Equities research analysts expect that MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) will post earnings per share of $0.09 for the current quarter, Zacks reports. Six analysts have issued estimates for MACOM Technology Solutions’ earnings. The highest EPS estimate is $0.11 and the lowest is $0.07. MACOM Technology Solutions posted earnings of ($0.42) per share in the same quarter last year, which suggests a positive year over year growth rate of 121.4%. The firm is expected to announce its next quarterly earnings results on Thursday, August 6th.
According to Zacks, analysts expect that MACOM Technology Solutions will report full year earnings of $0.68 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.70. For the next financial year, analysts forecast that the firm will post earnings of $0.99 per share, with EPS estimates ranging from $0.78 to $1.20. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for MACOM Technology Solutions.
MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.07. The business had revenue of $126.40 million during the quarter, compared to analysts’ expectations of $122.91 million. MACOM Technology Solutions had a negative net margin of 76.21% and a negative return on equity of 12.55%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS.
Several brokerages recently issued reports on MTSI. Zacks Investment Research upgraded shares of MACOM Technology Solutions from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, May 5th. Barclays lowered their target price on shares of MACOM Technology Solutions from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, April 17th. ValuEngine downgraded MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. Stifel Nicolaus upped their price objective on MACOM Technology Solutions from $24.00 to $29.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Craig Hallum upped their price objective on MACOM Technology Solutions from $28.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $30.89.
NASDAQ:MTSI traded up $1.34 during mid-day trading on Tuesday, hitting $32.89. The stock had a trading volume of 451,100 shares, compared to its average volume of 571,526. MACOM Technology Solutions has a twelve month low of $14.92 and a twelve month high of $34.96. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -6.20 and a beta of 2.38. The company’s 50 day simple moving average is $31.83 and its 200 day simple moving average is $27.18. The company has a debt-to-equity ratio of 2.39, a quick ratio of 3.42 and a current ratio of 4.50.
In other MACOM Technology Solutions news, SVP Robert Dennehy sold 11,319 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $31.55, for a total transaction of $357,114.45. Following the completion of the transaction, the senior vice president now owns 86,355 shares of the company’s stock, valued at $2,724,500.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John L. Ocampo sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $30.66, for a total transaction of $306,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,201 shares of company stock worth $1,338,191. 32.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in MTSI. Morgan Stanley grew its position in MACOM Technology Solutions by 200.4% in the 1st quarter. Morgan Stanley now owns 200,033 shares of the semiconductor company’s stock worth $3,787,000 after purchasing an additional 133,435 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of MACOM Technology Solutions during the 1st quarter worth $308,000. Advisor Group Holdings Inc. purchased a new position in shares of MACOM Technology Solutions during the 1st quarter valued at $209,000. AQR Capital Management LLC lifted its stake in shares of MACOM Technology Solutions by 1.8% during the 1st quarter. AQR Capital Management LLC now owns 21,355 shares of the semiconductor company’s stock valued at $404,000 after buying an additional 377 shares in the last quarter. Finally, Engineers Gate Manager LP increased its holdings in MACOM Technology Solutions by 47.4% in the 1st quarter. Engineers Gate Manager LP now owns 36,409 shares of the semiconductor company’s stock valued at $689,000 after acquiring an additional 11,703 shares during the last quarter. 74.34% 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 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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