For the quarter ended June 2024, M/A-Com (MTSI) reported revenue of $190.49 million, up 28.3% over the same period last year. EPS came in at $0.66, compared to $0.54 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $190.16 million, representing a surprise of +0.17%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.66. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they co ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $190.5 million, representing a 5.1% sequential increase driven by growth in Data Center and Telecom end markets [22] - Adjusted EPS for Q3 was $0.66, up from $0.59 in Q2 2024 [24] - Adjusted gross profit was $109.5 million, or 57.5% of revenue, an increase of 40 basis points sequentially [22] - Free cash flow generated during the quarter exceeded $40 million, with cash and short-term investments totaling approximately $521 million at quarter-end [4][27] Business Line Data and Key Metrics Changes - Revenue performance by end market: Industrial and Defense (I&D) at $90.9 million, Telecom at $50.6 million, and Data Center at $49 million [6] - Data Center revenue increased by 13.6% sequentially, Telecom by 7.1%, while I&D remained flat [6] - The book-to-bill ratio was 1.1:1, indicating improved booking trends for the third consecutive quarter [5] Market Data and Key Metrics Changes - U.S. domestic customers accounted for approximately 46% of Q3 revenue, up from 44% in Q2 [22] - The Data Center market is experiencing significant growth opportunities due to the industry's shift to higher data rates and increased interconnect requirements [12][15] Company Strategy and Development Direction - The company aims to build a unique, best-in-class, and diversified semiconductor portfolio to capture a larger market share [21] - Focus areas include market positioning, advanced technology development, and differentiation from competitors [21] - The company is actively pursuing CHIPS Act funding for its wafer fabs in Massachusetts and North Carolina, as well as European funding for its semiconductor center in France [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the Data Center business, projecting low to mid-teens growth in Q4, with overall revenue guidance for Q4 between $197 million and $203 million [28] - The company anticipates continued strength in the I&D market and stable revenues in Telecom, with a focus on gaining market share in 5G applications [11][28] Other Important Information - The company completed a strategic update to its 5-year plan, emphasizing the importance of long-term planning in the semiconductor industry [21] - The company is seeing increased demand for its products in satellite communications, which is expected to drive future growth [12][44] Q&A Session Summary Question: Qualification process for active copper cables - The qualification process varies by customer and application, with some customers ramping up products while others are just starting to design with them [29] Question: Market share gains in 5G - The 5G RF power opportunity is significant, with potential to double RF power revenue over the next 3 to 5 years, particularly in macro base stations and massive MIMO platforms [30][31] Question: Growth opportunities in Telecom - The acquisition of Wolfspeed has allowed the company to gain scale and more opportunities in the Telecom space, with expectations for next-generation GaN processes to enhance competitiveness [34] Question: Data Center business mix between AI and non-AI - The company does not publicly segment revenue by application but is seeing increased interest in both traditional Ethernet and higher data rate products [38] Question: Book-to-bill ratio and market recovery - Data Center bookings were the strongest, followed by I&D, while Telecom remained weak, with some activity in the SatCom industry [40] Question: Satellite communications opportunities - The company is actively engaged with customers in the satellite space, looking to supply at various levels from chip to module [42][44] Question: Silicon photonics business outlook - The company has deemphasized silicon photonics in favor of focusing on high-value applications, primarily in defense [53] Question: Customer ordering patterns and demand trends - Demand varies by market, with some areas experiencing limited demand while others, particularly in defense, are busy with new programs [56]

M/A-Com (MTSI) came out with quarterly earnings of $0.66 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this chipmaker would post earnings of $0.58 per share when it actually produced earnings of $0.59, delivering a surprise of 1.72%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. M/A-Com, which belongs to the Zac ...

Have you looked into how M/A-Com (MTSI) performed internationally during the quarter ending March 2024? Considering the widespread global presence of this chipmaker, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and growth path. It has become essential for investors to comp ...

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 For the quarterly period ended March 29, 2024 or 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 organization) (I.R.S. Employer Identification No.) 100 Chelmsford Street Lowell, ...

