MRAAF News and Press, Murata Manufacturing Co Ltd From 11/22/21

My investment thesis in RF-Filter disruptor Akoustis has certainly not panned out. At least not so far. AKTS has been beaten down to under $7. That's below where it was a year ago - before a number of big contract wins prior to a well-timed stock sale. Indeed, as I reported in See...

Fisher’s 13F portfolio value increased from ~$159B to ~$161B in Q3 2021. Advanced Micro Devices, Facebook, and Lam Research were increased while reducing Visa this quarter. The top three positions are Apple, Microsoft, and Amazon. They add up to ~14% of the portfolio. ...

Murata Manufacturing has been making more positive M&A steps, recently closing the acquisition of Eta Wireless. Meanwhile, the August plant closure of the Fukui Murata Manufacturing operation should have a limited financial impact. Longer-term, the company remains well-positio...

Fisher’s 13F portfolio value increased from ~$142B to ~$159B in Q2 2021. The Vanguard Intermediate-Term Corporate Bond ETF stake was increased substantially this quarter. The top three positions are Apple, Microsoft, and Amazon. They add up to ~14% of the portfolio. F...

The following slide deck was published by Murata Manufacturing Co., Ltd. in conjunction with their 2021 Q2 earnings call. For further details see: Murata Manufacturing Co., Ltd. 2021 Q2 - Results - Earnings Call Presentation

In order to meet the growing demand for mobile data, carriers need to get their customers onto fatter pipes at higher frequencies. But these new bands come with many challenges. On the handset side, these problems are solved with RF filters. But the current generation is inefficient a...

Qorvo outperformed its peers over the last year due to expanding margins and good growth drivers. Qorvo expanded its IP portfolio for 5G and WiFi 6 and added important standard-essential patents to enjoy part of the anticipated 5G growth. Compared to the semiconductor industry, Qo...

Fisher’s 13F portfolio value increased from ~$133.5B to ~$142B in Q1 2021. They increased Walt Disney and Eli Lilly while trimming Taiwan Semi, JD.com, and Pinduoduo. Fisher has a number of small positions in several ETFs/ETNs. For further details see: Tracking Ke...

The following slide deck was published by Murata Manufacturing Co., Ltd. in conjunction with their 2020 Q4 earnings call. For further details see: Murata Manufacturing Co., Ltd. 2020 Q4 - Results - Earnings Call Presentation

Qorvo shares have performed strongly over the last two years. We have concerns over the sustainability of free cash flow generation and are sellers. Free cash flow margins have been high and will be difficult to maintain, given falling intangible amortization, and in the long run, rel...