MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $47.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price target boosted by Piper Sandler from $37.00 to $47.00 in a research report released on Thursday morning, The Fly reports. Piper Sandler currently has an overweight rating on the semiconductor company’s stock.

Other analysts have also issued reports about the stock. Barclays upped their price objective on shares of MACOM Technology Solutions from $33.00 to $40.00 and gave the company an equal weight rating in a research note on Monday, July 20th. Zacks Investment Research raised shares of MACOM Technology Solutions from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Tuesday, May 5th. ValuEngine lowered shares of MACOM Technology Solutions from a buy rating to a hold rating in a research report on Friday, May 1st. Needham & Company LLC increased their price target on shares of MACOM Technology Solutions from $36.00 to $39.00 and gave the stock a buy rating in a research report on Tuesday, July 7th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of MACOM Technology Solutions from a buy rating to a strong-buy rating in a research report on Tuesday, May 5th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $40.75.

MTSI stock traded down $1.14 during mid-day trading on Thursday, reaching $42.26. 1,002,913 shares of the stock traded hands, compared to its average volume of 662,754. The company has a current ratio of 4.50, a quick ratio of 3.42 and a debt-to-equity ratio of 2.39. MACOM Technology Solutions has a 52-week low of $15.03 and a 52-week high of $44.69. The company has a market cap of $2.82 billion, a P/E ratio of -44.02 and a beta of 2.39. The stock’s fifty day moving average is $35.29 and its 200-day moving average is $28.77.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.12. MACOM Technology Solutions had a negative net margin of 11.20% and a positive return on equity of 2.51%. The company had revenue of $137.27 million during the quarter, compared to analyst estimates of $131.19 million. During the same period in the prior year, the firm earned ($0.42) earnings per share. The business’s quarterly revenue was up 26.7% on a year-over-year basis. Equities research analysts expect that MACOM Technology Solutions will post 0.19 earnings per share for the current year.

In other MACOM Technology Solutions news, CFO John Kober sold 3,025 shares of the stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $38.00, for a total transaction of $114,950.00. Following the transaction, the chief financial officer now owns 99,578 shares in the company, valued at $3,783,964. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman John L. Ocampo sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $32.61, for a total value of $228,270.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,709 shares of company stock worth $1,163,451. Insiders own 32.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MTSI. AQR Capital Management LLC acquired a new position in MACOM Technology Solutions during the fourth quarter valued at approximately $558,000. Geode Capital Management LLC grew its stake in shares of MACOM Technology Solutions by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 630,992 shares of the semiconductor company’s stock worth $16,784,000 after acquiring an additional 23,482 shares during the last quarter. Norges Bank acquired a new stake in shares of MACOM Technology Solutions in the fourth quarter worth $4,018,000. Envestnet Asset Management Inc. grew its stake in shares of MACOM Technology Solutions by 4.7% in the first quarter. Envestnet Asset Management Inc. now owns 36,010 shares of the semiconductor company’s stock worth $682,000 after acquiring an additional 1,620 shares during the last quarter. Finally, Ziegler Capital Management LLC acquired a new stake in shares of MACOM Technology Solutions in the first quarter worth $4,344,000. Institutional investors own 74.32% of the company’s stock.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.

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