Summary of Conference Call Notes on US Semiconductors Industry Overview - The analog semiconductor sector is experiencing a recovery, with estimates increasing by 2% for CY26 and CY27E [1][25] - Industrial and data center segments are leading the recovery, while the automotive sector is lagging [1] - Key indicators such as bookings, backlog, and lead times are showing positive trends across suppliers [1] - The macroeconomic environment for industrial sectors is improving, with US PMIs at 52.6 in January [1] Sales and Earnings Growth - Sales for analog semiconductors are projected to grow at a median CAGR of 10% from CY25 to CY28E, significantly higher than previous periods [2] - EPS is expected to grow at a CAGR of 32% for CY25-28E, driven by improved gross margins and operational discipline [2] - Notable growth leaders include MCHP and ADI, while automotive semiconductors are trailing with less than 10% CAGR [2] Company-Specific Insights NXP Semiconductors (NXPI) - NXPI is optimistic about channel replenishment and aims for ~$15.5 billion in sales for CY27, which is 4% above market expectations [3] - The company is focused on software-defined vehicles (SDV) and advanced driver-assistance systems (ADAS) [3][15] - NXPI has strong design-win visibility, particularly in core electronics and infotainment systems [15] Microchip Technology (MCHP) - MCHP is experiencing normalization in distribution sell-in/sell-through, although direct customer trends are softer [3] - The company is seeing growth in data center and aerospace & defense (A&D) sectors, which are contributing to long-term growth [3][20] - MCHP's growth is primarily content-based, with no significant production growth expected [20] Investment Recommendations - Top picks include ADI for large caps and MTSI for small to mid-caps due to their strong margins and growth potential [4] - NXPI is favored for its consistent execution and attractive valuation, while ON is rated neutral due to challenges in the EV/auto market [4] - TXN's acquisition of Silicon Laboratories (SLAB) is seen as a strategic move to enhance its wireless connectivity portfolio [7] Acquisition Insights - TXN announced the acquisition of SLAB for $7.5 billion, expected to close in 1H27 [7] - The deal is anticipated to generate over $450 million in cost synergies within three years [7][9] - TXN's internal utilization and growth in the embedded market are expected to improve post-acquisition [8] Financial Projections - TXN's pro forma financials suggest EPS accretion of 2.5% in CY27 and 5% in CY28, with potential for further gains from revenue synergies [9][10] - The overall industry is seeing a return to historical median valuations, with CY27 PEs aligning closer to historical averages [4] Additional Considerations - The semiconductor industry is witnessing consolidation, which may lead to improved operational efficiencies [7] - There are concerns regarding auto input cost inflation and its impact on gross margins, particularly for NXPI [13][15] - The competitive landscape in the automotive sector is evolving, with local vendors gaining traction in China [15] This summary encapsulates the key points from the conference call notes, highlighting the current state and future outlook of the semiconductor industry, along with specific insights into leading companies and investment opportunities.

Core Viewpoint - MACOM Technology (MTSI) is positioned as a high-performing RF semiconductor company, suggesting a strong market presence and potential for growth in the semiconductor industry [1]. Group 1 - The company is recognized for its quality, indicating that it may command a premium in the market [1].

Core Insights - MACOM Technology Solutions Holdings, Inc. (MTSI) reported first-quarter fiscal 2026 earnings of $1.02 per share, exceeding the Zacks Consensus Estimate of 99 cents per share, with a year-over-year growth of 29.1% [1] - The company has consistently beaten earnings estimates in the past four quarters, with an average surprise of 1.61% [1] Revenue Performance - MTSI posted revenues of $271.6 million in the first quarter of fiscal 2026, surpassing the Zacks Consensus Estimate by 1%, and reflecting a year-over-year increase of 24.5% [2] Operating Metrics - The adjusted gross margin for the first quarter of fiscal 2026 was 57.6%, slightly up from 57.5% in the prior-year quarter [3] - Adjusted operating income reached $73.97 million, an increase from $55.4 million in the year-ago period, representing 27.2% of revenues, up 180 basis points year-over-year [3] Operating Expenses - Non-GAAP operating expenses were $82.5 million, an 18% increase year over year, but as a percentage of revenues, they contracted 170 basis points to 30.4% [4] Balance Sheet and Cash Flow - As of January 2, 2026, cash equivalents and short-term investments totaled $768.5 million, down from $785.9 million in the prior quarter [5] - Long-term debt was reported at $339.91 million, slightly up from $339.63 million in the previous quarter [5] - Net cash flows from operating activities amounted to $42.93 million [5] Guidance for Q2 FY26 - For the second quarter of fiscal 2026, MTSI expects revenues between $281 million and $289 million, with the Zacks Consensus Estimate at $274.54 million, indicating a year-over-year growth of 16.4% [6] - The company anticipates adjusted earnings per share between $1.05 and $1.09, compared to the Zacks Consensus Estimate of $1.02 per share, suggesting a growth of 20% year over year [6] Market Position - MTSI currently holds a Zacks Rank 3 (Hold) [7] - Competitors such as Amphenol (APH), Broadcom (AVGO), and BILL Holdings, Inc. (BILL) are rated higher with a Zacks Rank 1 (Strong Buy) [7]

