MACOM Technology Solutions (NASDAQ:MTSI) Posts Earnings Results, Beats Expectations By $0.02 EPS

MACOM Technology Solutions (NASDAQ:MTSIGet Rating) released its quarterly earnings results on Thursday. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02, MarketWatch Earnings reports. The business had revenue of $165.15 million for the quarter, compared to the consensus estimate of $163.14 million. MACOM Technology Solutions had a net margin of 30.06% and a return on equity of 26.84%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. MACOM Technology Solutions updated its Q3 guidance to $0.68-0.72 EPS.

NASDAQ MTSI opened at $51.89 on Friday. The company has a quick ratio of 6.00, a current ratio of 6.91 and a debt-to-equity ratio of 1.15. MACOM Technology Solutions has a 52 week low of $48.68 and a 52 week high of $80.30. The stock has a market capitalization of $3.62 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.56 and a beta of 2.05. The firm has a 50 day moving average of $56.74 and a two-hundred day moving average of $65.55.

In other MACOM Technology Solutions news, CFO John Kober sold 6,015 shares of the business’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $60.47, for a total transaction of $363,727.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 11,815 shares of company stock valued at $712,062 in the last quarter. 28.30% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Peapack Gladstone Financial Corp lifted its position in shares of 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 buying an additional 173 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of MACOM Technology Solutions by 0.4% during the 4th quarter. Allianz Asset Management GmbH now owns 50,031 shares of the semiconductor company’s stock worth $3,917,000 after buying an additional 178 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of MACOM Technology Solutions by 0.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 96,028 shares of the semiconductor company’s stock worth $7,519,000 after buying an additional 594 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of MACOM Technology Solutions by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 67,136 shares of the semiconductor company’s stock worth $5,257,000 after buying an additional 1,486 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of MACOM Technology Solutions by 16.0% during the 4th quarter. Glenmede Trust Co. NA now owns 15,635 shares of the semiconductor company’s stock worth $1,224,000 after buying an additional 2,160 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

A number of research firms have recently issued reports on MTSI. StockNews.com began coverage on shares of MACOM Technology Solutions in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Bank of America boosted their price target on shares of MACOM Technology Solutions from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, January 10th. Barclays dropped their price objective on shares of MACOM Technology Solutions from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group upgraded shares of MACOM Technology Solutions from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Friday. Finally, Benchmark dropped their price objective on shares of MACOM Technology Solutions from $75.00 to $65.00 in a report on Friday. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $75.44.

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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Earnings History for MACOM Technology Solutions (NASDAQ:MTSI)

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