M/A-Com Technology (MTSI) Stock Could Climb to $21

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Yesterday M/A-Com Technology (NASDAQ: MTSI) reported Q1 EPS of $0.20, $0.01 worse than the analyst estimate of $0.21 on slight better than expected revenue of $75 million. M/A-Com Technology also guided revenue and EPS slightly ahead of consensus.

Commenting on the news, analyst Mark Lipacis of Jefferies said, "We remain buyers of the stock due to a robust new product pipeline of higher-margin products which should translate to higher growth and gross margin expansion."

Lipacis also said he thinks a bottom is in place and sees the stock climbing higher to $21 per share. The new price target is $4 above the previous price target.

Jefferies has a Buy rating on M/A-Com Technology.

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

Shares of M/A-COM Technology Solutions closed at $16.53 yesterday, with a 52 week range of $10.01-$22.43.

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