Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of M/A-Com Technology
So what: M/A-Com missed its own estimates on the top line this quarter, but diluted EPS was in line with its projections. Analysts were more bullish, and the $77.1 million top line came in well below expectations of $81.9 million, with the company's $0.29 EPS just beneath the $0.30 analysts were looking for. M/A-Com CEO Charles Bland blamed the weak numbers on lower demand out of Asia and Europe.
Now what: M/A-Com expects to remain profitable, which is certainly worth considering in light of its already-low 7.2 P/E. Specialty components for aerospace and defense markets may not be as highly sought after now that global headwinds seem to be blowing stronger, but there's no reason to run from this stock today. In fact, it may be worth taking a closer look at this stock before this apparent overcorrection starts to reverse.
Want more news and updates? Add MA-Com to your watchlist now.