Barclays Maintains an 'Overweight' on M/A-COM Technology Solutions (MTSI); Hit By Pause in Wireless; Thesis Remains Intact

Barclays maintains an 'Overweight' on M/A-COM Technology Solutions (NASDAQ: MTSI) price target lowered from $27 to $25.

Analyst, Blayne Curtis, said, "M/A-COM delivered inline CQ1 results but guided CQ2 slightly below due to continued weakness in wireless infrastructure. This softness is consistent with what its peers are seeing and M/A-COM does see its Networking business starting to rebound in the June quarter."

Curtis lowers FY12 EPS estimate from $1.32 to $1.21 and FY13 from $1.68 to $1.55, but feels MTSI's story is solid beyond the near-term pause, new product ramps should help bolster things in the second half of 2012.

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 $20.01 yesterday.

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