHX
https://t.co/Q7HHUitbP4

[Alex Huyberechts @fin_alexh]

The S&P 500 is more crowded than it looks. The new article screens for quality names flying under the radar across Energy, Healthcare & Industrials — with a full investment case for each.

#Equities #SP500 #Investing #StockPicking #EquityResearch
https://t.co/zaySJusigU

[Alex Huyberechts @fin_alexh]

Stay Tuned: Fed in Focus – July 2025 #FOMC Preview

This article explains why #PCE inflation matters, how #GDP and labour data influence recession risks, and outlines possible #Fed policy moves shaping commodities, equities, and forex markets.

#Powell
https://t.co/SMs1CFzWIB