Benchmark Reaffirms Buy Rating for MACOM Technology Solutions (NASDAQ:MTSI)

Benchmark reaffirmed their buy rating on shares of MACOM Technology Solutions (NASDAQ:MTSI) in a report issued on Thursday morning, Benzinga reports. The firm currently has a $120.00 price target on the semiconductor company’s stock.

A number of other research firms have also recently issued reports on MTSI. Stifel Nicolaus increased their target price on MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a buy rating in a report on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Barclays boosted their target price on MACOM Technology Solutions from $115.00 to $120.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC raised their price target on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $117.00.

MACOM Technology Solutions Trading Down 0.2 %

NASDAQ:MTSI opened at $101.14 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 6.33. The business’s 50-day simple moving average is $104.33 and its 200-day simple moving average is $101.49. MACOM Technology Solutions has a fifty-two week low of $68.58 and a fifty-two week high of $118.76. The stock has a market capitalization of $7.30 billion, a PE ratio of 114.93, a price-to-earnings-growth ratio of 5.18 and a beta of 1.70.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.66. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The firm had revenue of $190.50 million for the quarter, compared to analyst estimates of $190.42 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts expect that MACOM Technology Solutions will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MACOM Technology Solutions news, Director Susan Ocampo sold 95,743 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total value of $9,878,762.74. Following the completion of the sale, the director now owns 6,876,284 shares in the company, valued at $709,494,983.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other MACOM Technology Solutions news, SVP Robert Dennehy sold 6,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $106.78, for a total transaction of $713,610.74. Following the transaction, the senior vice president now owns 26,396 shares of the company’s stock, valued at $2,818,564.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan Ocampo sold 95,743 shares of the firm’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 value of $9,878,762.74. Following the completion of the sale, the director now directly owns 6,876,284 shares of the company’s stock, valued at $709,494,983.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 652,946 shares of company stock worth $69,260,741. Insiders own 22.75% of the company’s stock.

Institutional Investors Weigh In On MACOM Technology Solutions

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in MACOM Technology Solutions by 958.1% during the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock worth $149,214,000 after purchasing an additional 1,212,094 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of MACOM Technology Solutions by 1,533.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,234,684 shares of the semiconductor company’s stock worth $114,765,000 after buying an additional 1,159,076 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of MACOM Technology Solutions by 280.5% during the 2nd quarter. Hood River Capital Management LLC now owns 704,834 shares of the semiconductor company’s stock worth $78,568,000 after buying an additional 519,603 shares during the period. Norges Bank acquired a new position in MACOM Technology Solutions in the 4th quarter valued at about $44,250,000. Finally, Vanguard Group Inc. raised its holdings in MACOM Technology Solutions by 8.1% in the 1st 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 during the period. Institutional investors own 76.14% of the company’s stock.

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.