Financial Data and Key Metrics Changes - Revenue for Q2 was $181.2 million, up 15.3% sequentially, driven by growth in Industrial & Defense and Telecom end markets [21][66] - Adjusted EPS was $0.59 per diluted share, compared to $0.58 in fiscal Q1 2024 [41] - Adjusted gross profit was $103.5 million, or 57.1% of revenue, down from 59.2% in fiscal Q1 2024 [37] - Adjusted operating income was $40.2 million, up from $38.6 million in fiscal Q1 2024, with an adjusted operating margin of 22.2% [39] Business Line Data and Key Metrics Changes - Revenue by end market: Industrial and Defense at $90.9 million, Telecom at $47.2 million, and Data Center at $43.1 million [22] - Data Center revenue decreased by 12.9% sequentially, while Industrial and Defense increased by 18% and Telecom increased by 54.1% sequentially [22] - The Industrial and Defense market remains the largest and is steadily growing, with robust Defense orders but weak Industrial orders [23] Market Data and Key Metrics Changes - U.S.-based customers represented approximately 44% of fiscal Q2 revenue, flat sequentially [37] - The data center market is experiencing significant growth opportunities, particularly for 100G, 400G, and 800G optical connectivity solutions [10] - The telecom market is showing improvements, particularly in SATCOM and Metro/Long-haul segments, despite overall macro weakness [58][94] Company Strategy and Development Direction - The company aims to diversify and expand its geographic and industry exposure, focusing on high-performance IC components for Defense and data center markets [6][10] - MACOM is pursuing opportunities in 5G and adjacent applications, such as distributed antenna systems [13][14] - The company is actively engaged in securing federal funding through the CHIPS and Science Act for foundry modernization and expansion projects [16][62] Management's Comments on Operating Environment and Future Outlook - Management remains cautious about certain telecom market segments but sees numerous opportunities for growth as data speeds increase globally [14][30] - The company expects revenue in fiscal Q3 to be up sequentially across all markets, with data center leading with low double-digit growth [46] - Management anticipates modest sequential improvements in revenue and operating profit for the remainder of fiscal 2024, with long-term expectations for gross margins to trend back towards 60% [46] Other Important Information - The company was awarded a multiyear contract valued at up to $11.4 million for advancing GaN technology [17] - MACOM's cash and short-term investments totaled approximately $476 million, exceeding the book value of its convertible note debt [21][45] - Inventory levels increased to $177.8 million, driven by the acquired RF business, with inventory turns improving to 1.8 times [43] Q&A Session Summary Question: Progress on RF acquisition and gross margin improvement - Management reported outstanding customer engagements and collaboration between RF teams, with ongoing efforts to improve gross margins [48][49] Question: Telecom vs. Data Center growth expectations - Management acknowledged strong performance in the data center market but maintained that telecom is expected to outgrow data center in the long term [102] Question: Contribution from the RF acquisition - The RF business contributed approximately $30 million in Q2, aligning with expectations [129] Question: Volatility in the data center business - Management confirmed that the data center market is volatile, with growth driven by ISP orders and transitions to higher data rates [97][119] Question: Future opportunities in the ACC market - Management sees significant potential in the ACC market, emphasizing the importance of technology leadership and competition [135]

M/A-Com (MTSI) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.58 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 1.72%. A quarter ago, it was expected that this chipmaker would post earnings of $0.57 per share when it actually produced earnings of $0.58, delivering a surprise of 1.75%.Over the last four quarters, the company has surp ...

MACOM Reports Fiscal Second Quarter 2024 Financial Results LOWELL, MA, May 2, 2024 – MACOM Technology Solutions Holdings, Inc. ("MACOM") (Nasdaq: MTSI), a leading supplier of semiconductor products, today announced its financial results for its fiscal second quarter ended March 29, 2024. Second Quarter Fiscal Year 2024 GAAP Results Second Quarter Fiscal Year 2024 Adjusted Non-GAAP Results Management Commentary "Our engineering, sales, operations, quality and administrative teams are doing an excellent job s ...

Financial Data and Key Metrics Changes - Revenue for Q1 was $157.1 million, up 4.5% sequentially, including approximately $6 million from the RF business acquisition [18][31] - Adjusted gross profit for fiscal Q1 was $93.1 million or 59.2% of revenue, compared to 60.1% in fiscal Q4, due to the RF business acquisition [41] - Adjusted operating income in fiscal Q1 was $38.6 million, up from $37.2 million in fiscal Q4, with an adjusted operating margin of 24.5% [42] - Adjusted earnings per fully diluted share was $0.58, compared to $0.56 in fiscal Q4 [43] Business Line Data and Key Metrics Changes - Industrial and Defense (I&D) revenue was $77 million, down 3% sequentially, while Data Center revenue was $49.5 million, up 22% sequentially, and Telecom revenue was $30.6 million, flat sequentially [10] - The Data Center end-market continues to see strong demand for 100G, 400G, and 800G optical connectivity solutions, with expectations of reduced shipments in Q2 [11][12] - Telecom revenues were down approximately 50% compared to the same quarter last year, with broad-based demand weakness across major sub-segments [34] Market Data and Key Metrics Changes - Revenue from US customers represented approximately 44% of fiscal Q1 results [41] - The RF GaN market is estimated to be a $2 billion serviceable available market (SAM), expected to grow to approximately $3 billion by 2027 [38] Company Strategy and Development Direction - The company is focused on expanding its product lines, including new technologies like KV caps BAW filters and high-frequency GaN, to enhance competitiveness [5] - The acquisition of Wolfspeed's RF business is seen as a strategic move to expand the product portfolio and improve profitability [15][16] - The company aims to improve operational efficiencies and profitability within the RF business over the next 12 to 18 months [39] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding ongoing weakness in the telecom and industrial markets throughout 2024, but believes modest growth in base revenues and profits is achievable in the second half of FY 2024 [24][32] - The company anticipates I&D and Telecom revenues to increase sequentially by approximately 20% and 50%, respectively, in Q2, while Data Center revenues are expected to decline by 15% [24] Other Important Information - The company ended the quarter with approximately $463 million in cash and short-term investments [31] - Capital expenditures totaled $4.7 million for fiscal Q1, with expectations of $30 million to $35 million for the full fiscal year [22] Q&A Session Summary Question: What are the expectations for the RF business acquisition? - Management indicated that the RF business is expected to contribute modestly to earnings in Q2, with significant synergies identified post-acquisition [16][54] Question: How does the company view the telecom market? - Management noted that while the telecom market remains weak, there are positive trends in metro long-haul and SATCOM, and they are optimistic about gaining market share in the 5G space [110] Question: What is the outlook for the Data Center business? - Management acknowledged a dip in Data Center revenues but emphasized strong long-term trends and demand for higher data rates, expecting a recovery in the back half of FY 2024 [72][106]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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. FORM 10-Q (Mark One) (Exact name of registrant as specified in its charter) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 29, 2023 Delaware 27-0306875 ( ...