M/A-COM Technology Solutions (MTSI) PT Lowered to $14 at DA Davidson

DA Davidson analyst Mark Kelleher lowered the price target on M/A-COM Technology Solutions (NASDAQ: MTSI) to $14.00 (from $16.00) while maintaining a Neutral rating follownig the company's 2Q earnings report. Revenue and EPS in the quarter came in below original expectations, but were inline with revised guidance given. In line with management’s preannouncement, Data Center was the largest point of weakness, down 44% Y/Y, with the two other segments down sequentially as well, albeit smaller in magnitude.

Consistent with the numbers pre-released, Datacenter was the focal point of the weakness, falling from $43M to $24M. Management also indicated a lack of visibility in China as well as normal seasonality as other headwinds in the quarter.

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