MACOM Technology Solutions (NASDAQ:MTSI) Issues Q3 Earnings Guidance

MACOM Technology Solutions (NASDAQ:MTSIGet Rating) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.68-0.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.69. The company issued revenue guidance of $168-172 million, compared to the consensus revenue estimate of $168.48 million.

MACOM Technology Solutions stock opened at $51.41 on Thursday. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.56 and a beta of 2.05. The company has a current ratio of 6.91, a quick ratio of 6.00 and a debt-to-equity ratio of 1.15. MACOM Technology Solutions has a 12 month low of $48.68 and a 12 month high of $80.30. The stock’s 50 day moving average is $56.87 and its 200-day moving average is $65.63.

MACOM Technology Solutions (NASDAQ:MTSIGet Rating) last released its quarterly earnings results on Thursday, January 27th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). The firm had revenue of $159.62 million during the quarter, compared to the consensus estimate of $158.99 million. MACOM Technology Solutions had a net margin of 30.06% and a return on equity of 26.84%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. As a group, equities research analysts predict that MACOM Technology Solutions will post 2.11 earnings per share for the current fiscal year.

MTSI has been the subject of a number of recent research reports. Cowen cut their price objective on shares of MACOM Technology Solutions from $85.00 to $80.00 in a report on Friday, January 28th. Barclays lowered their price objective on MACOM Technology Solutions from $90.00 to $75.00 and set an overweight rating on the stock in a research note on Monday. Bank of America increased their target price on MACOM Technology Solutions from $83.00 to $90.00 and gave the stock a buy rating in a report on Monday, January 10th. Craig Hallum cut their price objective on shares of MACOM Technology Solutions from $95.00 to $70.00 and set a buy rating for the company in a research report on Thursday, April 14th. Finally, Zacks Investment Research upgraded shares of MACOM Technology Solutions from a hold rating to a buy rating and set a $63.00 target price for the company in a research report on Monday, January 31st. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and a consensus target price of $79.71.

In other news, CFO John Kober sold 6,015 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $60.47, for a total value of $363,727.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 11,815 shares of company stock worth $712,062 over the last ninety days. 28.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp acquired a new stake in shares of MACOM Technology Solutions in the fourth quarter valued at about $206,000. LPL Financial LLC acquired a new stake in MACOM Technology Solutions during the 4th quarter valued at approximately $239,000. Peapack Gladstone Financial Corp raised its holdings in MACOM Technology Solutions by 5.5% during the 4th quarter. Peapack Gladstone Financial Corp now owns 3,294 shares of the semiconductor company’s stock worth $258,000 after purchasing an additional 173 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of MACOM Technology Solutions in the 3rd quarter worth approximately $313,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of MACOM Technology Solutions by 16.0% in the 4th quarter. Glenmede Trust Co. NA now owns 15,635 shares of the semiconductor company’s stock valued at $1,224,000 after purchasing an additional 2,160 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

MACOM Technology Solutions Company Profile (Get Rating)

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, the Asia Pacific, and internationally.

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