MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $45.00

MACOM Technology Solutions (NASDAQ:MTSI) had its target price raised by Northland Securities from $38.00 to $45.00 in a research note released on Thursday, The Fly reports. Northland Securities currently has an outperform rating on the semiconductor company’s stock.

Several other equities research analysts have also recently weighed in on MTSI. Craig Hallum raised their price objective on shares of MACOM Technology Solutions from $40.00 to $53.00 and gave the company a buy rating in a research report on Thursday. Zacks Investment Research upgraded shares of MACOM Technology Solutions from a hold rating to a buy rating and set a $30.00 price objective for the company in a research report on Tuesday, May 5th. BidaskClub upgraded shares of MACOM Technology Solutions from a buy rating to a strong-buy rating in a research report on Tuesday, May 5th. ValuEngine cut shares of MACOM Technology Solutions from a buy rating to a hold rating in a research report on Friday, May 1st. Finally, Stifel Nicolaus lifted their price target on shares of MACOM Technology Solutions from $24.00 to $29.00 and gave the stock a hold rating in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $40.75.

MTSI stock traded down $1.14 during trading on Thursday, hitting $42.26. 1,002,913 shares of the stock traded hands, compared to its average volume of 662,754. MACOM Technology Solutions has a one year low of $15.03 and a one year high of $44.69. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -44.02 and a beta of 2.39. The company has a 50 day simple moving average of $35.29 and a 200 day simple moving average of $28.77. The company has a current ratio of 4.50, a quick ratio of 3.42 and a debt-to-equity ratio of 2.39.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.12. MACOM Technology Solutions had a negative net margin of 11.20% and a positive return on equity of 2.51%. The firm had revenue of $137.27 million during the quarter, compared to the consensus estimate of $131.19 million. During the same period last year, the firm posted ($0.42) EPS. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. As a group, analysts predict that MACOM Technology Solutions will post 0.19 earnings per share for the current fiscal year.

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 10,882 shares of MACOM Technology Solutions stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $32.32, for a total value of $351,706.24. Following the sale, the senior vice president now owns 73,365 shares of the company’s stock, valued at approximately $2,371,156.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donghyun Thomas Hwang sold 981 shares of MACOM Technology Solutions stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $36.20, for a total value of $35,512.20. Following the completion of the sale, the senior vice president now directly owns 67,122 shares in the company, valued at approximately $2,429,816.40. The disclosure for this sale can be found here. Insiders sold a total of 35,709 shares of company stock worth $1,163,451 in the last three months. Company insiders own 32.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of MACOM Technology Solutions by 16.1% in the 1st quarter. Victory Capital Management Inc. now owns 3,753,813 shares of the semiconductor company’s stock valued at $71,060,000 after acquiring an additional 519,775 shares in the last quarter. Aristotle Capital Boston LLC grew its holdings in shares of MACOM Technology Solutions by 1.9% in the 1st quarter. Aristotle Capital Boston LLC now owns 1,274,409 shares of the semiconductor company’s stock valued at $24,125,000 after acquiring an additional 23,433 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of MACOM Technology Solutions by 36.4% in the 2nd quarter. Emerald Advisers LLC now owns 990,213 shares of the semiconductor company’s stock valued at $34,014,000 after acquiring an additional 264,470 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of MACOM Technology Solutions by 41.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 891,283 shares of the semiconductor company’s stock valued at $30,616,000 after acquiring an additional 260,405 shares in the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of MACOM Technology Solutions in the 1st quarter valued at about $15,761,000. Institutional investors own 74.32% of the company’s stock.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.

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