Piper Sandler Increases MACOM Technology Solutions (NASDAQ:MTSI) Price Target to $115.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price target raised by stock analysts at Piper Sandler from $100.00 to $115.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price target suggests a potential downside of 3.43% from the company’s current price.

A number of other research firms have also recently commented on MTSI. JPMorgan Chase & Co. lifted their price target on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Stifel Nicolaus increased their target price on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC raised their price target on MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and set a $120.00 price target on shares of MACOM Technology Solutions in a report on Thursday, September 12th. Finally, Barclays lifted their price target on MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

MACOM Technology Solutions Stock Performance

Shares of MACOM Technology Solutions stock traded up $2.11 during trading hours on Friday, reaching $119.09. 38,041 shares of the stock traded hands, compared to its average volume of 562,286. The company has a quick ratio of 6.33, a current ratio of 8.18 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 120.34, a P/E/G ratio of 4.33 and a beta of 1.70. The company has a 50 day moving average price of $107.35 and a 200 day moving average price of $104.85. MACOM Technology Solutions has a one year low of $68.58 and a one year high of $119.64.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) 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 net margin of 10.59% and a return on equity of 12.59%. MACOM Technology Solutions’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. On average, equities research analysts expect that MACOM Technology Solutions will post 1.89 earnings per share for the current fiscal year.

Insider Activity at MACOM Technology Solutions

In related news, CEO Stephen G. Daly sold 21,012 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $109.40, for a total transaction of $2,298,712.80. Following the sale, the chief executive officer now directly owns 64,472 shares in the company, valued at approximately $7,053,236.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Robert Dennehy sold 6,915 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total value of $701,042.70. Following the sale, the senior vice president now owns 19,481 shares of the company’s stock, valued at approximately $1,974,983.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen G. Daly sold 21,012 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $109.40, for a total value of $2,298,712.80. Following the completion of the sale, the chief executive officer now owns 64,472 shares in the company, valued at $7,053,236.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 654,861 shares of company stock worth $69,430,533. 22.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MTSI. Vanguard Group Inc. boosted its stake in MACOM Technology Solutions by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after purchasing an additional 465,759 shares in the last quarter. Sei Investments Co. increased its position in shares of MACOM Technology Solutions by 14.4% in the first quarter. Sei Investments Co. now owns 297,615 shares of the semiconductor company’s stock worth $28,464,000 after acquiring an additional 37,407 shares in the last quarter. Tidal Investments LLC lifted its position in shares of MACOM Technology Solutions by 175.1% in the first quarter. Tidal Investments LLC now owns 11,032 shares of the semiconductor company’s stock worth $1,055,000 after purchasing an additional 7,022 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in MACOM Technology Solutions by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock worth $132,821,000 after buying an additional 154,066 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its stake in shares of MACOM Technology Solutions by 44.1% during the 1st quarter. Thornburg Investment Management Inc. now owns 94,819 shares of the semiconductor company’s stock worth $9,088,000 after purchasing an additional 29,004 shares in the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

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.