MACOM Technology Solutions (NASDAQ:MTSI) Upgraded by Wall Street Zen to “Buy” Rating

MACOM Technology Solutions (NASDAQ:MTSI) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

Several other equities analysts also recently commented on the company. Barclays upped their price objective on MACOM Technology Solutions from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. BNP Paribas upgraded MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research note on Wednesday, April 9th. Stifel Nicolaus lifted their price objective on MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial upped their price objective on shares of MACOM Technology Solutions from $136.00 to $154.00 and gave the company a “buy” rating in a report on Monday, July 7th. Finally, Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.90.

MACOM Technology Solutions Stock Performance

Shares of MACOM Technology Solutions stock opened at $142.11 on Friday. MACOM Technology Solutions has a 52 week low of $84.00 and a 52 week high of $152.50. The company has a quick ratio of 2.86, a current ratio of 3.56 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $131.46 and a 200-day moving average price of $121.12. The company has a market cap of $10.56 billion, a PE ratio of -116.48, a price-to-earnings-growth ratio of 2.74 and a beta of 1.43.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. The business had revenue of $235.89 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 30.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share. Equities analysts anticipate that MACOM Technology Solutions will post 2.43 earnings per share for the current fiscal year.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $140.42, for a total value of $702,100.00. Following the completion of the transaction, the senior vice president owned 15,680 shares of the company’s stock, valued at $2,201,785.60. The trade was a 24.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan Ocampo sold 104,449 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $123.98, for a total transaction of $12,949,587.02. Following the sale, the director owned 4,118,621 shares in the company, valued at approximately $510,626,631.58. This trade represents a 2.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 454,227 shares of company stock valued at $56,118,317 in the last ninety days. 16.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MACOM Technology Solutions

Several hedge funds have recently added to or reduced their stakes in MTSI. Opal Wealth Advisors LLC bought a new position in shares of MACOM Technology Solutions during the first quarter valued at approximately $25,000. Elequin Capital LP bought a new stake in shares of MACOM Technology Solutions during the fourth quarter valued at approximately $26,000. Versant Capital Management Inc boosted its position in shares of MACOM Technology Solutions by 9,400.0% during the first quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 282 shares in the last quarter. SVB Wealth LLC purchased a new stake in MACOM Technology Solutions in the first quarter worth $34,000. Finally, Allworth Financial LP increased its stake in shares of MACOM Technology Solutions by 131.3% in the 1st quarter. Allworth Financial LP now owns 347 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 197 shares in the last quarter. 76.14% of the stock is owned by 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.