Fly News Breaks for April 25, 2019
MTSI
Apr 25, 2019 | 08:43 EDT
Jefferies analyst Mark Lipacis last night downgraded Macom to Hold from Buy and lowered his price target for the shares to $15 from $18. Following the negative preannouncement, the stock will "mark-time" until the company addresses three issues with investors: cash flow, forecasting, and stewardship of shareholder cash, Lipacis tells investors in a research note. Further, the analyst thinks this will be difficult to do without a permanent CFO. Nevertheless, Macom fits the profile of attractive acquisition candidates, which likely creates some downside share support, says Lipacis.
News For MTSI From the Last 2 Days
MTSI
Apr 15, 2024 | 16:10 EDT
Evercore ISI initiated coverage of Macom with an Outperform rating and $120 price target. The company is a key supplier of specialty analog/RF chips that stands to benefit from industry consolidation and ongoing turnaround and margin expansion, the analyst tells investors in a research note, also citing Macom management team that has an "excellent history of execution". Macom is also well positioned for potential additional tailwinds related to Aerospace and Defense given military conflicts of late, the firm added.