Bank of America Issues Positive Forecast for MACOM Technology Solutions (NASDAQ:MTSI) Stock Price

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective lifted by Bank of America from $140.00 to $160.00 in a research report report published on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also commented on MTSI. Stifel Nicolaus reduced their price objective on shares of MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. BNP Paribas raised MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price target on the stock in a research report on Wednesday, April 9th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of MACOM Technology Solutions in a report on Friday, May 9th. Truist Financial initiated coverage on MACOM Technology Solutions in a research note on Friday, April 11th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Barclays upped their target price on MACOM Technology Solutions from $125.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.50.

MACOM Technology Solutions Trading Up 2.2%

Shares of NASDAQ MTSI opened at $142.23 on Tuesday. MACOM Technology Solutions has a 1-year low of $84.00 and a 1-year high of $152.50. The business has a fifty day moving average price of $121.01 and a 200 day moving average price of $120.76. The stock has a market capitalization of $10.57 billion, a P/E ratio of -116.58, a price-to-earnings-growth ratio of 2.68 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.56 and a quick ratio of 2.86.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $235.89 million during the quarter, compared to the consensus estimate of $230.04 million. MACOM Technology Solutions had a negative net margin of 10.24% and a positive return on equity of 13.32%. The firm’s revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Equities research analysts expect that MACOM Technology Solutions will post 2.43 EPS for the current fiscal year.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 4,944 shares of MACOM Technology Solutions stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $118.59, for a total transaction of $586,308.96. Following the completion of the sale, the senior vice president now directly owns 30,659 shares in the company, valued at approximately $3,635,850.81. The trade was a 13.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Robert Dennehy sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $140.42, for a total transaction of $702,100.00. Following the completion of the sale, the senior vice president now directly owns 15,680 shares in the company, valued at $2,201,785.60. This trade represents a 24.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 454,227 shares of company stock valued at $56,118,317 in the last ninety days. Company insiders own 16.30% of the company’s stock.

Institutional Trading of MACOM Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in MTSI. Vanguard Group Inc. lifted its position in MACOM Technology Solutions by 2.0% during the first quarter. Vanguard Group Inc. now owns 6,646,452 shares of the semiconductor company’s stock valued at $667,171,000 after purchasing an additional 129,201 shares during the period. 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 valued at $519,399,000 after buying an additional 1,120,510 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of MACOM Technology Solutions by 2.4% in the 1st quarter. Alliancebernstein L.P. now owns 1,468,782 shares of the semiconductor company’s stock valued at $147,436,000 after buying an additional 34,214 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of MACOM Technology Solutions by 9.9% in the 1st quarter. GW&K Investment Management LLC now owns 1,275,048 shares of the semiconductor company’s stock valued at $127,990,000 after buying an additional 114,780 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of MACOM Technology Solutions by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,022,565 shares of the semiconductor company’s stock worth $132,882,000 after buying an additional 6,784 shares during the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

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.