MACOM Technology Solutions (NASDAQ:MTSI) Reaches New 12-Month High – Here’s What Happened

by · The Markets Daily

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI – Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $156.35 and last traded at $160.5950, with a volume of 35197 shares changing hands. The stock had previously closed at $149.68.

Wall Street Analysts Forecast Growth

MTSI has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Zacks Research upgraded MACOM Technology Solutions from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Wall Street Zen upgraded MACOM Technology Solutions from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Weiss Ratings restated a “sell (d+)” rating on shares of MACOM Technology Solutions in a research note on Wednesday, October 8th. Finally, TD Cowen began coverage on MACOM Technology Solutions in a research note on Wednesday, October 1st. They set a “buy” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MACOM Technology Solutions presently has an average rating of “Moderate Buy” and an average price target of $150.50.

Check Out Our Latest Stock Report on MACOM Technology Solutions

MACOM Technology Solutions Trading Up 6.9%

The company has a 50-day simple moving average of $133.89 and a 200-day simple moving average of $129.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.10 and a current ratio of 3.83. The stock has a market cap of $11.92 billion, a P/E ratio of -158.35, a P/E/G ratio of 2.26 and a beta of 1.52.

MACOM Technology Solutions (NASDAQ:MTSI – Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $252.08 million during the quarter, compared to the consensus estimate of $249.89 million. MACOM Technology Solutions had a positive return on equity of 14.02% and a negative net margin of 7.71%.The firm’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, sell-side analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at MACOM Technology Solutions

In other news, major shareholder Susan Ocampo sold 150,424 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $132.43, for a total transaction of $19,920,650.32. Following the completion of the transaction, the insider directly owned 3,584,621 shares of the company’s stock, valued at $474,711,359.03. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,553,712 shares of company stock worth $211,008,498 over the last ninety days. 16.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its stake in shares of MACOM Technology Solutions by 174.0% during the second quarter. Hantz Financial Services Inc. now owns 211 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 134 shares during the period. SVB Wealth LLC acquired a new stake in MACOM Technology Solutions during the first quarter worth approximately $34,000. Smartleaf Asset Management LLC boosted its holdings in shares of MACOM Technology Solutions by 108.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 288 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 150 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of MACOM Technology Solutions by 131.3% in the 1st quarter. Allworth Financial LP now owns 347 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 197 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of MACOM Technology Solutions by 282.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 325 shares of the semiconductor company’s stock valued at $40,000 after purchasing an additional 240 shares in the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

About MACOM Technology Solutions

(Get Free Report)

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.

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