MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $115.00 at Piper Sandler

MACOM Technology Solutions (NASDAQ:MTSI) had its price target upped by Piper Sandler from $100.00 to $115.00 in a report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

MTSI has been the topic of a number of other reports. Benchmark reiterated a “buy” rating and issued a $120.00 price objective on shares of MACOM Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC increased their price target on MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays increased their target price on MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus increased their target price on MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.00.

MACOM Technology Solutions Stock Down 3.4 %

NASDAQ MTSI opened at $117.54 on Friday. The firm has a market cap of $8.49 billion, a PE ratio of 119.94, a price-to-earnings-growth ratio of 4.63 and a beta of 1.70. MACOM Technology Solutions has a one year low of $68.58 and a one year high of $122.60. The stock’s 50 day simple moving average is $107.88 and its 200 day simple moving average is $105.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 6.33.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $190.50 million for the quarter, compared to analyst estimates of $190.42 million. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. MACOM Technology Solutions’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. As a group, sell-side analysts forecast that MACOM Technology Solutions will post 1.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Robert Dennehy sold 6,915 shares of MACOM Technology Solutions stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total transaction of $701,042.70. Following the completion of the transaction, the senior vice president now owns 19,481 shares in the company, valued at approximately $1,974,983.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other MACOM Technology Solutions news, SVP Robert Dennehy sold 6,915 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total transaction of $701,042.70. Following the completion of the transaction, the senior vice president now directly owns 19,481 shares in the company, valued at $1,974,983.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen G. Daly sold 21,012 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $109.40, for a total transaction of $2,298,712.80. Following the transaction, the chief executive officer now owns 64,472 shares of the company’s stock, valued at approximately $7,053,236.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 654,861 shares of company stock worth $69,430,533. Company insiders own 22.75% of the company’s stock.

Institutional Trading of MACOM Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its stake in shares of MACOM Technology Solutions by 958.1% in the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock worth $149,214,000 after purchasing an additional 1,212,094 shares during the last quarter. Hood River Capital Management LLC boosted its position in shares of MACOM Technology Solutions by 280.5% during the second quarter. Hood River Capital Management LLC now owns 704,834 shares of the semiconductor company’s stock valued at $78,568,000 after buying an additional 519,603 shares during the last quarter. Vanguard Group Inc. increased its stake in MACOM Technology Solutions by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after buying an additional 465,759 shares during the last quarter. F M Investments LLC purchased a new stake in MACOM Technology Solutions in the 2nd quarter valued at about $18,817,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of MACOM Technology Solutions by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock valued at $132,821,000 after acquiring an additional 154,066 shares during the period. Institutional investors 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.