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

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Benchmark in a report issued on Friday,Benzinga reports. They presently have a $160.00 target price on the semiconductor company's stock. Benchmark's target price suggests a potential upside of 35.50% from the stock's current price.

Several other analysts have also commented on the company. Barclays decreased their price objective on MACOM Technology Solutions from $160.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Northland Capmk upgraded MACOM Technology Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Northland Securities upgraded MACOM Technology Solutions from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $105.00 to $140.00 in a research note on Monday, February 10th. Truist Financial assumed coverage on MACOM Technology Solutions in a research note on Friday, April 11th. They issued a "buy" rating and a $125.00 target price for the company. Finally, BNP Paribas upgraded MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MACOM Technology Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.91.

MACOM Technology Solutions Stock Down 1.3%

Shares of MTSI traded down $1.58 during midday trading on Friday, hitting $118.08. 570,031 shares of the company's stock traded hands, compared to its average volume of 671,431. MACOM Technology Solutions has a 1 year low of $84.00 and a 1 year high of $152.50. The firm's fifty day moving average is $103.46 and its 200-day moving average is $120.88. The company has a current ratio of 3.61, a quick ratio of 2.88 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of -82.00, a price-to-earnings-growth ratio of 2.42 and a beta of 1.36.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a positive return on equity of 12.42% and a negative net margin of 13.05%. The firm had revenue of $235.89 million during the quarter, compared to analyst estimates of $230.04 million. During the same quarter in the prior year, the business posted $0.59 EPS. The business's revenue for the quarter was up 30.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that MACOM Technology Solutions will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other MACOM Technology Solutions news, Director Geoffrey G. Ribar sold 6,656 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $121.61, for a total transaction of $809,436.16. Following the sale, the director now directly owns 14,031 shares of the company's stock, valued at approximately $1,706,309.91. This trade represents a 32.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Donghyun Thomas Hwang sold 6,471 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $100.00, for a total value of $647,100.00. Following the sale, the senior vice president now directly owns 35,603 shares in the company, valued at $3,560,300. This represents a 15.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 743,064 shares of company stock valued at $91,879,525. Company insiders own 16.30% of the company's stock.

Institutional Investors Weigh In On MACOM Technology Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of MACOM Technology Solutions by 38.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company's stock valued at $519,399,000 after acquiring an additional 1,120,510 shares during the period. Norges Bank acquired a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $82,833,000. Vanguard Group Inc. grew its position in shares of MACOM Technology Solutions by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company's stock valued at $846,656,000 after acquiring an additional 368,979 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $31,260,000. Finally, Nuveen Asset Management LLC grew its position in shares of MACOM Technology Solutions by 129.4% during the 4th quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company's stock valued at $42,621,000 after acquiring an additional 185,075 shares during the period. 76.14% of the stock is owned by institutional investors and hedge funds.

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.