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Update: MACOM Shares Rise After Q3 Results Beat, Guidance

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(Updates with recent stock movement in headline and first paragraph.)

MACOM Technology Solutions (MTSI) shares were up over 13% in afternoon trading on Thursday following better-than-expected fiscal Q3 results and Q4 guidance.

Earlier, the company reported an adjusted earnings of $1.40 per diluted share, up from $0.90 a year earlier.

Analysts polled by FactSet expected $1.35.

Revenue for the quarter ended July 3 was $342.2 million, up from $252.1 million a year earlier.

Analysts expected $335.5 million.

The firm said it expects fiscal Q4 revenue of $415 million to $425 million and adjusted EPS of $1.97 to $2.03. Analysts expected $378.5 million and $1.67, respectively.

Price: $299.47, Change: $+36.01, Percent Change: +13.67%

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