Analyst Quinn Bolton of Needham & Company reiterated a Buy rating for MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) with a price target of $49, marking a 30% increase from current levels. This came after MTSI had third quarter revenues that beat estimates. Revenue growth was “driven by share gains in lasers and growth in MMICs, which offset a decline in PON electronics.” Additionally, NG GM was reported below estimates and was guided below the analyst model for the next quarter. Nonetheless, Bolton believes that GM pressure “will prove temporary and [is] encouraged by both the top line performance and the diversity of business away from the PON market.”

According to TipRanks, Bolton has a success rate of 67% with an average return of 17.2% per recommendation.