MACOM Technology Solutions (NASDAQ:MTSI) Given New $24.00 Price Target at DA Davidson

MACOM Technology Solutions (NASDAQ:MTSI) had its target price lifted by DA Davidson to $24.00 in a research report sent to investors on Thursday, The Fly reports.

Several other research analysts have also recently commented on the company. Piper Jaffray Companies raised MACOM Technology Solutions from a neutral rating to an overweight rating and raised their target price for the stock from $14.00 to $21.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. raised their target price on MACOM Technology Solutions from $15.00 to $18.00 and gave the stock an underweight rating in a research report on Wednesday, November 13th. Zacks Investment Research cut MACOM Technology Solutions from a buy rating to a hold rating and set a $23.00 target price for the company. in a research report on Monday, October 14th. ValuEngine cut MACOM Technology Solutions from a buy rating to a hold rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a buy rating and set a $28.00 price objective on shares of MACOM Technology Solutions in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. MACOM Technology Solutions has an average rating of Hold and an average price target of $20.80.

MTSI stock traded down $0.22 during midday trading on Thursday, hitting $25.69. The stock had a trading volume of 669,700 shares, compared to its average volume of 713,847. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -42.82, a P/E/G ratio of 76.09 and a beta of 1.88. MACOM Technology Solutions has a 52 week low of $12.33 and a 52 week high of $27.16. The stock has a 50-day simple moving average of $22.22 and a 200 day simple moving average of $18.46. The company has a current ratio of 4.37, a quick ratio of 3.20 and a debt-to-equity ratio of 2.29.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its earnings results on Tuesday, November 12th. The semiconductor company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.08. The firm had revenue of $112.20 million during the quarter, compared to analysts’ expectations of $110.16 million. MACOM Technology Solutions had a negative return on equity of 9.62% and a negative net margin of 77.29%. MACOM Technology Solutions’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. On average, equities analysts forecast that MACOM Technology Solutions will post -0.04 EPS for the current year.

In other MACOM Technology Solutions news, Director Charles R. Bland sold 3,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $26.58, for a total transaction of $79,740.00. Following the completion of the transaction, the director now directly owns 42,482 shares in the company, valued at $1,129,171.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 32.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Segment Wealth Management LLC increased its stake in shares of MACOM Technology Solutions by 0.8% in the third quarter. Segment Wealth Management LLC now owns 71,772 shares of the semiconductor company’s stock valued at $1,543,000 after buying an additional 600 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of MACOM Technology Solutions by 7.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,448 shares of the semiconductor company’s stock valued at $220,000 after buying an additional 1,007 shares in the last quarter. Swiss National Bank increased its stake in shares of MACOM Technology Solutions by 2.4% in the second quarter. Swiss National Bank now owns 85,150 shares of the semiconductor company’s stock valued at $1,288,000 after buying an additional 2,000 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of MACOM Technology Solutions by 14.5% in the second quarter. UBS Asset Management Americas Inc. now owns 17,382 shares of the semiconductor company’s stock valued at $263,000 after buying an additional 2,196 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of MACOM Technology Solutions by 15.8% in the second quarter. Cubist Systematic Strategies LLC now owns 16,170 shares of the semiconductor company’s stock valued at $245,000 after buying an additional 2,206 shares in the last quarter. Hedge funds and other institutional investors own 77.64% 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.

Featured Story: How to invest using market indexes

The Fly

Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

Receive News & Ratings for MACOM Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MACOM Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.