MACOM Technology Solutions Holdings Inc. (MTSI) said before Thursday’s open that it earned $0.81 per share in the quarter of 2023. The company reports earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or the previous one. times.
In the income line, the company reported $ 180.1 million, beating the estimate of $ 394 thousand.
In the same quarter a year ago, the company earned $0.64 per share on revenue of $159.6 million.
The stock fell 1.68% to $67.38 after the report.
The lower growth of the company’s revenue to revenues signals that the company has been able to reduce costs and improve its overall profit margin.
Wall Street Analysts had an average Buy rating on the stock before the report.
Trading in the five days leading up to the report earned MACOM Technology Solutions Holdings Inc. and Bullish Sentiment Rank from InvestorsObserver.
MACOM Technology Solutions Holdings Inc. has been a strong performer over the past few months, earning a high Long-Term Technical Rank by InvestorsObserver at 82, placed MACOM Technology Solutions Holdings Inc. in the top 25% of stocks. The company recently traded 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 the industrial, medical, scientific, and test and measurement markets. The company’s product portfolio includes integrated circuits, multichip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and complete subsystems. Approximately one-third of the company’s revenue is earned in the United States, with the remainder coming from China, Taiwan, and other countries around the world.
