Benchmark Boosts MACOM Technology Solutions (NASDAQ:MTSI) Price Target to $120.00

MACOM Technology Solutions (NASDAQ:MTSI) had its target price hoisted by equities researchers at Benchmark from $115.00 to $120.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 23.05% from the stock’s previous close.

A number of other research firms have also recently commented on MTSI. Needham & Company LLC upped their price objective on MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Craig Hallum increased their price target on MACOM Technology Solutions from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Stifel Nicolaus boosted their price objective on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Barclays increased their target price on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Evercore ISI started 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. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, MACOM Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

MACOM Technology Solutions Trading Down 2.1 %

Shares of MTSI traded down $2.13 during midday trading on Friday, reaching $97.52. The company had a trading volume of 409,161 shares, compared to its average volume of 602,092. MACOM Technology Solutions has a 1-year low of $67.17 and a 1-year high of $118.76. The company has a quick ratio of 5.70, a current ratio of 7.34 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $106.20 and a 200-day simple moving average of $98.07. The stock has a market cap of $7.03 billion, a PE ratio of 110.82, a price-to-earnings-growth ratio of 5.16 and a beta of 1.69.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.05). MACOM Technology Solutions had a net margin of 10.01% and a return on equity of 12.67%. The firm had revenue of $181.23 million during the quarter, compared to analyst estimates of $180.97 million. Research analysts forecast that MACOM Technology Solutions will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling at MACOM Technology Solutions

In related news, Director Susan Ocampo sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $103.02, for a total transaction of $7,726,500.00. Following the sale, the director now directly owns 7,912,681 shares in the company, valued at $815,164,396.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Susan Ocampo sold 75,000 shares of MACOM Technology Solutions stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $103.02, for a total transaction of $7,726,500.00. Following the completion of the sale, the director now directly owns 7,912,681 shares of the company’s stock, valued at approximately $815,164,396.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Donghyun Thomas Hwang sold 5,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $106.25, for a total value of $531,250.00. Following the completion of the transaction, the senior vice president now directly owns 41,523 shares in the company, valued at approximately $4,411,818.75. The disclosure for this sale can be found here. Insiders have sold 538,427 shares of company stock valued at $55,391,868 in the last quarter. Corporate insiders own 22.75% of the company’s stock.

Institutional Trading of MACOM Technology Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in shares of MACOM Technology Solutions in the 2nd quarter valued at $39,000. Riverview Trust Co acquired a new position in MACOM Technology Solutions in the first quarter valued at $47,000. GAMMA Investing LLC grew its holdings in shares of MACOM Technology Solutions by 153.0% during the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 283 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of MACOM Technology Solutions during the fourth quarter worth about $69,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of MACOM Technology Solutions in the 1st quarter valued at about $77,000. Institutional investors and hedge funds 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.