M/A-COM Technology (MTSI) Price Target Raised to $40 at Barclays

Barclays maintained an Overweight rating on M/A-COM Technology Solutions (NASDAQ: MTSI) and raised its price target to $40.00 (from $34.00). Analyst Blayne Curtis noted share gains in optical and GaN potential.

"MTSI continues to deliver with the core business improving and continued share gains in optical, while recent capacity adds for BinOptics can potentially triple its revenue. Additionally, GaN on Silicon is progressing and is a potential game changer if they can deliver the targeted cost reductions," said Curtis.

"We expect the company to announce at least one 8” fab partner for this technology ahead of earnings and believe customer engagements have progressed to the point that we will see initial production shipments in early 2016. We remain OW and given increased confidence in the growth potential of the above, we raise our PT to $40," added the analyst.

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 $37.00 yesterday.

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