Needham & Company Downgrades M/A-COM Technology Solutions (MTSI) to Hold

Needham & Company downgraded M/A-COM Technology Solutions (NASDAQ: MTSI) from Buy to Hold.

Analyst N. Quinn Bolton commented, "We note MTSI shares are up 89% YTD in 2014, vs. 30.3% for the SOX Index and 15.1% for the NASDAQ Composite, and are trading above our prior price target of $28. Though we are increasing our FY15 and FY16 estimates to reflect the recent BinOptics acquisition, applying our prior valuation methodology of 15x CY16E NG EPS yields a share price target near MTSI's current price. Accordingly, we are downgrading the shares to Hold from Buy and removing our 12-month PT."

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 $32.17 yesterday.

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