Update: PMC-Sierra Reports Flat Revenues And EPS But Beats Estimates And Guides For A Strong Q3
Martin Vlcek • Sun, Aug. 3
- Revenues and earnings beat estimates, with sales flat and GAAP loss at $0.02 per share, Non-GAAP EPS of $0.09 per share. Q3 guidance was strong.
- The thesis has been working well, with several new strong product launches as expected and improved financials. The stock has been volatile, in-line with other small-cap semiconductors.
- I reiterate my long thesis and maintain a $9 target price achievable within 24 months, offering a ~30% upside.