MACOM Technology Solutions (NASDAQ:MTSI) PT Raised to $110.00 at Needham & Company LLC

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective hoisted by Needham & Company LLC from $100.00 to $110.00 in a research report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

MTSI has been the topic of a number of other research reports. Stifel Nicolaus lifted their price target on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the company a buy rating in a report on Thursday, April 18th. Barclays lifted their target price on MACOM Technology Solutions from $80.00 to $105.00 and gave the company an overweight rating in a report on Tuesday, January 16th. TheStreet lowered MACOM Technology Solutions from a b rating to a c+ rating in a research note on Thursday, February 1st. Piper Sandler reaffirmed a neutral rating and issued a $85.00 price objective on shares of MACOM Technology Solutions in a research note on Thursday, January 4th. Finally, Evercore ISI began coverage on shares of MACOM Technology Solutions in a research report on Tuesday, April 16th. They set an outperform rating and a $120.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $105.78.

MACOM Technology Solutions Trading Up 3.9 %

NASDAQ MTSI traded up $3.87 during trading hours on Friday, hitting $102.85. 629,777 shares of the company’s stock were exchanged, compared to its average volume of 561,157. The business’s 50 day moving average is $96.16 and its 200-day moving average is $88.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.69 and a current ratio of 7.34. MACOM Technology Solutions has a 12-month low of $48.53 and a 12-month high of $104.90. The firm has a market capitalization of $7.41 billion, a P/E ratio of 116.88, a price-to-earnings-growth ratio of 6.27 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 for the quarter, hitting the consensus estimate of $0.43. MACOM Technology Solutions had a net margin of 10.01% and a return on equity of 12.67%. The business had revenue of $157.15 million for the quarter, compared to analyst estimates of $151.12 million. As a group, analysts anticipate that MACOM Technology Solutions will post 2.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO John Kober sold 12,892 shares of MACOM Technology Solutions stock in a transaction dated 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 sale, the chief financial officer now directly owns 60,672 shares of the company’s stock, valued at $4,850,726.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 9,397 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $92.24, for a total transaction of $866,779.28. Following the transaction, the senior vice president now owns 48,325 shares of the company’s stock, valued at approximately $4,457,498. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO John Kober sold 12,892 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $79.95, for a total value of $1,030,715.40. Following the completion of the transaction, the chief financial officer now owns 60,672 shares of the company’s stock, valued at approximately $4,850,726.40. 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 quarter. 22.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Several large investors have recently added to or reduced their stakes in MTSI. Vanguard Group Inc. raised its holdings in shares of MACOM Technology Solutions by 1.8% during the third quarter. Vanguard Group Inc. now owns 5,717,763 shares of the semiconductor company’s stock worth $466,455,000 after purchasing an additional 101,938 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MACOM Technology Solutions by 1,533.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,234,684 shares of the semiconductor company’s stock worth $114,765,000 after acquiring an additional 1,159,076 shares during the period. Artisan Partners Limited Partnership lifted its holdings in MACOM Technology Solutions by 29.0% in the third quarter. Artisan Partners Limited Partnership now owns 1,128,382 shares of the semiconductor company’s stock worth $92,053,000 after acquiring an additional 253,396 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in MACOM Technology Solutions by 4.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 539,249 shares of the semiconductor company’s stock worth $50,123,000 after acquiring an additional 23,788 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in MACOM Technology Solutions by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 517,283 shares of the semiconductor company’s stock valued at $48,081,000 after acquiring an additional 22,662 shares during the period. 76.14% of the stock is currently owned by institutional investors.

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.