Cuts MACOM Technology Solutions (MTSI) Price Target to $35.00

MACOM Technology Solutions (NASDAQ:MTSI) had its target price lowered by equities research analysts at from $43.00 to $35.00 in a research report issued to clients and investors on Wednesday, November 15th. The brokerage currently has a “hold” rating on the semiconductor company’s stock. ‘s price objective indicates a potential upside of 8.46% from the stock’s previous close.

MTSI has been the topic of a number of other reports. Zacks Investment Research cut MACOM Technology Solutions from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 19th. Barclays dropped their price target on MACOM Technology Solutions from $63.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 18th. BidaskClub cut MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group set a $61.00 price objective on MACOM Technology Solutions and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, lowered their price objective on MACOM Technology Solutions from $43.00 to $35.00 and set a “hold” rating on the stock in a research report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. MACOM Technology Solutions presently has an average rating of “Hold” and a consensus target price of $42.10.

Shares of MACOM Technology Solutions (NASDAQ:MTSI) opened at $32.27 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.81 and a quick ratio of 3.64. MACOM Technology Solutions has a 12-month low of $29.73 and a 12-month high of $65.99. The company has a market capitalization of $2,073.80, a P/E ratio of 18.98, a PEG ratio of 1.59 and a beta of 1.33.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Tuesday, November 14th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). MACOM Technology Solutions had a positive return on equity of 15.05% and a negative net margin of 24.26%. The company had revenue of $166.40 million during the quarter, compared to the consensus estimate of $171.80 million. During the same period in the prior year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. research analysts predict that MACOM Technology Solutions will post 0.95 earnings per share for the current year.

In related news, insider John Croteau sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $45.20, for a total value of $90,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 3,500 shares of company stock worth $155,980 over the last ninety days. 42.30% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP raised its stake in MACOM Technology Solutions by 20.3% during the 2nd quarter. Royce & Associates LP now owns 103,500 shares of the semiconductor company’s stock valued at $5,772,000 after buying an additional 17,500 shares during the last quarter. Amalgamated Bank purchased a new stake in MACOM Technology Solutions during the 2nd quarter valued at $293,000. TD Asset Management Inc. raised its stake in MACOM Technology Solutions by 9.2% during the 2nd quarter. TD Asset Management Inc. now owns 11,900 shares of the semiconductor company’s stock valued at $664,000 after buying an additional 1,000 shares during the last quarter. Legal & General Group Plc raised its stake in MACOM Technology Solutions by 30.3% during the 2nd quarter. Legal & General Group Plc now owns 15,044 shares of the semiconductor company’s stock valued at $839,000 after buying an additional 3,498 shares during the last quarter. Finally, AXA raised its stake in MACOM Technology Solutions by 16.7% during the 2nd quarter. AXA now owns 63,000 shares of the semiconductor company’s stock valued at $3,514,000 after buying an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 88.07% of the company’s stock.

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About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia.

Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

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