MACOM Technology Solutions (NASDAQ:MTSI) Reaches New 1-Year High on Analyst Upgrade

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)’s share price hit a new 52-week high during trading on Friday after Piper Sandler raised their price target on the stock from $100.00 to $115.00. Piper Sandler currently has a neutral rating on the stock. MACOM Technology Solutions traded as high as $119.64 and last traded at $119.09, with a volume of 38041 shares traded. The stock had previously closed at $116.98.

Several other research analysts have also recently commented on MTSI. Stifel Nicolaus boosted their price target on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Benchmark reiterated a “buy” rating and set a $120.00 target price on shares of MACOM Technology Solutions in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their target price on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays lifted their price target on MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC increased their price objective on MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Activity

In related news, SVP Robert Dennehy sold 6,915 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total transaction of $701,042.70. Following the transaction, the senior vice president now owns 19,481 shares in the company, valued at $1,974,983.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Donghyun Thomas Hwang sold 4,375 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $104.57, for a total value of $457,493.75. Following the completion of the sale, the senior vice president now directly owns 37,148 shares of the company’s stock, valued at approximately $3,884,566.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Dennehy sold 6,915 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total transaction of $701,042.70. Following the sale, the senior vice president now owns 19,481 shares of the company’s stock, valued at $1,974,983.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 654,861 shares of company stock valued at $69,430,533. Insiders own 22.75% of the company’s stock.

Institutional Trading of MACOM Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of MACOM Technology Solutions by 8.1% in the first quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after purchasing an additional 465,759 shares during the period. Sei Investments Co. increased its stake in MACOM Technology Solutions by 14.4% in the 1st quarter. Sei Investments Co. now owns 297,615 shares of the semiconductor company’s stock valued at $28,464,000 after buying an additional 37,407 shares during the period. Tidal Investments LLC raised its position in MACOM Technology Solutions by 175.1% during the 1st quarter. Tidal Investments LLC now owns 11,032 shares of the semiconductor company’s stock worth $1,055,000 after buying an additional 7,022 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MACOM Technology Solutions by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock worth $132,821,000 after acquiring an additional 154,066 shares during the period. Finally, Thornburg Investment Management Inc. boosted its holdings in shares of MACOM Technology Solutions by 44.1% in the first quarter. Thornburg Investment Management Inc. now owns 94,819 shares of the semiconductor company’s stock valued at $9,088,000 after acquiring an additional 29,004 shares in the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

MACOM Technology Solutions Trading Up 4.0 %

The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 124.18, a price-to-earnings-growth ratio of 4.33 and a beta of 1.70. The business’s 50 day moving average price is $107.66 and its 200-day moving average price is $105.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 6.33.

MACOM Technology Solutions (NASDAQ:MTSI) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $190.42 million. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 1.89 EPS for the current fiscal year.

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.