Needham analyst Quinn Bolton maintained a Buy rating on MACOM Technology Solutions Holdings Inc (MTSI) today and set a price target of $27. The company’s shares closed yesterday at $15.14, close to its 52-week low of $13.07.
Bolton said:
“MTSI reported in-line F4Q18 results and F1Q19 guidance. DC product revenue was driven by strength in analog PMD solutions for CWDM-4 modules and 25G lasers for its new white-box transceiver business. Telecom revenue grew Q/Q driven by a resumption in Metro/LH port growth and continuing global deployments in PON and backhaul. Continued strength in Ind&D led to 8% Q/Q growth. While acknowledging recent industry softness, MTSI remains upbeat about its longer- term growth opportunities in Data Center (with its Data Center Solutions business model, 25G lasers and PAM4 solutions), 5G (GaN-on-Si PAs) and new/upgraded radar programs. We maintain our Buy rating, but lower our PT to $27 (EV of 3.0x our CY20 sales est.) to reflect more conservative semiconductor valuation multiples.”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 13.1% and a 61.4% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Quantenna Communications, and Integrated Device Tech.
MACOM Technology Solutions Holdings Inc has an analyst consensus of Hold, with a price target consensus of $21.67.
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Based on MACOM Technology Solutions Holdings Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $85.43 million. In comparison, last year the company had a GAAP net loss of $10.7 million.
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MACOM Technology Solutions Holdings, Inc. engages in the provision of semiconductor solutions that enable internet applications, cloud connected apps economy, and modern, networked battlefield. Its products include radio frequency power products, optoelectronics, photonic solutions, optical sub-assemblies, amplifiers, diodes, crosspoints, and signal conditioners. The company was founded on March 25, 2009 and is headquartered in Lowell, MA.
