ValuEngine upgraded shares of MACOM Technology Solutions (NASDAQ:MTSI) from a buy rating to a strong-buy rating in a report published on Thursday, ValuEngine reports.
Other research analysts have also issued reports about the stock. Needham & Company LLC restated a buy rating and issued a $17.00 price objective (down from $20.00) on shares of MACOM Technology Solutions in a report on Wednesday, June 19th. Northland Securities set a $23.00 price objective on shares of MACOM Technology Solutions and gave the stock a buy rating in a report on Monday, May 20th. Craig Hallum upgraded shares of MACOM Technology Solutions from a hold rating to a buy rating and set a $25.00 price objective for the company in a report on Wednesday, May 8th. Evercore ISI lowered shares of MACOM Technology Solutions from an outperform rating to an inline rating in a report on Thursday, April 25th. Finally, Piper Jaffray Companies upgraded shares of MACOM Technology Solutions from a neutral rating to an overweight rating and upped their price objective for the stock from $14.00 to $21.00 in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $17.95.
NASDAQ:MTSI traded up $0.63 during midday trading on Thursday, reaching $20.03. 39,241 shares of the stock traded hands, compared to its average volume of 952,389. The business has a fifty day moving average of $16.26. 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 firm has a market capitalization of $1.25 billion, a PE ratio of 142.93 and a beta of 1.94.
MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported ($0.42) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.13. MACOM Technology Solutions had a negative net margin of 76.27% and a negative return on equity of 6.74%. The business had revenue of $108.30 million during the quarter, compared to analyst estimates of $108.20 million. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was down 21.5% on a year-over-year basis. As a group, analysts forecast that MACOM Technology Solutions will post -1 EPS for the current fiscal year.
In other news, Chairman John L. Ocampo acquired 60,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were bought at an average cost of $13.26 per share, with a total value of $795,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman John L. Ocampo acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were purchased at an average cost of $13.30 per share, for a total transaction of $1,330,000.00. The disclosure for this purchase can be found here. 32.40% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in MTSI. California Public Employees Retirement System grew its position in MACOM Technology Solutions by 237.9% during the 4th quarter. California Public Employees Retirement System now owns 69,600 shares of the semiconductor company’s stock valued at $1,010,000 after purchasing an additional 49,000 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of MACOM Technology Solutions by 2.9% during the 4th quarter. BlackRock Inc. now owns 3,077,685 shares of the semiconductor company’s stock valued at $44,656,000 after acquiring an additional 87,704 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MACOM Technology Solutions by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 383,751 shares of the semiconductor company’s stock valued at $5,568,000 after acquiring an additional 3,411 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of MACOM Technology Solutions by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 504,443 shares of the semiconductor company’s stock valued at $7,319,000 after acquiring an additional 44,973 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $256,000. 74.79% of the stock is currently owned by institutional investors.
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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