MACOM Technology Posts Q4 Revenue Miss, Guides Q1 Topline Below Consensus

Zinger Key Points
  • MACOM sees revenue of $149 million-$153 million vs. $155.22 million estimate.
  • MACOM generated $166.9 million in operating cash flow, with $174 million in cash.

MACOM Technology Solutions Holdings Inc MTSI reported a fourth-quarter (Q4) revenue decline of 15.6% Y/Y to $150.4 million, missing the analyst consensus of $150.8 million.

Adjusted gross margin contracted to 60.1% from 62.6% a year ago, while the adjusted operating margin fell to 24.7% from 32% the prior year.

Adjusted EPS of 56 cents in line with the consensus.

MACOM generated $166.9 million in operating cash flow and held $174 million in cash and equivalents.

Q1 Outlook: MACOM sees revenue of $149 million-$153 million vs. $155.22 million estimate. It sees an adjusted EPS of 55 cents to 59 cents vs. consensus of 59 cents.

"We believe focusing on the highest frequency, highest power and highest data rate applications will further strengthen our market position and results in fiscal year 2024," said CEO Stephen G. Daly.

Also Read: Why MACOM Technology Is A 'Buy': Analyst Upgrades MTSI With $92 Price Target Post-Wolfspeed Acquisition

Price Action: MTSI shares traded higher by 3.38% at $75.48 on the last check Thursday.

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