Semiconductor Equity Research Analyst
Position Summary
The Semiconductor Equity Research Analyst will provide in-depth investment analysis on global semiconductor companies across the value chain — from fabless chip designers and foundries to semiconductor equipment makers and Outsourced Semiconductor Assembly and Test providers. The role involves building proprietary valuation models, generating actionable stock ideas, and delivering differentiated research insights to institutional investors.
Key Responsibilities
Build and maintain DCF, DDM (dividend discount), and relative valuation models for semiconductor companies
Conduct industry supply-demand analysis (wafer capacity, utilization rates, inventory cycles)
Model capital expenditure cycles and their impact on free cash flow generation
Perform peer group benchmarking across fabless, foundry, and equipment sub-sectors
Publish initiating coverage reports, sector updates, and thematic deep dives
Present investment theses to institutional investors, fund managers, and hedge funds
Conduct management meetings/earnings call access and synthesize key takeaways
Partner with TMT sector colleagues for cross-sector analysis
Work with macro team to integrate semiconductor cycle into global growth views
Support ECM / DCM desks on semiconductor IPOs, secondary offerings, and convertible bond issuances
Provide synergy insights for M&A advisory in the semiconductor sector
Required Qualifications
Bachelor's or Master's degree in Electrical Engineering, Computer Engineering, Physics, Chemistry (for materials/equipment), Finance, or related disciplines
CFA Level II/III or candidates in progress is a plus
3-5 years of technology sector equity research analyst experience.
