Stifel Nicolaus Raises MACOM Technology Solutions (NASDAQ:MTSI) Price Target to $40.00

MACOM Technology Solutions (NASDAQ:MTSI) had its target price lifted by Stifel Nicolaus from $37.00 to $40.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. They currently have a hold rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently issued reports on MTSI. Piper Sandler upped their target price on shares of MACOM Technology Solutions from $37.00 to $47.00 and gave the company an overweight rating in a report on Thursday. BidaskClub raised shares of MACOM Technology Solutions from a buy rating to a strong-buy rating in a report on Tuesday, May 5th. Barclays upped their target price on shares of MACOM Technology Solutions from $33.00 to $40.00 and gave the company an equal weight rating in a report on Monday, July 20th. Craig Hallum upped their target price on shares of MACOM Technology Solutions from $40.00 to $53.00 and gave the company a buy rating in a report on Thursday. Finally, Zacks Investment Research upgraded shares of MACOM Technology Solutions from a hold rating to a buy rating and set a $30.00 price target on the stock in a research note on Tuesday, May 5th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $40.75.

NASDAQ:MTSI traded down $1.14 on Thursday, hitting $42.26. 1,002,913 shares of the company’s stock were exchanged, compared to its average volume of 662,754. The firm has a 50-day moving average price of $35.29 and a 200-day moving average price 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 has a 52 week low of $15.03 and a 52 week high of $44.69. The company has a market cap of $2.82 billion, a P/E ratio of -44.02 and a beta of 2.39.

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

In other MACOM Technology Solutions news, CFO John Kober sold 3,025 shares of the stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $38.00, for a total transaction of $114,950.00. Following the transaction, the chief financial officer now owns 99,578 shares in the company, valued at approximately $3,783,964. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. In the last quarter, insiders sold 35,709 shares of company stock worth $1,163,451. 32.20% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MACOM Technology Solutions by 25.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,739 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 751 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of MACOM Technology Solutions during the 1st quarter worth approximately $79,000. Asset Management One Co. Ltd. acquired a new position in shares of MACOM Technology Solutions during the 1st quarter worth approximately $85,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MACOM Technology Solutions by 29.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,831 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Needham Investment Management LLC acquired a new position in shares of MACOM Technology Solutions during the 1st quarter worth approximately $189,000. Hedge funds and other 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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Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

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