Jefferies on M/A-COM Technology (MTSI)
Jefferies maintained a Buy rating on M/A-COM Technology Solutions (NASDAQ: MTSI) but trimmed its price target to $17.00 (from $21.00).
Analysts said they remain buyers of MTSI given better revenue performance relative to competitors and a robust new product pipeline of higher-margin products which should translate to higher growth and gross margin expansion through 2013.
"Our price target of $17 is based on Fwd P/E multiple of 15x for our CY13 EPS estimate of $1.12, in line with MTSI's current Fwd P/E. Downside risk to our price target is slowdown in spending in Telco and data center infrastructure, Automotive and industrials, and Aerospace and Defense due to macroeconomic slowdown," said analyst Mark Lipacis.
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 $10.75 yesterday, with a 52 week range of $10.16-$22.43.
Analysts said they remain buyers of MTSI given better revenue performance relative to competitors and a robust new product pipeline of higher-margin products which should translate to higher growth and gross margin expansion through 2013.
"Our price target of $17 is based on Fwd P/E multiple of 15x for our CY13 EPS estimate of $1.12, in line with MTSI's current Fwd P/E. Downside risk to our price target is slowdown in spending in Telco and data center infrastructure, Automotive and industrials, and Aerospace and Defense due to macroeconomic slowdown," said analyst Mark Lipacis.
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 $10.75 yesterday, with a 52 week range of $10.16-$22.43.