MACOM Technology Solutions (NASDAQ:MTSI) Raised to “Buy” at Wall Street Zen

MACOM Technology Solutions (NASDAQ:MTSI) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.

MTSI has been the subject of a number of other reports. Barclays upped their price objective on shares of MACOM Technology Solutions from $125.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Bank of America upped their target price on MACOM Technology Solutions from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. Truist Financial upped their price target on shares of MACOM Technology Solutions from $136.00 to $154.00 and gave the company a “buy” rating in a report on Monday, July 7th. Stifel Nicolaus lifted their target price on MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Benchmark reissued a “buy” rating and set a $160.00 target price on shares of MACOM Technology Solutions in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.90.

MACOM Technology Solutions Price Performance

Shares of NASDAQ:MTSI opened at $140.58 on Friday. The company has a quick ratio of 2.86, a current ratio of 3.56 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $131.46 and a 200 day moving average price of $121.07. MACOM Technology Solutions has a 52 week low of $84.00 and a 52 week high of $152.50. The company has a market cap of $10.45 billion, a P/E ratio of 70.00, a PEG ratio of 2.74 and a beta of 1.43.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a positive return on equity of 13.32% and a negative net margin of 10.24%. The business had revenue of $235.89 million during the quarter, compared to the consensus estimate of $230.04 million. During the same quarter in the previous year, the company posted $0.59 EPS. The business’s revenue was up 30.2% on a year-over-year basis. Research analysts predict that MACOM Technology Solutions will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Susan Ocampo sold 104,449 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $123.98, for a total value of $12,949,587.02. Following the completion of the sale, the director owned 4,118,621 shares in the company, valued at approximately $510,626,631.58. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Kober sold 2,250 shares of MACOM Technology Solutions stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $125.65, for a total value of $282,712.50. Following the sale, the chief financial officer directly owned 47,128 shares in the company, valued at $5,921,633.20. The trade was a 4.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 454,227 shares of company stock valued at $56,118,317 in the last quarter. Insiders own 16.30% of the company’s stock.

Institutional Trading of MACOM Technology Solutions

A number of large investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of MACOM Technology Solutions during the first quarter worth approximately $25,000. Elequin Capital LP acquired a new stake in MACOM Technology Solutions during the 4th quarter valued at $26,000. Versant Capital Management Inc raised its position in MACOM Technology Solutions by 9,400.0% in the 1st quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 282 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of MACOM Technology Solutions during the first quarter worth $34,000. Finally, Allworth Financial LP grew its holdings in shares of MACOM Technology Solutions by 131.3% during the first quarter. Allworth Financial LP now owns 347 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 197 shares during the last quarter. 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.