MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $115.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective increased by Piper Sandler from $100.00 to $115.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s target price indicates a potential downside of 3.43% from the stock’s current price.

Several other research firms have also issued reports on MTSI. Stifel Nicolaus upped their target price on MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC lifted their price target on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lifted their price target on MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Benchmark reissued a “buy” rating and set a $120.00 target price on shares of MACOM Technology Solutions in a research note on Thursday, September 12th. Two research 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 a consensus rating of “Moderate Buy” and an average price target of $120.00.

MACOM Technology Solutions Price Performance

Shares of MACOM Technology Solutions stock traded up $2.11 during midday trading on Friday, reaching $119.09. The company had a trading volume of 38,041 shares, compared to its average volume of 562,286. MACOM Technology Solutions has a 1-year low of $68.58 and a 1-year high of $119.64. The stock has a fifty day simple moving average of $107.35 and a 200 day simple moving average of $104.85. The company has a current ratio of 8.18, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 120.34, a price-to-earnings-growth ratio of 4.33 and a beta of 1.70.

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

Insider Transactions at MACOM Technology Solutions

In other news, Director Susan Ocampo sold 95,743 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the transaction, the director now directly owns 6,876,284 shares of the company’s stock, valued at approximately $709,494,983.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Susan Ocampo sold 95,743 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the transaction, the director now owns 6,876,284 shares in the company, valued at $709,494,983.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Dennehy sold 6,915 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total transaction of $701,042.70. Following the completion of the sale, the senior vice president now owns 19,481 shares of the company’s stock, valued at $1,974,983.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 654,861 shares of company stock valued at $69,430,533 in the last quarter. Insiders own 22.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTSI. China Universal Asset Management Co. Ltd. purchased a new stake in shares of MACOM Technology Solutions during the 3rd quarter valued at about $1,725,000. State of Alaska Department of Revenue grew its position in shares of MACOM Technology Solutions by 12.9% during the third quarter. State of Alaska Department of Revenue now owns 6,704 shares of the semiconductor company’s stock worth $745,000 after purchasing an additional 765 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of MACOM Technology Solutions during the third quarter valued at approximately $11,005,000. Louisiana State Employees Retirement System lifted its holdings in shares of MACOM Technology Solutions by 3.2% in the third quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the semiconductor company’s stock worth $1,780,000 after buying an additional 500 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of MACOM Technology Solutions during the third quarter worth $8,916,000. 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.