2024-04-01 10:30:00 ET
Summary
- MACOM Technology Solutions has seen stagnant sales and demanding valuation multiples, making it an unattractive investment.
- The company recently acquired the RF business from Wolfspeed, but the deal has not had a significant impact on earnings.
- Despite optimistic news releases, the company's results do not support the high valuation, leading to caution for potential investors.
When MACOM Technology Solutions ( MTSI ) acquired assets on the cheap from Wolfspeed ( WOLF ) in August of last year, I believed that the transaction looked cheap, given a non-demanding sales multiple and the fact that Wolfspeed was a willing seller....
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MACOM Technology Solutions: Not Walking The Walk