MACOM Technology Solutions (NASDAQ:MTSI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of MACOM Technology Solutions (NASDAQ:MTSI - Free Report) from a hold rating to a buy rating in a research note released on Sunday.

Several other research firms have also commented on MTSI. BNP Paribas raised MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a report on Wednesday, April 9th. Truist Financial increased their target price on MACOM Technology Solutions from $136.00 to $154.00 and gave the company a "buy" rating in a report on Monday, July 7th. Bank of America increased their target price on MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Barclays increased their target price on MACOM Technology Solutions from $125.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $139.90.

MACOM Technology Solutions Price Performance

Shares of NASDAQ:MTSI traded up $0.35 during trading on Friday, reaching $142.11. 343,026 shares of the company's stock traded hands, compared to its average volume of 663,562. MACOM Technology Solutions has a fifty-two week low of $84.00 and a fifty-two week high of $152.50. The company has a quick ratio of 2.86, a current ratio of 3.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $10.56 billion, a PE ratio of -116.48, a P/E/G ratio of 2.74 and a beta of 1.43. The company has a 50-day simple moving average of $131.46 and a 200-day simple moving average of $121.12.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a positive return on equity of 13.32% and a negative net margin of 10.24%. The company had revenue of $235.89 million for the quarter, compared to analysts' expectations of $230.04 million. During the same period in the previous year, the firm posted $0.59 EPS. MACOM Technology Solutions's revenue was up 30.2% compared to the same quarter last year. As a group, analysts predict that MACOM Technology Solutions will post 2.43 earnings per share for the current year.

Insider Buying and Selling at MACOM Technology Solutions

In other MACOM Technology Solutions news, CEO Stephen G. Daly sold 14,665 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $122.71, for a total value of $1,799,542.15. Following the completion of the sale, the chief executive officer directly owned 36,327 shares of the company's stock, valued at approximately $4,457,686.17. The trade was a 28.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Kober sold 2,250 shares of MACOM Technology Solutions stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $125.65, for a total transaction of $282,712.50. Following the completion of the transaction, the chief financial officer owned 47,128 shares in the company, valued at approximately $5,921,633.20. This trade represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 454,227 shares of company stock worth $56,118,317. 16.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of MACOM Technology Solutions by 38.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company's stock worth $519,399,000 after purchasing an additional 1,120,510 shares during the last quarter. Norges Bank purchased a new stake in shares of MACOM Technology Solutions in the 4th quarter valued at approximately $82,833,000. Vanguard Group Inc. increased its stake in MACOM Technology Solutions by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company's stock valued at $846,656,000 after buying an additional 368,979 shares during the period. AQR Capital Management LLC increased its stake in shares of MACOM Technology Solutions by 5,891.8% during the 1st quarter. AQR Capital Management LLC now owns 247,400 shares of the semiconductor company's stock worth $23,510,000 after purchasing an additional 243,271 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of MACOM Technology Solutions during the 4th quarter worth $31,260,000. Institutional investors and hedge funds 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.