MACOM Technology Solutions (NASDAQ:MTSI) Reaches New 1-Year High After Analyst Upgrade

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) reached a new 52-week high during trading on Friday after Piper Sandler raised their price target on the stock from $100.00 to $115.00. Piper Sandler currently has a neutral rating on the stock. MACOM Technology Solutions traded as high as $119.64 and last traded at $119.09, with a volume of 38041 shares trading hands. The stock had previously closed at $116.98.

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

Insider Activity

In related news, Director Susan Ocampo sold 305,395 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $32,518,459.60. Following the completion of the transaction, the director now directly owns 6,550,889 shares of the company’s stock, valued at approximately $697,538,660.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Susan Ocampo sold 305,395 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $32,518,459.60. Following the sale, the director now directly owns 6,550,889 shares of the company’s stock, valued at approximately $697,538,660.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Donghyun Thomas Hwang sold 4,375 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $104.57, for a total transaction of $457,493.75. Following the sale, the senior vice president now directly owns 37,148 shares in the company, valued at $3,884,566.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 654,861 shares of company stock valued at $69,430,533 over the last quarter. Company insiders own 22.75% of the company’s stock.

Institutional Investors Weigh In On MACOM Technology Solutions

Several large investors have recently added to or reduced their stakes in MTSI. Opal Wealth Advisors LLC bought a new position in MACOM Technology Solutions in the 2nd quarter worth about $39,000. GAMMA Investing LLC raised its stake in MACOM Technology Solutions by 153.0% in the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 283 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in MACOM Technology Solutions during the third quarter valued at approximately $66,000. Fidelis Capital Partners LLC purchased a new position in MACOM Technology Solutions in the 1st quarter worth approximately $77,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of MACOM Technology Solutions during the 2nd quarter valued at $78,000. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Performance

The company’s 50-day moving average price is $107.35 and its two-hundred day moving average price is $104.85. The stock has a market cap of $8.60 billion, a PE ratio of 120.34, a PEG ratio of 4.33 and a beta of 1.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 8.18.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $190.42 million. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $0.42 earnings per share. On average, equities research analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 1.89 EPS for the current year.

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.