MACOM Technology Solutions (NASDAQ:MTSI) Upgraded to Strong-Buy at BidaskClub

MACOM Technology Solutions (NASDAQ:MTSI) was upgraded by BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday, BidAskClub reports.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of MACOM Technology Solutions in a research report on Wednesday, November 13th. DA Davidson lifted their target price on shares of MACOM Technology Solutions to $24.00 in a research report on Thursday, November 14th. Zacks Investment Research cut shares of 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. Piper Sandler lifted their target price on shares of MACOM Technology Solutions from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Finally, ValuEngine cut shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $22.08.

Shares of NASDAQ MTSI traded down $1.01 during midday trading on Wednesday, hitting $29.03. The company had a trading volume of 352,021 shares, compared to its average volume of 276,454. The company has a quick ratio of 3.88, a current ratio of 5.33 and a debt-to-equity ratio of 2.18. MACOM Technology Solutions has a twelve month low of $12.33 and a twelve month high of $30.12. The business has a 50-day simple moving average of $26.88 and a two-hundred day simple moving average of $22.54. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -4.85 and a beta of 1.92.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings data on Tuesday, November 12th. The semiconductor company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 77.29% and a negative return on equity of 10.69%. The business’s revenue for the quarter was down 25.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share.

In other news, Director Charles R. Bland sold 3,000 shares of MACOM Technology Solutions stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $26.58, for a total transaction of $79,740.00. Following the completion of the sale, the director now directly owns 42,482 shares in the company, valued at $1,129,171.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas J. Carlson sold 3,183 shares of MACOM Technology Solutions stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $27.21, for a total transaction of $86,609.43. Following the sale, the senior vice president now owns 53,571 shares of the company’s stock, valued at $1,457,666.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,422 shares of company stock valued at $172,437. Insiders own 32.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MTSI. Charles Schwab Investment Management Inc. grew its position in shares of MACOM Technology Solutions by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 262,894 shares of the semiconductor company’s stock worth $3,978,000 after acquiring an additional 4,525 shares during the last quarter. BlackRock Inc. lifted its position in shares of MACOM Technology Solutions by 0.3% in the second quarter. BlackRock Inc. now owns 3,120,638 shares of the semiconductor company’s stock worth $47,215,000 after purchasing an additional 7,955 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of MACOM Technology Solutions in the second quarter worth approximately $707,000. Cubist Systematic Strategies LLC lifted its position 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 worth $245,000 after purchasing an additional 2,206 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of MACOM Technology Solutions in the second quarter worth approximately $200,000. Institutional investors and hedge funds own 74.21% of the company’s stock.

MACOM Technology Solutions Company Profile

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.

Further Reading: Growth Stocks

Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

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