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Fly News Breaks for February 7, 2018
MTSI
Feb 7, 2018 | 08:28 EDT
Needham analyst N. Quinn Bolton lowered his price target on Macom to $34 after Q1 earnings came in at the low end of prior guidance. Bolton says the NG product gross margins are expected to remain under pressure due to "faster-than-expected move to lower ASP products in both the Data Center and Telecom segment", but should bottom in Q2 as higher margin products ramp later in the year. The analyst keeps his Buy rating on Macom, saying the company's forecasts are likely to prove to be conservative with "several secular drivers on the horizon".
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