MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $53.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective upped by Craig Hallum from $40.00 to $53.00 in a research report released on Thursday morning, The Fly reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts also recently issued reports on the company. Piper Sandler lifted their price target on MACOM Technology Solutions from $37.00 to $47.00 and gave the company an overweight rating in a report on Thursday. ValuEngine downgraded MACOM Technology Solutions from a buy rating to a hold rating in a report on Friday, May 1st. Barclays lifted their price target on MACOM Technology Solutions from $33.00 to $40.00 and gave the company an equal weight rating in a report on Monday, July 20th. Stifel Nicolaus lifted their price target on MACOM Technology Solutions from $24.00 to $29.00 and gave the company a hold rating in a report on Thursday, April 30th. Finally, Needham & Company LLC lifted their price target on MACOM Technology Solutions from $39.00 to $45.00 and gave the company a buy rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. MACOM Technology Solutions presently has an average rating of Buy and a consensus target price of $40.75.

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

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

In related news, SVP Robert Dennehy sold 10,882 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,371,156.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman John L. Ocampo sold 10,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $30.66, for a total transaction of $306,600.00. The disclosure for this sale can be found here. Insiders sold a total of 35,709 shares of company stock valued at $1,163,451 in the last three months. Insiders own 32.20% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings in 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 purchasing an additional 519,775 shares in the last quarter. Aristotle Capital Boston LLC raised its holdings in shares of MACOM Technology Solutions by 1.9% during the 1st quarter. Aristotle Capital Boston LLC now owns 1,274,409 shares of the semiconductor company’s stock worth $24,125,000 after acquiring an additional 23,433 shares during the period. Emerald Advisers LLC raised its holdings in shares of MACOM Technology Solutions by 36.4% during the 2nd quarter. Emerald Advisers LLC now owns 990,213 shares of the semiconductor company’s stock worth $34,014,000 after acquiring an additional 264,470 shares during the period. Emerald Mutual Fund Advisers Trust raised its holdings in shares of MACOM Technology Solutions by 41.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 891,283 shares of the semiconductor company’s stock worth $30,616,000 after acquiring an additional 260,405 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of MACOM Technology Solutions during the 1st quarter worth $15,761,000. Institutional investors own 74.32% of the company’s stock.

MACOM Technology Solutions Company Profile

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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