In a report released today, Quinn Bolton from Needham maintained a Buy rating on MACOM Technology Solutions Holdings Inc (MTSI), with a price target of $23. The company’s shares closed yesterday at $18.23.
Bolton wrote:
“MTSI’s F1Q19 revenues were lighter than expected while NG EPS was in-line. However, MTSI’s F2Q19 guidance was significantly below expectations due to uncertainties related to trade tensions that is exacerbating a period of seasonally low visibility ahead of Chinese New Year. Further, inventory digestion within the DC supply chain will dampen DC demand in C1H19. However, management remains confident in a C2H19 recovery as the transition to 100G CWDM4 and PAM4 inside the DC remains in early innings and the ramp of 5G infrastructure should drive demand for and HMIC switches and optical backhaul solutions. We lower our forward estimates and PT from $27 to $23 (EV of 3x our CY20 sales est.) and maintain our Buy rating.”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 13.5% and a 63.0% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Quantenna Communications, and Applied Materials Inc.
Currently, the analyst consensus on MACOM Technology Solutions Holdings Inc is a Hold with an average price target of $18.80.
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Based on MACOM Technology Solutions Holdings Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $16.49 million. In comparison, last year the company had a GAAP net loss of $22.57 million.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock.
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MACOM Technology Solutions Holdings, Inc. engages in the design, development, manufacture and market of semiconductors and modules. It products include integrated circuits (IC), multi-chip modules (MCM), power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and complete subsystems.
