MACOM Technology Solutions (NASDAQ:MTSI) Shares Up 6% – Here’s What Happened

Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) were up 6% during trading on Wednesday . The stock traded as high as $94.96 and last traded at $92.91. Approximately 151,667 shares changed hands during trading, a decline of 76% from the average daily volume of 644,405 shares. The stock had previously closed at $87.64.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTSI. BNP Paribas upgraded shares of MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Wednesday. Northland Securities raised MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $105.00 to $140.00 in a research report on Monday, February 10th. Benchmark restated a “buy” rating and set a $160.00 price objective on shares of MACOM Technology Solutions in a research report on Monday, February 10th. Finally, Northland Capmk raised shares of MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.82.

MACOM Technology Solutions Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.88 and a current ratio of 3.61. The company has a fifty day moving average price of $112.26 and a two-hundred day moving average price of $122.11. The company has a market cap of $6.82 billion, a P/E ratio of -63.57, a PEG ratio of 2.42 and a beta of 1.72.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.38). MACOM Technology Solutions had a positive return on equity of 12.42% and a negative net margin of 13.05%. On average, sell-side analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Donghyun Thomas Hwang sold 7,355 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $133.00, for a total value of $978,215.00. Following the transaction, the senior vice president now directly owns 43,657 shares in the company, valued at approximately $5,806,381. This represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan Ocampo sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $124.13, for a total transaction of $37,239,000.00. Following the transaction, the director now directly owns 4,823,636 shares in the company, valued at $598,757,936.68. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 743,948 shares of company stock valued at $92,210,640. 16.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Elequin Capital LP acquired a new position in MACOM Technology Solutions during the 4th quarter worth approximately $26,000. UMB Bank n.a. boosted its stake in shares of MACOM Technology Solutions by 74.3% during the fourth quarter. UMB Bank n.a. now owns 237 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 101 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of MACOM Technology Solutions in the fourth quarter valued at approximately $33,000. SBI Securities Co. Ltd. acquired a new stake in MACOM Technology Solutions during the 4th quarter worth approximately $35,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of MACOM Technology Solutions during the fourth quarter worth $36,000. Institutional investors and hedge funds 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.