MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $120.00

MACOM Technology Solutions (NASDAQ:MTSI) had its target price lifted by Needham & Company LLC from $110.00 to $120.00 in a research note published on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on the stock. Jefferies Financial Group reaffirmed a buy rating and issued a $135.00 price target (up from $100.00) on shares of MACOM Technology Solutions in a report on Monday, May 13th. Craig Hallum upped their price target on shares of MACOM Technology Solutions from $95.00 to $120.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Barclays lifted their price objective on MACOM Technology Solutions from $105.00 to $115.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Evercore ISI started coverage on MACOM Technology Solutions in a research report on Tuesday, April 16th. They issued an outperform rating and a $120.00 target price on the stock. Finally, Stifel Nicolaus boosted their price target on MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $117.00.

MACOM Technology Solutions Trading Up 1.2 %

MTSI traded up $1.14 on Friday, hitting $97.19. The company had a trading volume of 476,489 shares, compared to its average volume of 606,377. The company has a market cap of $7.01 billion, a PE ratio of 111.80, a PEG ratio of 5.09 and a beta of 1.69. MACOM Technology Solutions has a 12-month low of $68.58 and a 12-month high of $118.76. The company has a quick ratio of 5.70, a current ratio of 8.18 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $105.94 and its 200 day simple moving average is $98.39.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $190.50 million during the quarter, compared to analyst estimates of $190.42 million. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. Equities research analysts expect that MACOM Technology Solutions will post 1.92 EPS for the current year.

Insider Buying and Selling at MACOM Technology Solutions

In other MACOM Technology Solutions news, Director Charles R. Bland sold 2,500 shares of MACOM Technology Solutions stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $102.39, for a total value of $255,975.00. Following the sale, the director now owns 26,439 shares of the company’s stock, valued at approximately $2,707,089.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles R. Bland sold 2,500 shares of MACOM Technology Solutions stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $102.39, for a total transaction of $255,975.00. Following the completion of the sale, the director now directly owns 26,439 shares in the company, valued at approximately $2,707,089.21. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Donghyun Thomas Hwang sold 7,000 shares of MACOM Technology Solutions stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $102.65, for a total transaction of $718,550.00. Following the sale, the senior vice president now owns 41,325 shares of the company’s stock, valued at $4,242,011.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,761 shares of company stock valued at $46,258,043. 22.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in MACOM Technology Solutions by 1,533.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,234,684 shares of the semiconductor company’s stock valued at $114,765,000 after buying an additional 1,159,076 shares during the last quarter. Norges Bank acquired a new stake in shares of MACOM Technology Solutions during the fourth quarter worth approximately $44,250,000. Vanguard Group Inc. raised its holdings in MACOM Technology Solutions by 8.1% in the first quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after acquiring an additional 465,759 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in MACOM Technology Solutions in the fourth quarter valued at $42,762,000. Finally, Hood River Capital Management LLC acquired a new position in MACOM Technology Solutions during the 1st quarter worth $17,715,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Company Profile

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum in the United States, China, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.