MACOM Technology Solutions Holdings Inc. Down 1.68% To $67.38 After Earnings Beat
MACOM Technology Solutions Holdings Inc. (MTSI) said before open Thursday that it earned $0.81 per share in quarter one 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $180.1 million, beating estimates by $394 thousand.
In the same quarter a year ago, the company earned $0.64 per share on revenue of $159.6 million.
The stock is down 1.68% to $67.38 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned MACOM Technology Solutions Holdings Inc. a Bullish Sentiment Rank from InvestorsObserver.
MACOM Technology Solutions Holdings Inc. has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 82, putting MACOM Technology Solutions Holdings Inc. in the top 25% of stocks. The firm was recently trading at a 52-week high of $72.64 on November 15, 2022 and set a 52-week low on July 5, 2022 at $42.85.
MACOM Technology Solutions Holdings Inc is a provider of analog, digital and mixed-signal semiconductor solutions to original equipment manufacturers and distributors. These solutions are found in systems for industrial, medical, scientific, and test and measurement markets. The firm's portfolio of products includes integrated circuits, multichip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and complete subsystems. Roughly a third of the firm's revenue is generated in the United States, with the rest coming from China, Taiwan, and other countries across the world.
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