MACOM Technology Solutions (NASDAQ:MTSI) Stock Rating Reaffirmed by Benchmark

MACOM Technology Solutions (NASDAQ:MTSI)‘s stock had its “buy” rating restated by research analysts at Benchmark in a report issued on Thursday, Benzinga reports. They currently have a $120.00 price objective on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 18.37% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus lifted their price target on MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays lifted their target price on MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC lifted their target price on MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

MACOM Technology Solutions Stock Up 5.0 %

MTSI opened at $101.38 on Thursday. MACOM Technology Solutions has a 12 month low of $68.58 and a 12 month high of $118.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 6.33. The stock has a market cap of $7.31 billion, a P/E ratio of 115.20, a P/E/G ratio of 4.88 and a beta of 1.70. The stock’s 50 day moving average price is $104.54 and its 200 day moving average price is $101.50.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. The firm had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $190.42 million. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that MACOM Technology Solutions will post 1.89 earnings per share for the current year.

Insider Activity at MACOM Technology Solutions

In related news, Director Susan Ocampo sold 305,395 shares of MACOM Technology Solutions stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $32,518,459.60. Following the completion of the sale, the director now owns 6,550,889 shares of the company’s stock, valued at $697,538,660.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other MACOM Technology Solutions news, Director Susan Ocampo sold 305,395 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $32,518,459.60. Following the transaction, the director now directly owns 6,550,889 shares in the company, valued at $697,538,660.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Donghyun Thomas Hwang sold 4,375 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $104.57, for a total value of $457,493.75. Following the transaction, the senior vice president now owns 37,148 shares in the company, valued at $3,884,566.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 652,946 shares of company stock valued at $69,260,741. Insiders own 22.75% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in MACOM Technology Solutions by 8.1% during the first quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after buying an additional 465,759 shares in the last quarter. Norges Bank bought a new position in MACOM Technology Solutions during the fourth quarter valued at about $44,250,000. G2 Investment Partners Management LLC bought a new position in MACOM Technology Solutions during the fourth quarter valued at about $2,198,000. Price T Rowe Associates Inc. MD increased its stake in MACOM Technology Solutions by 1,533.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,234,684 shares of the semiconductor company’s stock valued at $114,765,000 after acquiring an additional 1,159,076 shares during the period. Finally, Sei Investments Co. increased its stake in MACOM Technology Solutions by 14.4% during the first quarter. Sei Investments Co. now owns 297,615 shares of the semiconductor company’s stock valued at $28,464,000 after acquiring an additional 37,407 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.