Update: MACOM Shares Rise After Q3 Results Beat, Guidance

MT Newswires Live
Aug 07

(Updates with recent stock movement in headline and first paragraph.)

MACOM Technology Solutions (MTSI) shares were up over 13% in afternoon trading on Thursday following better-than-expected fiscal Q3 results and Q4 guidance.

Earlier, the company reported an adjusted earnings of $1.40 per diluted share, up from $0.90 a year earlier.

Analysts polled by FactSet expected $1.35.

Revenue for the quarter ended July 3 was $342.2 million, up from $252.1 million a year earlier.

Analysts expected $335.5 million.

The firm said it expects fiscal Q4 revenue of $415 million to $425 million and adjusted EPS of $1.97 to $2.03. Analysts expected $378.5 million and $1.67, respectively.

Price: 299.47, Change: +36.01, Percent Change: +13.67

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