MACOM Technology Solutions (MTSI) Given New $34.00 Price Target at Needham & Company LLC

MACOM Technology Solutions (NASDAQ:MTSI) had its target price decreased by stock analysts at Needham & Company LLC from $42.00 to $34.00 in a report released on Wednesday, February 7th, Marketbeat Ratings reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target suggests a potential upside of 78.01% from the stock’s current price.

MTSI has been the topic of a number of other reports. Bank of America cut MACOM Technology Solutions from a “neutral” rating to an “underperform” rating in a research note on Wednesday, November 15th. JPMorgan Chase & Co. lowered MACOM Technology Solutions from an “overweight” rating to a “neutral” rating in a research report on Wednesday, February 7th. Stifel Nicolaus cut their price objective on MACOM Technology Solutions from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, February 6th. cut their price objective on MACOM Technology Solutions from $43.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, November 15th. Finally, Zacks Investment Research lowered MACOM Technology Solutions from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $38.00.

MACOM Technology Solutions (MTSI) opened at $19.10 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.00 and a current ratio of 5.70. MACOM Technology Solutions has a 52 week low of $17.84 and a 52 week high of $65.99. The company has a market capitalization of $1,230.79, a price-to-earnings ratio of -5.43, a price-to-earnings-growth ratio of 4.60 and a beta of 1.14.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $130.93 million for the quarter, compared to analyst estimates of $132.91 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis. sell-side analysts predict that MACOM Technology Solutions will post -0.06 EPS for the current fiscal year.

In related news, insider John Croteau sold 2,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $35.05, for a total value of $70,100.00. Following the transaction, the insider now owns 147,219 shares of the company’s stock, valued at $5,160,025.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 4,750 shares of company stock worth $158,518 in the last ninety days. Corporate insiders own 32.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Advisor Group Inc. increased its holdings in MACOM Technology Solutions by 6.6% in the second quarter. Advisor Group Inc. now owns 2,300 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 143 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in MACOM Technology Solutions by 6.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,799 shares of the semiconductor company’s stock valued at $435,000 after buying an additional 503 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in MACOM Technology Solutions by 32.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,561 shares of the semiconductor company’s stock valued at $199,000 after buying an additional 864 shares during the last quarter. Principal Financial Group Inc. increased its holdings in MACOM Technology Solutions by 27.0% in the second quarter. Principal Financial Group Inc. now owns 5,641 shares of the semiconductor company’s stock valued at $315,000 after buying an additional 1,198 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in MACOM Technology Solutions by 4.5% in the second quarter. Parametric Portfolio Associates LLC now owns 37,015 shares of the semiconductor company’s stock valued at $2,064,000 after buying an additional 1,608 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other 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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