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UPDATE: Jefferies Cuts PT to $17 on M/A-COM Technology Solutions Holdings on Lower Guidance

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Jefferies reiterated its Buy rating on M/A-COM Technology Solutions Holdings (NASDAQ: MTSI) but reduced its price target from $21 to $17.

Jefferies commented, "MTSI beat SepQ EPS by $0.02 and guided DecQ revs 150bps below consensus at the mid-point. We cut our CY13 EPS by $0.06 and price target by $4, but remain buyers given: 1) better revenue performance relative to competitors, 2) robust new product pipeline of highermargin products should translate to higher growth and gross margin expansion of 400 bps through EOCY13.

M/A-COM Technology Solutions Holdings closed at $10.75 on Tuesday.

Latest Ratings for MTSI

DateFirmActionFromTo
Dec 2014JefferiesMaintainsBuy
Dec 2014BarclaysMaintainsOverweight
Dec 2014Stifel NicolausMaintainsBuy

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Posted-In: JefferiesAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

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