Yahoo Finance MACOM (MTSI) Q1 Earnings: What To Expect
Network chips maker MACOM Technology Solutions (NASDAQ: MTSI) will be reporting results tomorrow before market open. Here's what to look for.
MACOM beat analysts' revenue expectations by 2.9% last quarter, reporting revenues of $157.1 million, down 12.7% year on year. It was a mixed quarter for the company, with optimistic revenue guidance for the next quarter but a decline in its operating margin.
Is MACOM a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting MACOM's revenue to grow 6.8% year on year to $180.9 million, improving from the 2.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.59 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MACOM has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 1% on average.
Looking at MACOM's peers in the analog semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Instruments's revenues decreased 16.4% year on year, beating analysts' expectations by 1.4%, and Impinj reported a revenue decline of 10.6%, topping estimates by 4.4%. Texas Instruments traded up 5.7% following the results while Impinj was also up 28.8%.
Read our full analysis of Texas Instruments's results here and Impinj's results here.
Inflation fears have put pressure on growth stocks, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 2.4% on average over the last month. MACOM's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $98.4 (compared to the current share price of $98.73).
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