MACOM Technology Solutions (MTSI) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of MACOM Technology Solutions (NASDAQ:MTSI) from a hold rating to a buy rating in a report released on Monday, February 4th.

A number of other equities research analysts also recently commented on the company. Barclays reduced their target price on MACOM Technology Solutions from $26.00 to $18.00 and set an equal weight rating on the stock in a research report on Tuesday, October 23rd. ValuEngine raised MACOM Technology Solutions from a hold rating to a buy rating in a research note on Thursday, November 1st. Needham & Company LLC lowered their target price on MACOM Technology Solutions from $34.00 to $27.00 and set a buy rating for the company in a research note on Wednesday, November 14th. JPMorgan Chase & Co. lowered their target price on MACOM Technology Solutions from $21.00 to $19.00 and set an underweight rating for the company in a research note on Wednesday, November 14th. Finally, Zacks Investment Research raised MACOM Technology Solutions from a strong sell rating to a hold rating in a report on Monday, November 19th. Five investment analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $20.09.

Shares of MTSI opened at $19.53 on Monday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 139.50, a price-to-earnings-growth ratio of 11.00 and a beta of 2.32. MACOM Technology Solutions has a 12 month low of $13.07 and a 12 month high of $25.92. The company has a current ratio of 4.93, a quick ratio of 3.63 and a debt-to-equity ratio of 1.05.

MACOM Technology Solutions (NASDAQ:MTSI) last released its earnings results on Tuesday, February 5th. The semiconductor company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. MACOM Technology Solutions had a positive return on equity of 1.78% and a negative net margin of 23.86%. The business had revenue of $150.69 million for the quarter, compared to the consensus estimate of $153.14 million. During the same quarter last year, the business posted $0.10 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Research analysts anticipate that MACOM Technology Solutions will post 0.09 earnings per share for the current year.

In other MACOM Technology Solutions news, insider John Croteau sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $17.08, for a total transaction of $68,320.00. Following the completion of the sale, the insider now directly owns 136,777 shares of the company’s stock, valued at approximately $2,336,151.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Vivek Rajgarhia sold 3,949 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $17.95, for a total value of $70,884.55. Following the transaction, the senior vice president now owns 91,217 shares in the company, valued at approximately $1,637,345.15. The disclosure for this sale can be found here. 32.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTSI. BlackRock Inc. grew its holdings in shares of MACOM Technology Solutions by 18.1% in the 2nd quarter. BlackRock Inc. now owns 2,949,740 shares of the semiconductor company’s stock worth $67,961,000 after acquiring an additional 451,605 shares during the period. Millennium Management LLC acquired a new stake in shares of MACOM Technology Solutions in the 2nd quarter worth approximately $3,371,000. Bank of New York Mellon Corp grew its holdings in shares of MACOM Technology Solutions by 23.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 349,893 shares of the semiconductor company’s stock worth $8,061,000 after acquiring an additional 66,627 shares during the period. First Trust Advisors LP acquired a new stake in shares of MACOM Technology Solutions in the 3rd quarter worth approximately $544,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of MACOM Technology Solutions by 36.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 157,970 shares of the semiconductor company’s stock worth $3,253,000 after acquiring an additional 42,145 shares during the period. Institutional investors and hedge funds own 83.32% of the company’s stock.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.

Featured Story: How mutual funds make money

Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

Receive News & Ratings for MACOM Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MACOM Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.