MACOM Technology Solutions (NASDAQ:MTSI) had its target price cut by equities research analysts at Stifel Nicolaus from $43.00 to $35.00 in a research note issued to investors on Wednesday, November 15th, MarketBeat Ratings reports. The firm presently has a “hold” rating on the semiconductor company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 8.46% from the stock’s previous close.
Several other equities analysts have also weighed in on the company. Needham & Company LLC reduced their price objective on MACOM Technology Solutions from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. DA Davidson dropped their target price on MACOM Technology Solutions to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 15th. Bank of America downgraded MACOM Technology Solutions from a “neutral” rating to an “underperform” rating in a report on Wednesday, November 15th. Jefferies Group set a $61.00 target price on MACOM Technology Solutions and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Zacks Investment Research downgraded MACOM Technology Solutions from a “hold” rating to a “strong sell” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. MACOM Technology Solutions currently has an average rating of “Hold” and a consensus target price of $42.10.
MACOM Technology Solutions (MTSI) opened at $32.27 on Wednesday. The firm has a market capitalization of $2,094.36, a price-to-earnings ratio of 19.17, a PEG ratio of 1.61 and a beta of 1.33. MACOM Technology Solutions has a 52-week low of $29.73 and a 52-week high of $65.99. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.81 and a quick ratio of 3.64.
MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings data on Tuesday, November 14th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $166.40 million for the quarter, compared to analysts’ expectations of $171.80 million. MACOM Technology Solutions had a positive return on equity of 15.05% and a negative net margin of 24.26%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. sell-side analysts forecast that MACOM Technology Solutions will post 0.95 EPS for the current year.
In other MACOM Technology Solutions news, insider John Croteau sold 2,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $45.20, for a total transaction of $90,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,500 shares of company stock valued at $155,980 in the last quarter. 42.30% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of MACOM Technology Solutions by 122.6% in the third quarter. Ameriprise Financial Inc. now owns 6,277,406 shares of the semiconductor company’s stock valued at $280,034,000 after buying an additional 3,457,245 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MACOM Technology Solutions by 8.5% in the second quarter. Vanguard Group Inc. now owns 3,444,631 shares of the semiconductor company’s stock valued at $192,107,000 after buying an additional 269,836 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of MACOM Technology Solutions by 60.6% in the third quarter. Frontier Capital Management Co. LLC now owns 3,401,434 shares of the semiconductor company’s stock valued at $151,738,000 after buying an additional 1,283,603 shares during the period. BlackRock Inc. raised its position in shares of MACOM Technology Solutions by 16.7% during the second quarter. BlackRock Inc. now owns 2,394,921 shares of the semiconductor company’s stock worth $133,565,000 after purchasing an additional 342,102 shares during the period. Finally, Jennison Associates LLC raised its position in shares of MACOM Technology Solutions by 3.2% during the third quarter. Jennison Associates LLC now owns 2,140,833 shares of the semiconductor company’s stock worth $95,503,000 after purchasing an additional 65,664 shares during the period. Institutional investors and hedge funds own 88.07% of the company’s stock.
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About MACOM Technology Solutions
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.
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