|Over a week ago|
Fly Intel: Top five analyst upgrades » 09:5203/2603/26/21
BTI, MO, NKE, RH, MTSI, PLMR
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Outperform from Neutral at Baird with analyst Jonathan Komp saying recent concerns around the supply chain and China are likely to prove temporary, and he believes current share levels provide a "more compelling entry along with a favorable risk/reward" when looking over the next two years. 2. British American Tobacco (BTI) and Altria Group (MO) upgraded to Buy from Hold at Jefferies. 3. RH (RH) upgraded to Hold from Underperform at Jefferies with analyst Jonathan Matuszewski stating after the company's "strong finish" to 2020 and "remarkable start" to Q1 that his prior call "was wrong." 4. Macom (MTSI) upgraded to Neutral from Underweight at JPMorgan with analyst Harlan Sur citing valuation. 5. Palomar (PLMR) upgraded to Overweight from Equal Weight at Barclays with analyst Tracy Benguigui saying the recent selloff in the shares is unjustified. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Macom upgraded to Neutral on valuation at JPMorgan » 06:1903/2603/26/21
JPMorgan analyst Harlan…
JPMorgan analyst Harlan Sur upgraded Macom Technology Solutions to Neutral from Underweight with a price target of $62, up from $52. The analyst cites valuation for the upgrade following the stock's underperformance. The share price is now within 5% of the analyst's "Street low" price target. Sur also increased estimates on a stronger second half of 2021 and 2022 outlook as 5G infrastructure spending starts to reaccelerate.
Macom upgraded to Neutral from Underweight at JPMorgan » 04:4703/2603/26/21
JPMorgan analyst Harlan…
JPMorgan analyst Harlan Sur upgraded Macom Technology Solutions to Neutral from Underweight with a $62 price target.
Macom prices $400M convertible senior note offering » 09:2603/2303/23/21
MACOM announced the…
MACOM announced the pricing of its $400.0M aggregate principal amount of 0.250% convertible senior notes due 2026. The Notes have an initial conversion rate of 12.1767 shares of MACOM's common stock per $1,000 principal amount of Notes, representing an approximately 40% conversion premium based on the last reported sale price of MACOM common stock of $58.66 per share on March 22, 2021.
Macom weakness on notes offering a buying opportunity, says Benchmark » 07:1703/2303/23/21
After Macom announced a…
After Macom announced a proposed offering of $400M of convertible senior notes and separately announced that the company would use $100M of available cash to pay down a portion of outstanding term loans, Benchmark analyst Ruben Roy said he views the convert positively as the company is able to swap some of its floating rate term loans with a 2024 maturity to a low-rate fixed convert. He continues to view Macom as "an attractively valued turn-around story" and sees the weakness on the notes offering as a buying opportunity, said Roy, who has a Buy rating and $72 price target on the shares.
Macom announces $100M repayment of outstanding term loans » 07:0003/2203/22/21
MACOM Technology Solutions Holdings announced that it will be utilizing $100M of its available cash and cash equivalents and short-term investments to paydown a portion of its outstanding term loans. The term loans are secured and have an original maturity date of May 2024. "Reduction of debt and interest expense is a priority," stated Stephen G. Daly, President and CEO. "Our strategy is to strengthen our product portfolio while improving profitability."
|Over a month ago|
Macom price target raised to $61 from $45 at Northland » 08:1702/0102/01/21
Northland analyst Tim…
Northland analyst Tim Savageaux raised the firm's price target on Macom to $61 from $45 and keeps an Outperform rating on the shares, telling investors that the company's "solid" Q1 results highlight both its end market diversification and continued steady gross margin improvements. He expects continued strong execution and sees potential for growth to accelerate in FY22 driven by new products, Savageaux added.
Macom price target raised to $65 from $50 at Needham » 07:5801/2901/29/21
Needham analyst N. Quinn…
Needham analyst N. Quinn Bolton raised the firm's price target on Macom to $65 from $50 and keeps a Buy rating on the shares. The company's Q1 results were "solid" and its Q2 guidance was "strong" with continued margin expansion anticipated throughout FY21, the analyst tells investors in a research note. Bolton adds that as the new management team improves execution and strategically targets growth opportunities, he expects the discount between Macom's valuation multiple and that of its peer group average will narrow.
Macom upgraded to Overweight from Equal Weight at Barclays » 12:2101/2801/28/21
Barclays analyst Thomas…
Barclays analyst Thomas O'Malley upgraded Macom to Overweight from Equal Weight.
Macom sees Q2 EPS 46c-50c, consensus 38c » 07:3501/2801/28/21
For the fiscal second…
For the fiscal second quarter ending April 2, 2021, MACOM expects revenue to be in the range of $148 million to $152 million. Adjusted gross margin is expected to be between 57% and 59%, and adjusted earnings per share is expected to be between $0.46 and $0.50 on an anticipated 70.2 million fully diluted shares outstanding. Consensus for Q2 revenue is $145.33M.