Jefferies Cuts Price Target on M/A-Com Technology Solutions (MTSI) Following Mixed 4Q

November 16, 2016 8:28 AM EST
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Price: $50.37 -5.36%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Jefferies maintained a Buy rating on M/A-COM Technology Solutions (NASDAQ: MTSI), and cut the price target to $49.00 (from $50.00), following the company's 4Q earnings report. Revenues of $153M were above consensus of $150M. However, EPS missed estimates by 2c due to fiscal year-end incentives associated with higher profits.

Analyst Mark Lipacis commented, "MTSI's SepQ rev/GM beat consensus but EPS missed by 2c due to fiscal yearend incentives associated w/ higher profits. DecQ rev outlook is 130bps above consensus but EPS is 2c below due to lower GM and higher intXP. MTSI continues to have high visibility in A&D growth from MMICs, and we think its secular opportunities (100G, GaN, SPAR) remain intact. MTSI is our top small cap pick."

For an analyst ratings summary and ratings history on M/A-COM Technology Solutions click here. For more ratings news on M/A-COM Technology Solutions click here.

Shares of M/A-COM Technology Solutions closed at $41.51 yesterday.

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