MACOM Technology Solutions (NASDAQ:MTSI) Shares Gap Down After Earnings Miss

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)’s share price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $135.73, but opened at $127.00. MACOM Technology Solutions shares last traded at $127.91, with a volume of 145,457 shares.

The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.38). MACOM Technology Solutions had a return on equity of 12.91% and a net margin of 10.53%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MTSI. Benchmark lifted their price target on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Barclays lifted their target price on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Piper Sandler upped their price target on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Finally, Northland Securities lifted their price objective on MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $128.00.

Insider Activity at MACOM Technology Solutions

In other news, SVP Ambra R. Roth sold 1,366 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $139.07, for a total transaction of $189,969.62. Following the completion of the sale, the senior vice president now owns 6,564 shares of the company’s stock, valued at $912,855.48. This represents a 17.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan Ocampo sold 1,789 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $125.00, for a total transaction of $223,625.00. Following the completion of the transaction, the director now owns 5,912,219 shares in the company, valued at $739,027,375. The trade was a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,532 shares of company stock valued at $27,902,795 over the last 90 days. Corporate insiders own 16.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in shares of MACOM Technology Solutions in the fourth quarter worth about $35,000. Smartleaf Asset Management LLC raised its holdings in shares of MACOM Technology Solutions by 97.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 280 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 138 shares in the last quarter. US Bancorp DE boosted its position in shares of MACOM Technology Solutions by 253.1% during the 4th quarter. US Bancorp DE now owns 4,806 shares of the semiconductor company’s stock valued at $624,000 after acquiring an additional 3,445 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in MACOM Technology Solutions during the fourth quarter valued at $2,194,000. Finally, Oppenheimer Asset Management Inc. lifted its position in MACOM Technology Solutions by 2.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 11,241 shares of the semiconductor company’s stock valued at $1,460,000 after purchasing an additional 320 shares during the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

MACOM Technology Solutions Stock Performance

The business’s fifty day moving average price is $136.13 and its two-hundred day moving average price is $119.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35. The stock has a market capitalization of $9.88 billion, a P/E ratio of 126.73, a P/E/G ratio of 2.32 and a beta of 1.71.

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.