MACOM Technology Solutions (NASDAQ:MTSI) PT Raised to $110.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price target boosted by equities researchers at Needham & Company LLC from $100.00 to $110.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 6.95% from the stock’s previous close.

A number of other research firms have also recently weighed in on MTSI. Stifel Nicolaus raised their price objective on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. TheStreet cut shares of MACOM Technology Solutions from a “b” rating to a “c+” rating in a report on Thursday, February 1st. Evercore ISI started coverage on shares of MACOM Technology Solutions in a report on Tuesday, April 16th. They issued an “outperform” rating and a $120.00 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $85.00 target price on shares of MACOM Technology Solutions in a report on Thursday, January 4th. Finally, Barclays lifted their target price on shares of MACOM Technology Solutions from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.78.

MACOM Technology Solutions Stock Up 3.9 %

MTSI stock opened at $102.85 on Friday. The company has a current ratio of 7.34, a quick ratio of 5.69 and a debt-to-equity ratio of 0.47. MACOM Technology Solutions has a twelve month low of $48.53 and a twelve month high of $104.90. The company’s 50 day moving average is $96.16 and its two-hundred day moving average is $88.28. The stock has a market cap of $7.41 billion, a P/E ratio of 116.88, a PEG ratio of 6.52 and a beta of 1.65.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. MACOM Technology Solutions had a net margin of 10.01% and a return on equity of 12.67%. The company had revenue of $157.15 million for the quarter, compared to analysts’ expectations of $151.12 million. Research analysts expect that MACOM Technology Solutions will post 2.02 earnings per share for the current fiscal year.

Insider Activity at MACOM Technology Solutions

In related news, SVP Robert Dennehy sold 2,210 shares of MACOM Technology Solutions stock in a transaction on Monday, February 12th. The shares were sold at an average price of $83.79, for a total value of $185,175.90. Following the transaction, the senior vice president now directly owns 35,197 shares in the company, valued at approximately $2,949,156.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Wayne Mack Struble sold 1,019 shares of MACOM Technology Solutions stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.12, for a total transaction of $87,756.28. Following the completion of the transaction, the senior vice president now owns 15,649 shares of the company’s stock, valued at approximately $1,347,691.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Dennehy sold 2,210 shares of MACOM Technology Solutions stock in a transaction on Monday, February 12th. The stock was sold at an average price of $83.79, for a total value of $185,175.90. Following the transaction, the senior vice president now directly owns 35,197 shares of the company’s stock, valued at approximately $2,949,156.63. The disclosure for this sale can be found here. Insiders have sold a total of 804,824 shares of company stock worth $68,127,415 in the last three months. Insiders own 22.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MTSI. Vanguard Group Inc. lifted its holdings in MACOM Technology Solutions by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,717,763 shares of the semiconductor company’s stock valued at $466,455,000 after purchasing an additional 101,938 shares in the last quarter. Burney Co. purchased a new position in MACOM Technology Solutions in the 3rd quarter valued at about $1,318,000. Penserra Capital Management LLC lifted its holdings in MACOM Technology Solutions by 84.3% in the 3rd quarter. Penserra Capital Management LLC now owns 95,114 shares of the semiconductor company’s stock valued at $7,759,000 after purchasing an additional 43,494 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in MACOM Technology Solutions by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 440,481 shares of the semiconductor company’s stock valued at $35,934,000 after purchasing an additional 47,932 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in MACOM Technology Solutions in the 4th quarter valued at about $2,582,000. Institutional investors and hedge funds own 76.14% of the company’s stock.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum in the United States, China, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.