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MACOM Technology Solutions (NASDAQ:MTSI) Stock Price Expected to Rise, Bank of America Analyst Says

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MACOM Technology Solutions (NASDAQ:MTSI - Free Report) had its target price upped by Bank of America from $140.00 to $160.00 in a report released on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the semiconductor company's stock.

Several other equities research analysts have also issued reports on the company. BNP Paribas raised MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 9th. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of MACOM Technology Solutions in a report on Friday, May 9th. Barclays lifted their target price on MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Stifel Nicolaus cut their price target on shares of MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Truist Financial assumed coverage on shares of MACOM Technology Solutions in a report on Friday, April 11th. They set a "buy" rating and a $125.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MACOM Technology Solutions presently has an average rating of "Moderate Buy" and an average price target of $133.50.

Get Our Latest Research Report on MACOM Technology Solutions

MACOM Technology Solutions Stock Performance

MACOM Technology Solutions stock traded down $1.22 during midday trading on Tuesday, hitting $141.02. The stock had a trading volume of 344,947 shares, compared to its average volume of 692,990. The company has a market capitalization of $10.48 billion, a PE ratio of -115.40, a P/E/G ratio of 2.68 and a beta of 1.40. MACOM Technology Solutions has a 52-week low of $84.00 and a 52-week high of $152.50. The firm's fifty day moving average is $121.01 and its two-hundred day moving average is $120.76. The company has a current ratio of 3.56, a quick ratio of 2.86 and a debt-to-equity ratio of 0.31.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. The business had revenue of $235.89 million during the quarter, compared to analyst estimates of $230.04 million. MACOM Technology Solutions had a negative net margin of 10.24% and a positive return on equity of 13.32%. The company's revenue was up 30.2% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, research analysts forecast that MACOM Technology Solutions will post 2.43 EPS for the current year.

Insider Buying and Selling at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 5,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.42, for a total value of $702,100.00. Following the completion of the transaction, the senior vice president now directly owns 15,680 shares in the company, valued at approximately $2,201,785.60. The trade was a 24.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen G. Daly sold 9,374 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $127.81, for a total transaction of $1,198,090.94. Following the completion of the sale, the chief executive officer now owns 26,953 shares in the company, valued at $3,444,862.93. This represents a 25.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 454,227 shares of company stock valued at $56,118,317. Company insiders own 16.30% of the company's stock.

Hedge Funds Weigh In On MACOM Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in shares of MACOM Technology Solutions in the 4th quarter worth $35,000. Charles Schwab Investment Management Inc. grew its stake in shares of MACOM Technology Solutions by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 532,342 shares of the semiconductor company's stock worth $69,157,000 after acquiring an additional 1,719 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of MACOM Technology Solutions by 97.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 280 shares of the semiconductor company's stock worth $36,000 after acquiring an additional 138 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of MACOM Technology Solutions during the first quarter valued at about $202,000. Finally, Sowell Financial Services LLC purchased a new position in shares of MACOM Technology Solutions in the 1st quarter valued at approximately $206,000. 76.14% of the stock is owned by hedge funds and other institutional investors.

About MACOM Technology Solutions

(Get Free Report)

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.

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