MACOM Technology Solutions (NASDAQ:MTSI) Given New $110.00 Price Target at Needham & Company LLC

MACOM Technology Solutions (NASDAQ:MTSI) had its price target lifted by Needham & Company LLC from $100.00 to $110.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

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

MACOM Technology Solutions Stock Performance

Shares of NASDAQ:MTSI traded up $3.87 during trading on Friday, hitting $102.85. The stock had a trading volume of 629,777 shares, compared to its average volume of 561,157. The stock has a 50-day simple moving average of $96.16 and a two-hundred day simple moving average of $88.22. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 116.88, a price-to-earnings-growth ratio of 6.27 and a beta of 1.65. MACOM Technology Solutions has a 12-month low of $48.53 and a 12-month high of $104.90. The company has a quick ratio of 5.69, a current ratio of 7.34 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In related news, SVP Donghyun Thomas Hwang sold 9,397 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $92.24, for a total transaction of $866,779.28. Following the transaction, the senior vice president now owns 48,325 shares in the company, valued at $4,457,498. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Robert Dennehy sold 2,210 shares of the company’s 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 owns 35,197 shares of the company’s stock, valued at approximately $2,949,156.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Donghyun Thomas Hwang sold 9,397 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $92.24, for a total transaction of $866,779.28. Following the completion of the sale, the senior vice president now owns 48,325 shares in the company, valued at $4,457,498. The disclosure for this sale can be found here. Insiders have sold 804,824 shares of company stock valued at $68,127,415 in the last ninety days. 22.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

A number of hedge funds have recently made changes to their positions in MTSI. Riverview Trust Co acquired a new position in MACOM Technology Solutions during the first quarter worth $47,000. RiverPark Advisors LLC acquired a new position in MACOM Technology Solutions during the 3rd quarter worth about $58,000. Harvest Fund Management Co. Ltd purchased a new position in MACOM Technology Solutions during the 4th quarter valued at about $69,000. Fidelis Capital Partners LLC purchased a new position in MACOM Technology Solutions during the 1st quarter valued at about $77,000. Finally, Hennessy Advisors Inc. acquired a new position in MACOM Technology Solutions in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors 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.