Craig Hallum Increases MACOM Technology Solutions (NASDAQ:MTSI) Price Target to $120.00

MACOM Technology Solutions (NASDAQ:MTSI) had its target price raised by analysts at Craig Hallum from $95.00 to $120.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price indicates a potential upside of 16.67% from the company’s previous close.

Several other analysts have also issued reports on the stock. Needham & Company LLC upped their price target on shares of MACOM Technology Solutions from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet downgraded shares of MACOM Technology Solutions from a “b” rating to a “c+” rating in a research note on Thursday, February 1st. Stifel Nicolaus boosted their price target on MACOM Technology Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Evercore ISI initiated coverage on MACOM Technology Solutions in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $120.00 price objective on the stock. Finally, Piper Sandler reiterated a “neutral” rating and set a $85.00 target price on shares of MACOM Technology Solutions in a research note on Thursday, January 4th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.78.

MACOM Technology Solutions Stock Performance

MTSI opened at $102.85 on Friday. The business’s 50-day simple moving average is $96.16 and its 200 day simple moving average is $88.28. MACOM Technology Solutions has a 52-week low of $48.53 and a 52-week high of $104.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.69 and a current ratio of 7.34. The firm has a market capitalization of $7.41 billion, a PE ratio of 116.88, a PEG ratio of 6.52 and a beta of 1.65.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. MACOM Technology Solutions had a return on equity of 12.67% and a net margin of 10.01%. The company had revenue of $157.15 million for the quarter, compared to analysts’ expectations of $151.12 million. As a group, sell-side analysts expect that MACOM Technology Solutions will post 2.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Robert Dennehy sold 2,210 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $83.79, for a total value of $185,175.90. Following the completion of the sale, the senior vice president now owns 35,197 shares of the company’s stock, valued at $2,949,156.63. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MACOM Technology Solutions news, CFO John Kober sold 12,892 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $79.95, for a total transaction of $1,030,715.40. Following the transaction, the chief financial officer now owns 60,672 shares in the company, valued at approximately $4,850,726.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Robert Dennehy sold 2,210 shares of MACOM Technology Solutions stock in a transaction on Monday, February 12th. The shares were sold at an average price of $83.79, for a total value of $185,175.90. Following the completion of the transaction, the senior vice president now directly owns 35,197 shares of the company’s stock, valued at $2,949,156.63. The disclosure for this sale can be found here. Insiders have sold 804,824 shares of company stock worth $68,127,415 in the last 90 days. Company insiders own 22.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MTSI. Asset Management One Co. Ltd. grew its stake in MACOM Technology Solutions by 8.6% during the third quarter. Asset Management One Co. Ltd. now owns 3,732 shares of the semiconductor company’s stock worth $304,000 after buying an additional 294 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in MACOM Technology Solutions during the third quarter valued at approximately $236,000. Strs Ohio lifted its stake in MACOM Technology Solutions by 54.5% during the third quarter. Strs Ohio now owns 5,100 shares of the semiconductor company’s stock worth $416,000 after purchasing an additional 1,800 shares during the last quarter. Advisor Partners II LLC acquired a new stake in shares of MACOM Technology Solutions in the 3rd quarter valued at $220,000. Finally, Park Avenue Securities LLC bought a new position in shares of MACOM Technology Solutions in the 3rd quarter valued at $377,000. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Company Profile

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.