MACOM Technology Solutions (NASDAQ:MTSI) Given New $154.00 Price Target at Truist Financial

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) had its price target increased by analysts at Truist Financial from $136.00 to $154.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor company's stock. Truist Financial's price target points to a potential upside of 11.56% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus lowered their price target on MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Barclays upped their price target on shares of MACOM Technology Solutions from $125.00 to $150.00 and gave the company an "overweight" rating in a research note 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 price objective for the company in a research note on Wednesday, April 9th. Bank of America boosted their price objective on shares of MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of MACOM Technology Solutions in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.40.

MACOM Technology Solutions Stock Down 1.9%

Shares of NASDAQ MTSI traded down $2.64 during midday trading on Monday, reaching $138.04. 531,709 shares of the company's stock traded hands, compared to its average volume of 670,375. The company has a market cap of $10.26 billion, a price-to-earnings ratio of -113.15, a P/E/G ratio of 2.71 and a beta of 1.43. MACOM Technology Solutions has a one year low of $84.00 and a one year 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 stock's 50 day simple moving average is $125.88 and its 200-day simple moving average is $120.68.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $230.04 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm's quarterly revenue was up 30.2% compared to the same quarter last year. On average, analysts predict that MACOM Technology Solutions will post 2.43 EPS for the current fiscal year.

Insider Activity

In other MACOM Technology Solutions news, CEO Stephen G. Daly sold 14,665 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 36,327 shares in the company, valued at approximately $4,457,686.17. This represents a 28.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Robert Dennehy sold 5,000 shares of MACOM Technology Solutions 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 owned 15,680 shares of the company's stock, valued at approximately $2,201,785.60. This represents a 24.18% 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 corporate insiders.

Institutional Trading of MACOM Technology Solutions

Several institutional investors have recently modified their holdings of MTSI. Opal Wealth Advisors LLC acquired a new stake in shares of MACOM Technology Solutions in the first quarter valued at about $25,000. Elequin Capital LP purchased a new stake in shares of MACOM Technology Solutions during the fourth quarter worth approximately $26,000. Versant Capital Management Inc grew its holdings in shares of MACOM Technology Solutions by 9,400.0% during the first quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company's stock worth $29,000 after buying an additional 282 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of MACOM Technology Solutions in the first quarter valued at about $34,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of MACOM Technology Solutions in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 76.14% of the company's stock.

MACOM Technology Solutions Company Profile

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.