Why MACOM (MTSI) Stock Is Up Today

What Happened? Shares of network chips maker MACOM Technology Solutions (NASDAQ: MTSI) jumped 6.6% in the morning session after the company reported solid financial results for its third quarter and provided an optimistic forecast for the upcoming quarter. MACOM announced revenue of $261.2 million, a 30.1% increase year on year, meeting analyst expectations. The company's adjusted earnings per share of $0.94 also surpassed Wall Street's estimates. Looking ahead, the semiconductor supplier issued strong g ...