MACOM Technology Solutions (NASDAQ:MTSI) Price Target Raised to $120.00 at Needham & Company LLC

MACOM Technology Solutions (NASDAQ:MTSI) had its target price raised by Needham & Company LLC from $110.00 to $120.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group reaffirmed a buy rating and set a $135.00 price objective (up from $100.00) on shares of MACOM Technology Solutions in a research note on Monday, May 13th. Craig Hallum lifted their target price on MACOM Technology Solutions from $95.00 to $120.00 and gave the stock a buy rating in a report on Friday, May 3rd. Benchmark upped their price target on shares of MACOM Technology Solutions from $95.00 to $115.00 and gave the company a buy rating in a report on Monday, May 6th. Barclays increased their price target on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Finally, Stifel Nicolaus increased 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 note on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $117.00.

MACOM Technology Solutions Price Performance

Shares of NASDAQ MTSI traded up $1.14 during trading on Friday, reaching $97.19. The company had a trading volume of 476,489 shares, compared to its average volume of 606,377. MACOM Technology Solutions has a 52 week low of $68.58 and a 52 week high of $118.76. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.70 and a current ratio of 8.18. The business’s 50 day moving average price is $105.94 and its 200-day moving average price is $98.39. The stock has a market cap of $7.01 billion, a PE ratio of 111.80, a PEG ratio of 5.09 and a beta of 1.69.

MACOM Technology Solutions (NASDAQ:MTSI) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The company had revenue of $190.50 million for the quarter, compared to the consensus estimate of $190.42 million. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. Analysts expect that MACOM Technology Solutions will post 1.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Donghyun Thomas Hwang sold 7,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $102.65, for a total transaction of $718,550.00. Following the completion of the transaction, the senior vice president now owns 41,325 shares in the company, valued at approximately $4,242,011.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Donghyun Thomas Hwang sold 7,000 shares of MACOM Technology Solutions stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $102.65, for a total value of $718,550.00. Following the completion of the transaction, the senior vice president now owns 41,325 shares in the company, valued at $4,242,011.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles R. Bland sold 2,500 shares of MACOM Technology Solutions stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $102.39, for a total transaction of $255,975.00. Following the completion of the transaction, the director now owns 26,439 shares of the company’s stock, valued at approximately $2,707,089.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,761 shares of company stock valued at $46,258,043. Insiders own 22.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MTSI. Opal Wealth Advisors LLC purchased a new stake in shares of MACOM Technology Solutions in the 2nd quarter worth about $39,000. Riverview Trust Co purchased a new position in shares of MACOM Technology Solutions in the first quarter worth $47,000. GAMMA Investing LLC raised its position in MACOM Technology Solutions by 153.0% in the 2nd quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock worth $52,000 after buying an additional 283 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in MACOM Technology Solutions in the 4th quarter worth approximately $69,000. Finally, Fidelis Capital Partners LLC purchased a new stake in MACOM Technology Solutions during the first quarter valued at approximately $77,000. 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.