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Fly News Breaks for September 9, 2019
MTSI
Sep 9, 2019 | 06:07 EDT
After hosting investor meetings with management, Piper Jaffray analyst Harsh Kumar believes Macom remains "incredibly focused" on profitability and cash flows. The analyst is confident in management's abilities to meet its initial $50M cost cuts, along with the opportunity for additional efficiencies in the future. He continues to view Street estimates as beatable and believes Macom is currently one of the best turnaround stories in the semiconductor landscape. Kumar reiterates an Overweight rating on the shares with a $23 price target.
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