MACOM Technology Solutions (NASDAQ:MTSI) Given “Buy” Rating at Benchmark

MACOM Technology Solutions (NASDAQ:MTSI)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a report issued on Friday,Benzinga reports. They currently have a $160.00 price target on the semiconductor company’s stock. Benchmark’s price objective suggests a potential upside of 35.50% from the stock’s previous close.

MTSI has been the subject of several other reports. Truist Financial initiated coverage on shares of MACOM Technology Solutions in a research note on Friday, April 11th. They set a “buy” rating and a $125.00 target price for the company. Bank of America lowered their price objective on shares of MACOM Technology Solutions from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus decreased their target price on shares of MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Northland Capmk upgraded MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, BNP Paribas raised MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $130.91.

MACOM Technology Solutions Stock Down 1.3 %

Shares of MTSI stock opened at $118.08 on Friday. The company has a current ratio of 3.61, a quick ratio of 2.88 and a debt-to-equity ratio of 0.33. The stock has a market cap of $8.78 billion, a P/E ratio of -82.00, a P/E/G ratio of 2.42 and a beta of 1.36. MACOM Technology Solutions has a 12 month low of $84.00 and a 12 month high of $152.50. The company has a 50 day simple moving average of $103.46 and a two-hundred day simple moving average of $120.85.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. The business had revenue of $235.89 million for the quarter, compared to the consensus estimate of $230.04 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, research analysts expect that MACOM Technology Solutions will post 2.43 earnings per share for the current year.

Insider Activity

In related news, Director Susan Ocampo sold 45,773 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $125.35, for a total value of $5,737,645.55. Following the completion of the sale, the director now owns 5,509,746 shares in the company, valued at approximately $690,646,661.10. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey G. Ribar sold 6,656 shares of MACOM Technology Solutions stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $121.61, for a total value of $809,436.16. Following the completion of the sale, the director now owns 14,031 shares of the company’s stock, valued at $1,706,309.91. The trade was a 32.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 743,064 shares of company stock valued at $91,879,525. 16.30% of the stock is currently owned by company insiders.

Institutional Trading of MACOM Technology Solutions

Several hedge funds have recently modified their holdings of MTSI. Price T Rowe Associates Inc. MD raised its stake in shares of MACOM Technology Solutions by 38.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company’s stock worth $519,399,000 after acquiring an additional 1,120,510 shares in the last quarter. Norges Bank acquired a new position in MACOM Technology Solutions during the 4th quarter valued at about $82,833,000. Vanguard Group Inc. boosted its stake in MACOM Technology Solutions by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company’s stock worth $846,656,000 after purchasing an additional 368,979 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of MACOM Technology Solutions during the fourth quarter valued at $31,260,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of MACOM Technology Solutions by 129.4% in the fourth quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company’s stock valued at $42,621,000 after purchasing an additional 185,075 shares during the period. 76.14% of the stock is owned by hedge funds and other institutional investors.

About MACOM Technology Solutions

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.