Stifel Defends MACOM Technology Solutions (MTSI)
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Stifel analyst Tore Svanberg came out to defend MACOM Technology Solutions (NASDAQ: MTSI), telling clients to buy today's weakness given that strong profitability drove NG EPS beat/raise on in-line Mar Q sales & Jun Q outlook.
Svanberg notes the stock is down ~7% intraday on overreaction to 3 reasons: (1) $5mn pushout due to capacity constraints (but can recapture in 2H CY21); (2) China 5G tenders delayed a few months (but Telecom can still see slight q/q gth. in Jun Q, underscoring diversification; and (3) a flattening of 100G run-rates (but expected on transition to 400G, w/ MTSI well-positioned w/ differentiated “combo” chips.
reiterated a Buy rating and $78.00 price target on
Shares of MACOM Technology Solutions closed at $61.63 yesterday.
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