MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $160.00 at Bank of America

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) had its price target increased by analysts at Bank of America from $140.00 to $160.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Bank of America's target price indicates a potential upside of 15.40% from the company's current price.

Several other equities research analysts also recently issued reports on MTSI. Barclays upped their price target on MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. BNP Paribas upgraded shares of MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a report on Wednesday, April 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. Truist Financial started coverage on shares of MACOM Technology Solutions in a research report on Friday, April 11th. They issued a "buy" rating and a $125.00 price objective for the company. Finally, Benchmark reissued a "buy" rating and set a $160.00 target price on shares of MACOM Technology Solutions in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MACOM Technology Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $133.50.

MACOM Technology Solutions Stock Up 1.2%

Shares of NASDAQ MTSI opened at $138.65 on Tuesday. The company's 50 day moving average price is $118.47 and its 200-day moving average price is $120.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.86 and a current ratio of 3.56. MACOM Technology Solutions has a 52-week low of $84.00 and a 52-week high of $152.50. The company has a market capitalization of $10.31 billion, a P/E ratio of -113.65, a price-to-earnings-growth ratio of 2.64 and a beta of 1.40.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $235.89 million during the quarter, compared to the consensus estimate 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 business's revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. Equities analysts forecast that MACOM Technology Solutions will post 2.43 earnings per share for the current year.

Insider Transactions at MACOM Technology Solutions

In other news, CFO John Kober sold 2,250 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $125.65, for a total value of $282,712.50. Following the completion of the transaction, the chief financial officer now directly owns 47,128 shares in the company, valued at approximately $5,921,633.20. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen G. Daly sold 2,380 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $125.70, for a total transaction of $299,166.00. Following the sale, the chief executive officer now directly owns 24,573 shares in the company, valued at $3,088,826.10. This trade represents a 8.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 449,227 shares of company stock worth $55,416,217. 16.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new position in MACOM Technology Solutions in the first quarter worth $25,000. Elequin Capital LP purchased a new stake in MACOM Technology Solutions during the 4th quarter valued at $26,000. Versant Capital Management Inc grew its stake in shares of MACOM Technology Solutions by 9,400.0% in the first quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 282 shares during the last quarter. SVB Wealth LLC purchased a new stake in MACOM Technology Solutions in the first quarter worth $34,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of MACOM Technology Solutions in the 4th quarter worth about $35,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.