Why MACOM Stock Jumped Wednesday

Shares of MACOM Technology Solutions (NASDAQ: MTSI) jumped on Wednesday, rising about 16% as of 12:40 p.m. EST.

The stock's gain follows MACOM's fiscal first-quarter update, which featured better-than-expected revenue and earnings per share. In addition, investors were likely pleased with the semiconductor company's outlook for fiscal Q2.

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Source Fool.com