Needham & Company LLC Issues Pessimistic Forecast for MACOM Technology Solutions (NASDAQ:MTSI) Stock Price

MACOM Technology Solutions (NASDAQ:MTSI) had its target price reduced by research analysts at Needham & Company LLC from $410.00 to $300.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC‘s target price would suggest a potential upside of 57.38% from the company’s previous close.

Several other analysts have also weighed in on the stock. Wall Street Zen upgraded shares of MACOM Technology Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Benchmark initiated coverage on shares of MACOM Technology Solutions in a report on Thursday, August 13th. They issued a “buy” rating and a $375.00 price target for the company. Susquehanna lowered their price objective on shares of MACOM Technology Solutions from $350.00 to $300.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Raymond James Financial upgraded shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Tuesday, October 27th. Finally, BMO Capital Markets raised shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and set a $335.00 target price on the stock in a report on Friday, September 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $329.62.

MACOM Technology Solutions Stock Down 18.2%

Shares of MTSI stock traded down $42.51 during trading hours on Thursday, hitting $190.62. 1,984,818 shares of the company were exchanged, compared to its average volume of 1,473,283. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 61.43, a P/E/G ratio of 0.77 and a beta of 1.82. MACOM Technology Solutions has a one year low of $150.80 and a one year high of $418.90. The business’s 50-day simple moving average is $273.90 and its two-hundred day simple moving average is $283.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.78 and a current ratio of 2.34.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings data on Thursday, November 5th. The semiconductor company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.09. The firm had revenue of $424.82 million during the quarter, compared to analyst estimates of $420.35 million. MACOM Technology Solutions had a return on equity of 17.82% and a net margin of 20.70%. MACOM Technology Solutions’s quarterly revenue was up 62.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. Sell-side analysts predict that MACOM Technology Solutions will post 4.26 EPS for the current fiscal year.

Insider Buying and Selling

In other MACOM Technology Solutions news, SVP Ambra Roth sold 653 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $300.00, for a total transaction of $195,900.00. Following the completion of the transaction, the senior vice president directly owned 9,184 shares of the company’s stock, valued at $2,755,200. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John Kober sold 1,027 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $236.60, for a total transaction of $242,988.20. Following the completion of the transaction, the chief financial officer owned 34,405 shares of the company’s stock, valued at approximately $8,140,223. This trade represents a 2.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 9,321 shares of company stock valued at $2,917,644 in the last quarter. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jupiter Topco LLC bought a new position in MACOM Technology Solutions in the 2nd quarter worth $256,612,000. Bank of America Corp DE acquired a new stake in shares of MACOM Technology Solutions during the 2nd quarter worth approximately $247,732,000. Bank of New York Mellon Corp bought a new stake in shares of MACOM Technology Solutions during the second quarter valued at approximately $204,593,000. Janus Henderson Group PLC raised its stake in shares of MACOM Technology Solutions by 15.5% in the first quarter. Janus Henderson Group PLC now owns 784,118 shares of the semiconductor company’s stock valued at $174,109,000 after purchasing an additional 105,032 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of MACOM Technology Solutions in the second quarter valued at $137,970,000. 76.14% of the stock is currently owned by institutional investors and hedge funds.

MACOM Technology Solutions Company Profile

MACOM Technology Solutions Holdings, Inc develops and manufactures high-performance semiconductor products for applications involving radio frequency, microwave, millimeter-wave, analog, mixed-signal and optical technologies. Its offerings include integrated circuits, discrete components, modules and semiconductor devices designed to support communications, connectivity and sensing systems.

The company serves markets including telecommunications, data centers, aerospace and defense, industrial, automotive and consumer applications.