Daley said demand remains strong and that MACOM is adding manufacturing capacity to keep up with customer forecasts, adding that the company has indications demand could remain strong into calendar 2027. The CEO also said “turns” business was higher than recent quarters due to strong early-quarter bookings.Revenue grew sequentially in all three end markets and was up 24.5% year-over-year , driven by broad-based growth, according to Kober. By segment, MACOM reported:President and CEO Steve Daley said the com ...

Core Viewpoint - M/A-Com Technology Solutions Holdings, Inc. (NASDAQ:MTSI) is recognized for its strong performance in the semiconductor industry, particularly in the analog and mixed segment, with a recent stock upgrade to "Outperform" by Evercore ISI [1][6] Financial Performance - MTSI reported earnings of $1.02 per share for the first quarter, exceeding the Zacks Consensus Estimate of $0.99 and showing a significant increase from $0.79 per share in the same quarter last year, resulting in an earnings surprise of +2.69% [2] - The company's revenue for the quarter reached $271.61 million, surpassing the Zacks Consensus Estimate by 1% and marking a substantial increase from $218.12 million recorded in the previous year [3] - MTSI has consistently outperformed consensus EPS and revenue estimates over the past four quarters, indicating strong financial performance [3] Operational Efficiency - The gross margin improved to 55.9%, up from 53.7% in the previous year's first quarter, reflecting enhanced operational efficiency [4] - Income from operations rose significantly to $43.3 million, or 15.9% of revenue, compared to $17.5 million, or 8.0% of revenue, in the previous year [4] Stock Performance - MTSI's stock price is currently at $227.80, reflecting an increase of 5.94% or $12.77, with a market capitalization of approximately $17.09 billion [5] - The stock has fluctuated between $197.83 and $232.09 on the trading day, with a trading volume of 2,514,203 shares on the NASDAQ exchange [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35451 MACOM Technology Solutions Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 27-0306875 (State or other jurisdiction of incorporation or o ...

M/A-Com (MTSI) came out with quarterly earnings of $1.02 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +2.69%. A quarter ago, it was expected that this chipmaker would post earnings of $0.93 per share when it actually produced earnings of $0.94, delivering a surprise of +1.08%.Over the last four quarters, the company has su ...

MACOM Technology Solutions (NasdaqGS:MTSI) Q1 2026 Earnings call February 05, 2026 08:30 AM ET Company ParticipantsJohn Kober - CFOStephen Ferranti - SVP of Corporate Development and Head of Investor RelationsStephen G. Daly - President and CEOConference Call ParticipantsBlayne Curtis - AnalystChristopher Rolland - AnalystDavid Williams - AnalystHarsh Kumar - AnalystKarl Ackerman - AnalystQuinn Bolton - Senior Research AnalystSean O'Loughlin - Vice President and Equity Research AnalystTimothy Savageaux - An ...

MACOM Technology Solutions (NasdaqGS:MTSI) Q1 2026 Earnings call February 05, 2026 08:30 AM ET Company ParticipantsJohn Kober - CFOStephen Ferranti - SVP of Corporate Development and Head of Investor RelationsStephen G. Daly - President and CEOConference Call ParticipantsBlayne Curtis - AnalystChristopher Rolland - AnalystDavid Williams - AnalystHarsh Kumar - AnalystKarl Ackerman - AnalystQuinn Bolton - Senior Research AnalystTimothy Savageaux - AnalystTom O'Malley - AnalystVivek Arya - Senior Semiconductor ...

MACOM Technology Solutions (NasdaqGS:MTSI) Q1 2026 Earnings call February 05, 2026 08:30 AM ET Speaker6Welcome to MACOM's first fiscal quarter 2026 conference call. This call is being recorded today, Thursday, February 5th, 2026. At this time, all participants are in a listen-only mode. I will now turn the call to Mr. Steve Ferranti, MACOM's Senior Vice President of Corporate Development and Investor Relations. Mr. Ferranti, please go ahead.Speaker8Thank you, Olivier. Good morning and welcome to our call to ...