MACOM Technology Solutions Holdings’ (NASDAQ:MTSI) “Buy” Rating Reiterated at Needham & Company LLC

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Tuesday, October 17th, MarketBeat Ratings reports. They presently have a $45.00 price objective on the semiconductor company’s stock, down from their previous price objective of $56.00. Needham & Company LLC’s target price indicates a potential upside of 16.28% from the company’s previous close.

The analysts wrote, “MTSI shares traded down 12% yesterday on a competitor’s downgrade. Having reviewed the points raised in the downgrade, we see many common themes that have been key tenants of the bear case on MACOM for the past several quarters but we don’t see a lot of new news. The bear themes include weakness in China telecom spending, questions around the prices paid for and accretion from recent acquisitions, a lack of consistent strong cash flow and timing uncertainty around the ramp of 100G single-lambda PAM4 solutions. While our competitor redeuced December quarter estimates to be flat Q/Q (in-line with Street), we agree the consensus CY18 revenue ramp now looks aggressive. Accordingly, we are reducing our CY18 estimates.””



Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of MACOM Technology Solutions Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research cut shares of MACOM Technology Solutions Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and set a $61.00 price objective (down from $66.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, August 2nd. Barclays PLC restated an “overweight” rating and set a $63.00 price objective (down from $70.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, August 2nd. Finally, DA Davidson started coverage on shares of MACOM Technology Solutions Holdings in a research report on Monday, October 16th. They set a “neutral” rating and a $45.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.67.

Shares of MACOM Technology Solutions Holdings (NASDAQ:MTSI) traded up 2.92% during trading on Tuesday, hitting $39.83. The stock had a trading volume of 310,015 shares. The stock has a 50 day moving average of $42.18 and a 200 day moving average of $50.06. The firm’s market cap is $2.56 billion. MACOM Technology Solutions Holdings has a 52-week low of $35.33 and a 52-week high of $65.99.

MACOM Technology Solutions Holdings (NASDAQ:MTSI) last posted its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). The business had revenue of $194.56 million during the quarter, compared to analysts’ expectations of $194.93 million. MACOM Technology Solutions Holdings had a positive return on equity of 17.21% and a negative net margin of 22.43%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that MACOM Technology Solutions Holdings will post $2.33 EPS for the current year.

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In other news, Director Geoffrey G. Ribar purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average price of $43.37 per share, for a total transaction of $216,850.00. Following the completion of the purchase, the director now directly owns 11,063 shares of the company’s stock, valued at $479,802.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles R. Bland sold 750 shares of MACOM Technology Solutions Holdings stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $60.73, for a total transaction of $45,547.50. Following the completion of the transaction, the director now owns 24,390 shares of the company’s stock, valued at approximately $1,481,204.70. The disclosure for this sale can be found here. Insiders sold 8,250 shares of company stock valued at $416,783 in the last 90 days. Company insiders own 42.30% of the company’s stock.

Large investors have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of MACOM Technology Solutions Holdings during the 2nd quarter worth approximately $105,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of MACOM Technology Solutions Holdings during the 1st quarter worth approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MACOM Technology Solutions Holdings by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,174 shares of the semiconductor company’s stock worth $121,000 after buying an additional 199 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of MACOM Technology Solutions Holdings by 7.9% during the 1st quarter. Fifth Third Bancorp now owns 2,590 shares of the semiconductor company’s stock worth $125,000 after buying an additional 189 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in shares of MACOM Technology Solutions Holdings by 6.6% during the 2nd quarter. Advisor Group Inc. now owns 2,300 shares of the semiconductor company’s stock worth $128,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

MACOM Technology Solutions Holdings Company Profile

MACOM Technology Solutions Holdings, Inc is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia.

Analyst Recommendations for MACOM Technology Solutions Holdings (NASDAQ:MTSI)

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