Why Shares of MACOM Technology Solutions Crashed Today
Shares of analog semiconductor company MACOM Technology Solutions Holdings (NASDAQ: MTSI) tumbled on Wednesday after a disappointing third-quarter report. MACOM missed analysts' consensus estimates across the board, and it's fourth-quarter guidance was far from impressive. The stock was down 23% at 12:45 p.m.
MACOM reported Q3 revenue of $194.6 million, up 36.7% year over year but $1.35 million below analysts' average estimate. CEO John Croteau pointed to weakening carrier spending in China as a major headwind during the quarter.
A MACOM hybrid amplifier. Image source: MACOM.
Source: Fool.com
M/a-Com Technology Sol. Stock
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-0.640%
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