MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $120.00 at Needham & Company LLC

MACOM Technology Solutions (NASDAQ:MTSI) had its price target boosted by Needham & Company LLC from $110.00 to $120.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other analysts have also issued reports on MTSI. Jefferies Financial Group restated a buy rating and issued a $135.00 price target (up from $100.00) on shares of MACOM Technology Solutions in a research report on Monday, May 13th. Evercore ISI began coverage on shares of MACOM Technology Solutions in a research report on Tuesday, April 16th. They issued an outperform rating and a $120.00 price target on the stock. Benchmark raised their price target on shares of MACOM Technology Solutions from $95.00 to $115.00 and gave the stock a buy rating in a research report on Monday, May 6th. Stifel Nicolaus raised their price target on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Finally, Barclays raised their price objective on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $114.55.

MACOM Technology Solutions Stock Down 2.5 %

Shares of MTSI traded down $2.52 during mid-day trading on Friday, hitting $97.13. 948,815 shares of the company’s stock were exchanged, compared to its average volume of 709,936. The firm has a fifty day moving average of $106.06 and a two-hundred day moving average of $98.17. MACOM Technology Solutions has a twelve month low of $67.17 and a twelve month high of $118.76. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of 110.38, a P/E/G ratio of 5.09 and a beta of 1.69. The company has a quick ratio of 5.70, a current ratio of 8.18 and a debt-to-equity ratio of 0.45.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The firm had revenue of $181.23 million during the quarter, compared to analyst estimates of $180.97 million. On average, sell-side analysts forecast that MACOM Technology Solutions will post 1.92 earnings per share for the current year.

Insider Activity at MACOM Technology Solutions

In related news, CFO John Kober sold 13,666 shares of MACOM Technology Solutions stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $102.98, for a total transaction of $1,407,324.68. Following the completion of the transaction, the chief financial officer now directly owns 47,006 shares of the company’s stock, valued at approximately $4,840,677.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MACOM Technology Solutions news, CFO John Kober sold 13,666 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $102.98, for a total value of $1,407,324.68. Following the completion of the transaction, the chief financial officer now directly owns 47,006 shares of the company’s stock, valued at $4,840,677.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan Ocampo sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $103.02, for a total transaction of $7,726,500.00. Following the completion of the transaction, the director now directly owns 7,912,681 shares of the company’s stock, valued at $815,164,396.62. The disclosure for this sale can be found here. Insiders sold 538,427 shares of company stock valued at $55,391,868 in the last ninety days. Insiders own 22.75% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

A number of institutional investors have recently modified their holdings of the stock. TD Asset Management Inc raised its stake in shares of MACOM Technology Solutions by 0.6% in the second quarter. TD Asset Management Inc now owns 39,244 shares of the semiconductor company’s stock worth $4,375,000 after acquiring an additional 244 shares during the last quarter. Versor Investments LP acquired a new stake in shares of MACOM Technology Solutions during the 2nd quarter worth approximately $300,000. CIBC Asset Management Inc acquired a new stake in shares of MACOM Technology Solutions during the 2nd quarter worth approximately $230,000. Lisanti Capital Growth LLC grew its position in shares of MACOM Technology Solutions by 109.1% during the 2nd quarter. Lisanti Capital Growth LLC now owns 47,705 shares of the semiconductor company’s stock worth $5,318,000 after buying an additional 24,895 shares during the period. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of MACOM Technology Solutions during the 2nd quarter worth approximately $484,000. 76.14% of the stock is owned by 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.