MACOM Technology Clocks 13% Revenue Growth In Q1; To Acquire Assets Of OMMIC SAS For €38.5M

Anusuya Lahiri
1 min read
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In this article:

  • MACOM Technology Solutions Holdings Inc (NASDAQ: MTSI) reported first-quarter FY23 revenue growth of 12.8% year-on-year to $180.1 million, beating the analyst consensus of $179.7 million.

  • Adjusted gross margin expanded by 120 bps to 62.6%, while the adjusted operating margin decreased by 80 bps to 29.9%.

  • Adjusted EPS of $0.81 beat the analyst consensus of $0.78.

  • MACOM generated $38.3 million in operating cash flow and held $594.7 million in cash and equivalents.

  • Q2 Outlook: MACOM sees revenue of $166 million - $170 million. It sees an adjusted EPS of $0.76- $0.80.

  • M&A: MACOM Technology Solutions Holding agreed to acquire the assets and operations of semiconductor manufacturer OMMIC SAS for €38.5 million.

  • MTSI CEO Stephen G. Daly said, "The acquisition of OMMIC is expected to enable us to further increase our focus on the European markets, expand our wafer production capability and extend our product offerings to higher millimeter-wave frequencies, which are all in line with our long-term strategy. We believe that combining OMMIC's technology and manufacturing capability with MACOM's scale and market presence will be a driver of long-term growth and profitability."

  • Price Action: MTSI shares traded lower by 4.25% at $65.61 on the last check Thursday.

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This article MACOM Technology Clocks 13% Revenue Growth In Q1; To Acquire Assets Of OMMIC SAS For €38.5M originally appeared on Benzinga.com

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