MACOM Technology Solutions (NASDAQ:MTSI) Shares Down 9.1%

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) dropped 9.1% during mid-day trading on Tuesday . The stock traded as low as $98.97 and last traded at $99.27. Approximately 234,249 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 589,507 shares. The stock had previously closed at $109.23.

Wall Street Analyst Weigh In

MTSI has been the subject of several research reports. Barclays increased their price target on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group restated a “buy” rating and set a $135.00 price target (up previously from $100.00) on shares of MACOM Technology Solutions in a research report on Monday, May 13th. Benchmark increased their price target on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC increased their price target on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $117.00.

MACOM Technology Solutions Stock Performance

The stock has a market capitalization of $7.14 billion, a PE ratio of 112.57, a P/E/G ratio of 5.58 and a beta of 1.69. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 6.33. The business’s fifty day moving average price is $105.64 and its 200-day moving average price is $101.05.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The firm had revenue of $190.50 million for the quarter, compared to the consensus estimate of $190.42 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that MACOM Technology Solutions Holdings, Inc. will post 1.89 EPS for the current year.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 5,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $106.25, for a total transaction of $531,250.00. Following the transaction, the senior vice president now directly owns 41,523 shares in the company, valued at $4,411,818.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Robert Dennehy sold 6,683 shares of MACOM Technology Solutions stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $106.78, for a total value of $713,610.74. Following the sale, the senior vice president now owns 26,396 shares in the company, valued at $2,818,564.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donghyun Thomas Hwang sold 5,000 shares of MACOM Technology Solutions stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $106.25, for a total transaction of $531,250.00. Following the completion of the sale, the senior vice president now 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 652,946 shares of company stock valued at $69,260,741 over the last three months. 22.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTSI. Opal Wealth Advisors LLC purchased a new position in MACOM Technology Solutions during the second quarter valued at $39,000. Riverview Trust Co purchased a new position in shares of MACOM Technology Solutions in the 1st quarter worth about $47,000. GAMMA Investing LLC raised its position in shares of MACOM Technology Solutions by 153.0% in the 2nd 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. Fidelis Capital Partners LLC purchased a new position in shares of MACOM Technology Solutions in the 1st quarter worth about $77,000. Finally, FSC Wealth Advisors LLC purchased a new position in shares of MACOM Technology Solutions in the 2nd quarter worth about $78,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Company Profile

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.