Analysts have been eager to weigh in on the Technology sector with new ratings on Cisco Systems (NASDAQ: CSCO), M/A-Com Technology (NASDAQ: MTSI) and AT&T Inc (NYSE: T).
Cisco Systems (NASDAQ: CSCO)
In a report released today, Mitch Steves from RBC Capital reiterated a Buy rating on Cisco Systems (NASDAQ: CSCO), with a price target of $36. The company’s shares closed yesterday at $33.82, close to its 52-week high of $34.60.
According to TipRanks.com, Steves is a top 100 analyst with an average return of 28.0% and a 92.2% success rate. Steves covers the Technology sector, focusing on stocks such as Benchmark Electronics, Juniper Networks, and Sanmina-Sci Corp.
Currently, the analyst consensus on Cisco Systems is Strong Buy and the average price target is $37.33, representing a 10.4% upside.
In a report issued on May 4, Oppenheimer also reiterated a Buy rating on the stock with a $36 price target.
M/A-Com Technology (NASDAQ: MTSI)
Needham analyst Quinn Bolton reiterated a Buy rating on M/A-Com Technology (NASDAQ: MTSI) today and set a price target of $60. The company’s shares closed yesterday at $54, close to its 52-week high of $57.30.
Bolton commented:
“We attended MACOM’s Cloud Data Center Forum in New York yesterday. The forum confirmed the view we had formed at OFC, namely that MACOM is the best positioned analog and photonic component supplier for the ramp of 100G/400G datacom optical modules. MACOM enabled 1.0MM 100G NRZ transceivers in FY16 and is on track to enable 4.0MM in FY17. With the addition of 25G lasers, L- PICs and single-lambda 100G PAM-4 DSPs, MACOM is looking to increase dollar content per 100G module to ~$80 from $40 of HPA content today. MACOM’s Etched Facet Technology gives the company a significant cost advantage relative to incumbent InP laser manufacturers. Finally, the company’s 100G single lambda PAM-4 DSP remains on track to sample in C2H17.”
According to TipRanks.com, Bolton is a top 25 analyst with an average return of 23.3% and a 73.6% success rate. Bolton covers the Technology sector, focusing on stocks such as Sequans Communications S A, Integrated Device Tech, and Ikanos Communications.
Currently, the analyst consensus on M/A-Com Technology is Moderate Buy and the average price target is $63, representing a 16.7% upside.
In a report issued on May 16, Jefferies also reiterated a Buy rating on the stock with a $66 price target.
AT&T Inc (NYSE: T)
Oppenheimer analyst Timothy Horan reiterated a Hold rating on AT&T Inc (NYSE: T) today. The company’s shares closed yesterday at $37.46.
Horan said:
“We are updating and extending our T/TWX pro forma to 2022 and adding our notes from management meetings. The merger should be approved by November with relatively minimal conditions. TWX owns premium content, which given all the new distribution platforms is in demand with pricing power, hence their 6%E revenue growth. The deal is 9% accretive to T’s 2018E FCF per share, helped by the increased leverage, with lower taxes possibly adding upside. We expect pro forma FCF to reach $28.6B in 2022, with a dividend/FCF payout ratio of 56%, with stock buybacks the focus at that point, assuming 2022 debt/EBITDA of 1.9x vs. 3x in FY17E.”
According to TipRanks.com, Horan is a top 25 analyst with an average return of 12.0% and a 75.8% success rate. Horan covers the Technology sector, focusing on stocks such as Interxion Holding NV, Boingo Wireless Inc, and Riverbed Technology.
Currently, the analyst consensus on AT&T Inc is Moderate Buy and the average price target is $44.25, representing a 18.1% upside.
In a report issued on May 9, Tigress Financial also upgraded the stock to Hold.
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