$MACOM Technology Solutions (MTSI.US)$Excluded from the anal...

Listed in 2012, mainly engaged in the business of semiconductor solutions, with 48.3% of the market in the USA, and the current price is 87.05.

Over the past 5 years, revenue shrank in the first and last years, with growth in the middle 3 years, with an average growth rate of only 2.6%. Operating profit turned around in 2020 due to gross margin improvement, reaching a peak of 0.133 billion in 2022. It shrank by 19.1% in 2023. In 2022, net income reached 0.44 billion due to non-operating income and income tax subsidies, dropping to 0.092 billion in 2023. There was no interest expense in 2023. The gross margin rate increased from 44.2% to 60.2% in the past 5 years, dropping back to 59.5%. The return on net assets in 2023 was 10.2%.

In Q1 2024, the shrinking trend of the previous two quarters continued, with revenue shrinking by 12.8%, operating profit shrinking by 71.5%, and net income shrinking by 57.6%.

Currently, the pe ratio is 67.6, the TTM pe ratio is 83.2. Considering the continuous shrinking for three consecutive quarters and the beginning of the cyclical trend, the valuation attractiveness is not significant.