Update: PMC-Sierra Q3 Earnings Show Reignited Sales Growth Driven By Storage Segment
Martin Vlcek • Yesterday, 2:04 PM
- PMC-Sierra delivered strong Q3 earnings, beating on both revenue and EPS. The positive impact of the storage segment more than offset falling sales from the other three segments.
- The long thesis continues to work well and the stock is up ~17% in just over a year on strong growth of the data storage segment.
- I confirm my long thesis and maintain a $9 target price achievable within 24 months, offering a ~21% upside.