Benchmark Reiterates Buy Rating for MACOM Technology Solutions (NASDAQ:MTSI)

MACOM Technology Solutions (NASDAQ:MTSI)‘s stock had its “buy” rating restated by Benchmark in a report issued on Friday,Benzinga reports. They currently have a $160.00 price target on the semiconductor company’s stock. Benchmark’s price target would indicate a potential upside of 35.50% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus dropped their price target on MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Northland Securities upgraded shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $105.00 to $140.00 in a report on Monday, February 10th. Truist Financial initiated coverage on MACOM Technology Solutions in a report on Friday, April 11th. They set a “buy” rating and a $125.00 price target on the stock. BNP Paribas raised MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research report on Wednesday, April 9th. Finally, Bank of America lowered their price objective on shares of MACOM Technology Solutions from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MACOM Technology Solutions has an average rating of “Moderate Buy” and an average target price of $130.91.

MACOM Technology Solutions Trading Down 1.3 %

Shares of MTSI stock opened at $118.08 on Friday. The stock has a market cap of $8.78 billion, a P/E ratio of -82.00, a price-to-earnings-growth ratio of 2.42 and a beta of 1.36. MACOM Technology Solutions has a 1 year low of $84.00 and a 1 year high of $152.50. The company has a current ratio of 3.61, a quick ratio of 2.88 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $103.46 and a 200 day simple moving average of $120.85.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. The business had revenue of $235.89 million for the quarter, compared to analyst estimates of $230.04 million. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, research analysts predict that MACOM Technology Solutions will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 6,471 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $100.00, for a total value of $647,100.00. Following the completion of the transaction, the senior vice president now owns 35,603 shares in the company, valued at $3,560,300. This trade represents a 15.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geoffrey G. Ribar sold 6,656 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $121.61, for a total transaction of $809,436.16. Following the completion of the transaction, the director now directly owns 14,031 shares of the company’s stock, valued at approximately $1,706,309.91. The trade was a 32.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 743,064 shares of company stock worth $91,879,525. 16.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new stake in MACOM Technology Solutions in the first quarter worth $25,000. Elequin Capital LP purchased a new stake in MACOM Technology Solutions in the fourth quarter worth $26,000. Versant Capital Management Inc lifted its position in MACOM Technology Solutions by 9,400.0% during the 1st quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 282 shares during the period. UMB Bank n.a. lifted its holdings 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 during the last quarter. Finally, Empowered Funds LLC bought a new stake in MACOM Technology Solutions in the fourth quarter worth $33,000. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

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.