MACOM Technology Solutions (NASDAQ:MTSI) Hits New 1-Year High Following Analyst Upgrade

Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) reached a new 52-week high on Monday after Benchmark raised their price target on the stock from $95.00 to $115.00. Benchmark currently has a buy rating on the stock. MACOM Technology Solutions traded as high as $107.00 and last traded at $105.66, with a volume of 44758 shares trading hands. The stock had previously closed at $102.85.

A number of other analysts have also commented on MTSI. Barclays lifted their target price on MACOM Technology Solutions from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday. Evercore ISI began coverage on shares of MACOM Technology Solutions in a report on Tuesday, April 16th. They issued an “outperform” rating and a $120.00 price target on the stock. Needham & Company LLC upped their price objective on MACOM Technology Solutions from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Craig Hallum boosted their target price on MACOM Technology Solutions from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus boosted their price objective on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, MACOM Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.33.

Insider Activity at MACOM Technology Solutions

In related news, SVP Donghyun Thomas Hwang sold 9,397 shares of MACOM Technology Solutions stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $92.24, for a total value of $866,779.28. Following the sale, the senior vice president now directly owns 48,325 shares in the company, valued at approximately $4,457,498. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Donghyun Thomas Hwang sold 9,397 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $92.24, for a total value of $866,779.28. Following the completion of the sale, the senior vice president now owns 48,325 shares of the company’s stock, valued at approximately $4,457,498. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the senior vice president now owns 35,197 shares in the company, valued at approximately $2,949,156.63. The disclosure for this sale can be found here. Insiders sold a total of 725,939 shares of company stock worth $61,816,600 in the last three months. Company insiders own 22.75% of the company’s stock.

Institutional Investors Weigh In On MACOM Technology Solutions

Several institutional investors have recently added to or reduced their stakes in MTSI. Riverview Trust Co purchased a new position in MACOM Technology Solutions during the first quarter worth about $47,000. RiverPark Advisors LLC acquired a new position in shares of MACOM Technology Solutions in the third quarter valued at approximately $58,000. Fidelis Capital Partners LLC purchased a new stake in shares of MACOM Technology Solutions in the first quarter valued at $77,000. Harvest Fund Management Co. Ltd purchased a new stake in MACOM Technology Solutions in the fourth quarter valued at approximately $69,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of MACOM Technology Solutions in the 4th quarter worth $129,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Performance

The company has a current ratio of 7.34, a quick ratio of 5.70 and a debt-to-equity ratio of 0.47. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 117.63, a P/E/G ratio of 7.99 and a beta of 1.65. The stock’s 50-day moving average is $96.47 and its 200-day moving average is $88.54.

MACOM Technology Solutions Company Profile

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.