MACOM Technology Solutions (NASDAQ:MTSI) Receives “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of MACOM Technology Solutions (NASDAQ:MTSI) in a research note published on Monday morning,Benzinga reports. The brokerage currently has a $160.00 target price on the semiconductor company’s stock.

MTSI has been the subject of a number of other reports. Barclays upped their target price on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Piper Sandler raised their target price on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Northland Securities upgraded shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $105.00 to $140.00 in a research note on Monday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, MACOM Technology Solutions has an average rating of “Moderate Buy” and a consensus target price of $131.50.

MACOM Technology Solutions Price Performance

Shares of MTSI stock opened at $122.75 on Monday. MACOM Technology Solutions has a 1 year low of $81.14 and a 1 year high of $152.50. The company has a current ratio of 3.61, a quick ratio of 6.55 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $135.69 and its 200-day moving average is $120.22. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of -85.24, a PEG ratio of 2.27 and a beta of 1.71.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.38). MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. Sell-side analysts forecast that MACOM Technology Solutions will post 2.71 EPS for the current fiscal year.

Insider Activity

In other news, Director Susan Ocampo sold 25,351 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $130.05, for a total transaction of $3,296,897.55. Following the completion of the sale, the director now owns 6,046,676 shares in the company, valued at $786,370,213.80. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert Dennehy sold 2,539 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $120.80, for a total transaction of $306,711.20. Following the completion of the sale, the senior vice president now owns 31,206 shares of the company’s stock, valued at approximately $3,769,684.80. The trade was a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 218,532 shares of company stock valued at $27,902,795. 16.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On MACOM Technology Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Westfield Capital Management Co. LP grew its stake in MACOM Technology Solutions by 21.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock valued at $134,686,000 after purchasing an additional 210,151 shares during the period. Charles Schwab Investment Management Inc. grew its stake in MACOM Technology Solutions by 52.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,623 shares of the semiconductor company’s stock worth $59,037,000 after buying an additional 182,058 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of MACOM Technology Solutions by 18.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after purchasing an additional 116,090 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of MACOM Technology Solutions in the 3rd quarter worth approximately $11,005,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of MACOM Technology Solutions during the third quarter valued at about $8,916,000. Institutional investors and hedge funds 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.