MACOM Technology Solutions (NASDAQ:MTSI) Given New $120.00 Price Target at Benchmark

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective raised by Benchmark from $115.00 to $120.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

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

MACOM Technology Solutions Stock Up 1.0 %

Shares of MTSI stock traded up $0.93 during mid-day trading on Friday, hitting $98.06. The stock had a trading volume of 484,106 shares, compared to its average volume of 604,922. The firm has a market capitalization of $7.07 billion, a P/E ratio of 110.38, a price-to-earnings-growth ratio of 5.09 and a beta of 1.69. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 5.70. MACOM Technology Solutions has a 12-month low of $68.58 and a 12-month high of $118.76. The firm’s 50-day moving average is $106.06 and its two-hundred day moving average is $98.34.

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 firm 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 business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, analysts predict that MACOM Technology Solutions will post 1.92 earnings per share for the current fiscal year.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, Director Susan Ocampo sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $103.02, for a total transaction of $7,726,500.00. Following the completion of the sale, the director now owns 7,912,681 shares of the company’s stock, valued at $815,164,396.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO John Kober sold 13,666 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $102.98, for a total transaction of $1,407,324.68. Following the completion of the transaction, the chief financial officer now directly owns 47,006 shares in the company, valued at $4,840,677.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan Ocampo sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $103.02, for a total value of $7,726,500.00. Following the transaction, the director now owns 7,912,681 shares of the company’s stock, valued at $815,164,396.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 538,427 shares of company stock valued at $55,391,868. 22.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTSI. Raymond James & Associates boosted its holdings in MACOM Technology Solutions by 2.9% in the fourth quarter. Raymond James & Associates now owns 36,837 shares of the semiconductor company’s stock valued at $3,424,000 after purchasing an additional 1,054 shares during the period. International Assets Investment Management LLC purchased a new position in MACOM Technology Solutions in the fourth quarter valued at $156,000. Fulton Bank N.A. boosted its holdings in MACOM Technology Solutions by 6.6% in the fourth quarter. Fulton Bank N.A. now owns 5,186 shares of the semiconductor company’s stock valued at $482,000 after purchasing an additional 323 shares during the period. New York State Teachers Retirement System boosted its holdings in MACOM Technology Solutions by 2.5% in the fourth quarter. New York State Teachers Retirement System now owns 8,226 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 200 shares during the period. Finally, Cerity Partners LLC acquired a new stake in MACOM Technology Solutions in the fourth quarter valued at $304,000. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

About MACOM Technology Solutions

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.