MACOM Technology Solutions (NASDAQ:MTSI) announced its earnings results on Thursday. The semiconductor company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.13, Briefing.com reports. The company had revenue of $108.30 million for the quarter, compared to analyst estimates of $108.20 million. MACOM Technology Solutions had a negative return on equity of 1.98% and a negative net margin of 30.19%. MACOM Technology Solutions’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. MACOM Technology Solutions updated its Q4 2019 guidance to $-0.04-0.00 EPS and its Q4 guidance to ($0.06)-$0.00 EPS.
Shares of MTSI stock traded down $0.28 on Friday, reaching $19.40. 2,495,304 shares of the company’s stock traded hands, compared to its average volume of 858,546. MACOM Technology Solutions has a 12-month low of $12.33 and a 12-month high of $24.11. The company has a quick ratio of 3.66, a current ratio of 5.01 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1.29 billion, a P/E ratio of 138.57 and a beta of 1.94. The company has a 50 day moving average of $16.26.
In other news, Chairman John L. Ocampo bought 60,000 shares of the stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $13.26 per share, for a total transaction of $795,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman John L. Ocampo bought 100,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $13.30 per share, for a total transaction of $1,330,000.00. The disclosure for this purchase can be found here. Insiders own 32.40% of the company’s stock.
A number of brokerages have recently weighed in on MTSI. Craig Hallum upgraded MACOM Technology Solutions from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Wednesday, May 8th. Jefferies Financial Group downgraded MACOM Technology Solutions from a “buy” rating to a “hold” rating and lowered their price target for the company from $18.00 to $15.00 in a report on Wednesday, April 24th. DA Davidson set a $14.00 price target on MACOM Technology Solutions and gave the company a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded MACOM Technology Solutions from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, BidaskClub upgraded MACOM Technology Solutions from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. MACOM Technology Solutions currently has a consensus rating of “Hold” and an average price target of $17.95.
About MACOM Technology Solutions
MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.
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