(Senior) Equity Research Analyst - Semiconductors (m/f/d)

BIT Capital; Berlin; Vor Ort; EUR 70.000 - 110.000; Vollzeit

Zusammenfassung

Qualifikationen

• Deep understanding of semiconductor industry at technical and business levels.
• Experience researching investments in relevant sectors (buy-side or research-heavy).
• Ability to write differentiated, defendable investment theses.

Aufgaben

• Run bottom-up fundamental research on semiconductor companies worldwide: chipmakers, equipment, materials, memory, and the hardware stack.
• Develop and defend high-conviction investment ideas and pitches.
• Combine standard analysis with alternative data and ML/AI approaches in research.
• Build and explain financial models using Volume x Price x Mix x Margin logic.
• Cultivate relationships with sector experts and management teams to source conviction.

Kenntnisse

Semiconductors

Python/SQL

Investment research

Technical academic background

Ausbildung

Engineering / Computer Science / Physics / Mathematics

Jobbeschreibung

Across our funds, we hold meaningful exposure to the hardware backbone of the AI buildout: the chips powering data centers and edge devices. As our (Senior) Equity Research Analyst - Semiconductors (m/f/d), you own that coverage and contribute original theses to a concentrated, high-conviction portfolio, extending our reach in pure-play names before consensus catches up. The scope centers on semiconductors but grows with your insights into adjacent areas: AI compute infrastructure, networking and optical connectivity. You report to Ingo Lupatelli, our Portfolio Manager and Director of Research, and work autonomously from Day 1.

Your priorities will include:

• Coverage & research. Run bottom-up fundamental research on semiconductor companies worldwide: chipmakers, equipment, materials, memory, and the hardware stack around them.
• Asymmetric returns. Surface ideas before consensus, then research, pitch, and defend concentrated, high-conviction positions, carried through to a decision and measured by the alpha they generate.
• Quantamental innovation. Combine fundamental judgment with our proprietary alternative data and, alongside our quant team, advanced ML and AI to build actionable models.
• Financial modeling. Decompose business models from first principles (Volume x Price x Mix x Margin) and build valuations tailored to each sub-sector's economics.
• Networks & conviction. Cultivate relationships with sector experts and management teams, and convert conviction into sized positions.

The experience you bring

• You understand the semiconductor industry at both a technical and a business level; adjacent coverage of batteries or consumer devices is a plus.
• You have 2+ years researching investments in a relevant sector, ideally semiconductors, on the buy-side or in a research-heavy environment (equity research, private equity, or investment banking).
• You have a track record of differentiated investment writing: a contrarian view you sized and defended under pushback, ideally a thesis you can point to.
• You are comfortable with alternative datasets and basic data tools (Python or SQL); fluency with semiconductor cycles or Asian and Chinese names is a bonus.
• You hold a strong academic record in a technical field such as Engineering, Computer Science, Physics, or Mathematics.

2 reasons why you should not apply

• You prefer to conduct public equity research at a steady, deliberate pace. We move fast, with daily idea flow, thesis check-ins, and deep dives when the data moves, so you form and revise views quickly.
• You like to wait for full consensus before acting. We size positions on conviction and real insight, not crowd validation.
• You are passionate about technology, public-market investing, and the businesses behind the products.
• You operate by first principles: you decompose a thesis into its drivers, rebuild it from observable inputs, and treat being proven wrong by data as learning, not defeat.
• You are an "AI Native" who makes AI and quantitative tools standard infrastructure in your research.
• You are intellectually rigorous: you stress-test assumptions and seek disconfirming evidence to form an independent view.
• You are self-driven and entrepreneurial, in it for the long term, where logical argument outweighs hierarchy.

About us

BIT Capital combines the expertise of an industry leader in asset management with the agility of a young tech company. With its investment products, BIT Capital enables investors to participate in the future growth of the technology-driven world. The guiding principle is always to be “Ahead of the Curve" - anticipating technology mega trends and identifying the major investment opportunities of the future before they emerge. The BIT Capital team expertly navigates a constantly evolving landscape of complex technology sectors, identifying tomorrow's technology leaders at an early stage on behalf of its investors. The experienced team currently consists of around 40 professionals, including an investment team of 20 financial market experts, sector specialists, data engineers and software developers. The flagship fund, BIT Global Technology Leaders, has received multiple performance awards and is one of the highest performing equity funds in Europe.

As part of our recruitment process, we use digital tools that incorporate AI-supported functionalities to structure and review application materials and to support the selection process. The results are used solely as support for the initial screening and are always reviewed by responsible personnel. Decisions regarding an offer of employment or a rejection are not made solely by automated means.