MACOM Technology Solutions (NASDAQ:MTSI) Shares Gap Down on Disappointing Earnings

Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $135.73, but opened at $127.00. MACOM Technology Solutions shares last traded at $127.91, with a volume of 145,457 shares changing hands.

The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.38). MACOM Technology Solutions had a net margin of 10.53% and a return on equity of 12.91%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Northland Securities raised their price objective on shares of MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Barclays boosted their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Benchmark raised their price target on MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, MACOM Technology Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $128.00.

Insiders Place Their Bets

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 2,539 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $120.80, for a total transaction of $306,711.20. Following the completion of the sale, the senior vice president now directly owns 31,206 shares of the company’s stock, valued at approximately $3,769,684.80. The trade was a 7.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 25,351 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $130.05, for a total transaction of $3,296,897.55. Following the completion of the transaction, the director now directly owns 6,046,676 shares in the company, valued at $786,370,213.80. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,532 shares of company stock valued at $27,902,795. 16.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MACOM Technology Solutions

Several institutional investors and hedge funds have recently made changes to their positions in MTSI. Westfield Capital Management Co. LP grew its stake in shares of MACOM Technology Solutions by 21.0% during the third quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock worth $134,686,000 after purchasing an additional 210,151 shares during the period. Geode Capital Management LLC lifted its stake in MACOM Technology Solutions by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,015,781 shares of the semiconductor company’s stock valued at $113,044,000 after buying an additional 46,812 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in MACOM Technology Solutions by 18.4% during the third quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after buying an additional 116,090 shares during the last quarter. Jennison Associates LLC grew its position in shares of MACOM Technology Solutions by 0.5% during the 4th quarter. Jennison Associates LLC now owns 532,463 shares of the semiconductor company’s stock worth $69,172,000 after buying an additional 2,646 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of MACOM Technology Solutions by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 532,342 shares of the semiconductor company’s stock valued at $69,157,000 after acquiring an additional 1,719 shares during the last quarter. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Down 4.6 %

The business’s 50-day moving average is $136.08 and its two-hundred day moving average is $119.68. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 125.73, a P/E/G ratio of 2.32 and a beta of 1.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35.

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.