Barclays PLC Cuts MACOM Technology Solutions Holdings, Inc. (MTSI) Price Target to $50.00

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) had its price target dropped by analysts at Barclays PLC from $63.00 to $50.00 in a note issued to investors on Wednesday, October 18th. The brokerage presently has an “overweight” rating on the semiconductor company’s stock. Barclays PLC’s price target would indicate a potential upside of 24.69% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective (down previously from $56.00) on shares of MACOM Technology Solutions Holdings in a report on Tuesday, October 17th. DA Davidson started coverage on shares of MACOM Technology Solutions Holdings in a report on Monday, October 16th. They issued a “neutral” rating and a $45.00 target price on the stock. Stifel Nicolaus lowered shares of MACOM Technology Solutions Holdings from a “buy” rating to a “hold” rating and lowered their target price for the stock from $57.00 to $43.00 in a report on Monday, October 16th. Zacks Investment Research upgraded shares of MACOM Technology Solutions Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, Craig Hallum restated a “buy” rating and issued a $54.00 target price on shares of MACOM Technology Solutions Holdings in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $49.67.

Shares of MACOM Technology Solutions Holdings (NASDAQ:MTSI) traded up 3.62% on Wednesday, hitting $40.10. The stock had a trading volume of 503,210 shares. The stock’s market cap is $2.58 billion. The firm’s 50-day moving average is $41.96 and its 200 day moving average is $49.90. MACOM Technology Solutions Holdings has a 1-year low of $35.33 and a 1-year high of $65.99.

MACOM Technology Solutions Holdings (NASDAQ:MTSI) last announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.01). MACOM Technology Solutions Holdings had a negative net margin of 22.43% and a positive return on equity of 17.21%. The company had revenue of $194.56 million for the quarter, compared to analyst estimates of $194.93 million. During the same quarter in the prior year, the company posted $0.51 EPS. MACOM Technology Solutions Holdings’s revenue for the quarter was up 36.7% on a year-over-year basis. Equities analysts forecast 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 acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was purchased at an average price of $43.37 per share, for a total transaction of $216,850.00. Following the purchase, the director now owns 11,063 shares in the company, valued at approximately $479,802.31. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Croteau sold 2,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $45.20, for a total transaction of $90,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,250 shares of company stock valued at $416,783. Company insiders own 42.30% of the company’s stock.

Large investors have recently bought and sold shares of the business. Strs Ohio bought a new position in shares of MACOM Technology Solutions Holdings during the 2nd quarter valued at approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $121,000 after acquiring an additional 199 shares during the period. Advisor Group Inc. grew 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 valued at $128,000 after acquiring an additional 143 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of MACOM Technology Solutions Holdings during the 1st quarter valued at approximately $116,000. Finally, Fifth Third Bancorp grew 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 valued at $125,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 79.43% of the company’s stock.

About MACOM Technology Solutions Holdings

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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