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

MACOM Technology Solutions (NASDAQ:MTSI) had its target price boosted by research analysts at Piper Sandler from $100.00 to $115.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price objective would indicate a potential downside of 5.51% from the stock’s current price.

Several other brokerages also recently commented on MTSI. 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 note on Friday, August 2nd. Stifel Nicolaus raised their price objective on MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Benchmark reiterated a “buy” rating and issued a $120.00 target price on shares of MACOM Technology Solutions in a report on Thursday, September 12th. Barclays boosted their price target on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC raised their price objective on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, MACOM Technology Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

MACOM Technology Solutions Trading Up 4.0 %

Shares of MTSI stock opened at $121.70 on Friday. MACOM Technology Solutions has a fifty-two week low of $68.58 and a fifty-two week high of $121.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 8.18. The stock has a 50 day simple moving average of $107.66 and a two-hundred day simple moving average of $105.00. The company has a market cap of $8.79 billion, a P/E ratio of 124.18, a PEG ratio of 4.33 and a beta of 1.70.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $190.50 million during the quarter, compared to analyst estimates of $190.42 million. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. MACOM Technology Solutions’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Research analysts forecast that MACOM Technology Solutions will post 1.89 earnings per share for the current year.

Insider Activity

In related news, Director Susan Ocampo sold 95,743 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the transaction, the director now directly owns 6,876,284 shares in the company, valued at approximately $709,494,983.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Susan Ocampo sold 95,743 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $103.18, for a total value of $9,878,762.74. Following the transaction, the director now owns 6,876,284 shares in the company, valued at $709,494,983.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert Dennehy sold 6,683 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $106.78, for a total value of $713,610.74. Following the completion of the transaction, the senior vice president now directly owns 26,396 shares of the company’s stock, valued at approximately $2,818,564.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 654,861 shares of company stock worth $69,430,533 over the last quarter. Insiders own 22.75% of the company’s stock.

Institutional Investors Weigh In On MACOM Technology Solutions

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC grew its position in MACOM Technology Solutions by 958.1% during the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock valued at $149,214,000 after buying an additional 1,212,094 shares during the period. Hood River Capital Management LLC boosted its stake in MACOM Technology Solutions by 280.5% in 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 acquiring an additional 519,603 shares during the last quarter. Vanguard Group Inc. grew its position in shares of MACOM Technology Solutions by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after acquiring an additional 465,759 shares during the period. F M Investments LLC purchased a new stake in shares of MACOM Technology Solutions during the 2nd quarter worth approximately $18,817,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of MACOM Technology Solutions by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock worth $132,821,000 after purchasing an additional 154,066 shares during the period. 76.14% of the stock is currently owned by institutional investors.

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.