MACOM Technology Solutions (NASDAQ:MTSI) Reaches New 12-Month High After Analyst Upgrade

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)’s stock price hit a new 52-week high during trading on Friday after Piper Sandler raised their price target on the stock from $100.00 to $115.00. Piper Sandler currently has a neutral rating on the stock. MACOM Technology Solutions traded as high as $119.64 and last traded at $119.09, with a volume of 38041 shares traded. The stock had previously closed at $116.98.

Other analysts also recently issued reports about the company. Stifel Nicolaus boosted their target price 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. Benchmark reiterated a “buy” rating and issued a $120.00 price objective on shares of MACOM Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC raised their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Barclays increased their price target on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Insider Buying and Selling

In other MACOM Technology Solutions news, Director Susan Ocampo sold 95,743 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $103.18, for a total value of $9,878,762.74. Following the completion of the transaction, the director now directly owns 6,876,284 shares in the company, valued at approximately $709,494,983.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Robert Dennehy sold 6,915 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total transaction of $701,042.70. Following the transaction, the senior vice president now directly owns 19,481 shares in the company, valued at $1,974,983.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Ocampo sold 95,743 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the completion of the sale, the director now owns 6,876,284 shares of the company’s stock, valued at approximately $709,494,983.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 654,861 shares of company stock worth $69,430,533. 22.75% of the stock is owned by insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

A number of large investors have recently bought and sold shares of MTSI. Opal Wealth Advisors LLC acquired a new stake in shares of MACOM Technology Solutions during the 2nd quarter worth $39,000. GAMMA Investing LLC increased its stake in MACOM Technology Solutions by 153.0% during the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 283 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of MACOM Technology Solutions in the 3rd quarter worth about $66,000. FSC Wealth Advisors LLC purchased a new position in shares of MACOM Technology Solutions in the 2nd quarter worth about $78,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of MACOM Technology Solutions in the 1st quarter valued at about $77,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Up 4.0 %

The stock has a fifty day moving average price of $107.66 and a 200-day moving average price of $105.00. The firm has a market cap of $8.79 billion, a PE ratio of 124.18, a PEG ratio of 4.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 8.18.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $190.50 million for the quarter, compared to the consensus estimate of $190.42 million. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Research analysts expect that MACOM Technology Solutions Holdings, Inc. will post 1.89 EPS for the current year.

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.