MACOM Technology Solutions (MTSI) Price Target Cut to $36.00

MACOM Technology Solutions (NASDAQ:MTSI) had its target price cut by Craig Hallum from $46.00 to $36.00 in a research note released on Wednesday. They currently have a buy rating on the semiconductor company’s stock.

Several other equities research analysts have also recently commented on the stock. Bank of America dropped their price target on shares of MACOM Technology Solutions from $30.00 to $25.00 and set an underperform rating on the stock in a research report on Wednesday. Needham & Company LLC dropped their price target on shares of MACOM Technology Solutions from $42.00 to $34.00 and set a buy rating on the stock in a research report on Wednesday. Barclays cut shares of MACOM Technology Solutions from an overweight rating to an equal weight rating in a research report on Wednesday. DA Davidson dropped their price target on shares of MACOM Technology Solutions from $43.00 to $32.00 and set a buy rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of MACOM Technology Solutions from an overweight rating to a neutral rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. MACOM Technology Solutions presently has an average rating of Hold and an average target price of $38.00.

Shares of MACOM Technology Solutions (NASDAQ MTSI) opened at $18.92 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.70 and a quick ratio of 3.64. MACOM Technology Solutions has a 1 year low of $17.84 and a 1 year high of $65.99. The company has a market cap of $1,218.56, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.14.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). MACOM Technology Solutions had a positive return on equity of 10.35% and a negative net margin of 28.19%. The business had revenue of $130.93 million during the quarter, compared to the consensus estimate of $132.91 million. During the same quarter last year, the firm posted $0.57 earnings per share. MACOM Technology Solutions’s revenue was down 13.7% compared to the same quarter last year. equities analysts anticipate that MACOM Technology Solutions will post 0.22 EPS for the current year.

In related news, CEO John Croteau sold 2,000 shares of MACOM Technology Solutions stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $31.94, for a total value of $63,880.00. Following the transaction, the chief executive officer now owns 149,219 shares of the company’s stock, valued at approximately $4,766,054.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 4,750 shares of company stock worth $158,518 in the last three months. 32.20% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new position in MACOM Technology Solutions during the 2nd quarter valued at about $293,000. Voya Investment Management LLC grew its stake in MACOM Technology Solutions by 47.7% during the 2nd quarter. Voya Investment Management LLC now owns 18,793 shares of the semiconductor company’s stock valued at $1,048,000 after acquiring an additional 6,069 shares in the last quarter. Cramer Rosenthal Mcglynn LLC grew its stake in MACOM Technology Solutions by 45.6% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 950,052 shares of the semiconductor company’s stock valued at $42,382,000 after acquiring an additional 297,456 shares in the last quarter. GW&K Investment Management LLC grew its stake in MACOM Technology Solutions by 4.8% during the 4th quarter. GW&K Investment Management LLC now owns 763,034 shares of the semiconductor company’s stock valued at $24,829,000 after acquiring an additional 35,084 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in MACOM Technology Solutions by 3.2% during the 3rd quarter. Jennison Associates LLC now owns 2,140,833 shares of the semiconductor company’s stock valued at $95,503,000 after acquiring an additional 65,664 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

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MACOM Technology Solutions 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 (NASDAQ:MTSI)

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