Benchmark Reiterates Buy Rating for MACOM Technology Solutions (NASDAQ:MTSI)

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

A number of other equities research analysts have also recently weighed in on the company. Stifel Nicolaus raised their price target on MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their target price on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays upped their price target on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC increased their price objective on shares of 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. According to data from MarketBeat.com, MACOM Technology Solutions has a consensus rating of “Moderate Buy” and an average price target of $117.00.

MACOM Technology Solutions Stock Up 5.0 %

NASDAQ MTSI opened at $101.38 on Thursday. The company has a current ratio of 8.18, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $104.54 and its two-hundred day moving average is $101.50. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 115.20, a PEG ratio of 4.88 and a beta of 1.70. MACOM Technology Solutions has a 1-year low of $68.58 and a 1-year high of $118.76.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share 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 return on equity of 12.59% and a net margin of 10.59%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. Equities analysts forecast that MACOM Technology Solutions will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Susan Ocampo sold 95,743 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total value of $9,878,762.74. Following the transaction, the director now owns 6,876,284 shares of the company’s stock, valued at approximately $709,494,983.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Donghyun Thomas Hwang sold 5,000 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $106.25, for a total transaction of $531,250.00. Following the transaction, the senior vice president now owns 41,523 shares of the company’s stock, valued at approximately $4,411,818.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Ocampo sold 95,743 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the transaction, the director now directly owns 6,876,284 shares in the company, valued at approximately $709,494,983.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 652,946 shares of company stock valued at $69,260,741. 22.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in MACOM Technology Solutions by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 448,448 shares of the semiconductor company’s stock worth $41,683,000 after buying an additional 7,967 shares during the period. Principal Financial Group Inc. raised its holdings in MACOM Technology Solutions by 4.6% during the 4th quarter. Principal Financial Group Inc. now owns 517,283 shares of the semiconductor company’s stock worth $48,081,000 after buying an additional 22,662 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in MACOM Technology Solutions by 9.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 7,195 shares of the semiconductor company’s stock worth $669,000 after buying an additional 611 shares during the period. Inceptionr LLC acquired a new stake in MACOM Technology Solutions during the 4th quarter worth approximately $359,000. Finally, Norges Bank acquired a new stake in MACOM Technology Solutions during the 4th quarter worth approximately $44,250,000. 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.