MACOM Technology Solutions (NASDAQ:MTSI) Shares Gap Down After Earnings Miss

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) shares gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $135.73, but opened at $127.00. MACOM Technology Solutions shares last traded at $127.91, with a volume of 145,457 shares traded.

The semiconductor company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.38). MACOM Technology Solutions had a return on equity of 12.91% and a net margin of 10.53%.

Analyst Ratings Changes

MTSI has been the subject of several recent research reports. Barclays raised their target price on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Northland Securities lifted their price objective on MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a research report on Monday, November 11th. Benchmark upped their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler raised their price target on MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.00.

Insider Buying and Selling at MACOM Technology Solutions

In related news, SVP Robert Dennehy sold 2,539 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $120.80, for a total value of $306,711.20. Following the transaction, the senior vice president now directly owns 31,206 shares of the company’s stock, valued at approximately $3,769,684.80. This trade represents a 7.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 105,782 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $123.67, for a total value of $13,082,059.94. Following the sale, the director now directly owns 5,914,008 shares of the company’s stock, valued at approximately $731,385,369.36. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,532 shares of company stock worth $27,902,795 in the last 90 days. 16.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning lifted its position in MACOM Technology Solutions by 50.0% during the second quarter. Creative Planning now owns 9,362 shares of the semiconductor company’s stock valued at $1,044,000 after buying an additional 3,119 shares in the last quarter. GAMMA Investing LLC raised its position in MACOM Technology Solutions by 75.4% in the third quarter. GAMMA Investing LLC now owns 821 shares of the semiconductor company’s stock valued at $91,000 after purchasing an additional 353 shares during the period. CWM LLC lifted its stake in shares of MACOM Technology Solutions by 16.4% during the third quarter. CWM LLC now owns 1,689 shares of the semiconductor company’s stock worth $188,000 after purchasing an additional 238 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of MACOM Technology Solutions in the third quarter worth about $367,000. Finally, Raymond James & Associates grew its stake in shares of MACOM Technology Solutions by 5.2% in the third quarter. Raymond James & Associates now owns 38,917 shares of the semiconductor company’s stock valued at $4,330,000 after buying an additional 1,924 shares in the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

MACOM Technology Solutions Trading Down 1.8 %

The business’s 50-day simple moving average is $135.97 and its two-hundred day simple moving average is $119.82. The company has a current ratio of 8.35, a quick ratio of 6.55 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $9.46 billion, a PE ratio of 123.51, a PEG ratio of 2.32 and a beta of 1.71.

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.