Needham & Company LLC Reiterates “Buy” Rating for MACOM Technology Solutions (MTSI)

MACOM Technology Solutions (NASDAQ:MTSI)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $20.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 39.37% from the stock’s current price.

Several other brokerages have also recently commented on MTSI. Zacks Investment Research raised MACOM Technology Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. BidaskClub cut MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. ValuEngine cut MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Evercore ISI decreased their target price on MACOM Technology Solutions from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, January 14th. Finally, Goldman Sachs Group cut MACOM Technology Solutions from a “neutral” rating to a “sell” rating and raised their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, March 27th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.24.

Shares of NASDAQ MTSI opened at $14.35 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.63 and a current ratio of 4.93. The firm has a market capitalization of $938.93 million, a P/E ratio of 102.50, a P/E/G ratio of 10.95 and a beta of 2.35. MACOM Technology Solutions has a 52-week low of $13.07 and a 52-week high of $25.92.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its earnings results on Tuesday, February 5th. The semiconductor company reported $0.20 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.20. The business had revenue of $150.69 million for the quarter, compared to analysts’ expectations of $153.14 million. MACOM Technology Solutions had a positive return on equity of 1.78% and a negative net margin of 23.86%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. As a group, research analysts expect that MACOM Technology Solutions will post 0.08 EPS for the current fiscal year.

In related news, SVP Vivek Rajgarhia sold 3,949 shares of MACOM Technology Solutions stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $17.95, for a total transaction of $70,884.55. Following the completion of the sale, the senior vice president now owns 91,217 shares of the company’s stock, valued at $1,637,345.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Croteau sold 4,000 shares of MACOM Technology Solutions stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $17.08, for a total value of $68,320.00. Following the sale, the insider now directly owns 136,777 shares of the company’s stock, valued at approximately $2,336,151.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,492 shares of company stock valued at $186,622. 32.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTSI. Bank of New York Mellon Corp boosted its position in MACOM Technology Solutions by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 380,340 shares of the semiconductor company’s stock valued at $7,835,000 after purchasing an additional 30,447 shares during the last quarter. BlackRock Inc. boosted its position in MACOM Technology Solutions by 1.4% during the third quarter. BlackRock Inc. now owns 2,989,981 shares of the semiconductor company’s stock valued at $61,593,000 after purchasing an additional 40,241 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in MACOM Technology Solutions during the third quarter valued at $1,248,000. MetLife Investment Advisors LLC boosted its position in MACOM Technology Solutions by 55.5% during the third quarter. MetLife Investment Advisors LLC now owns 29,517 shares of the semiconductor company’s stock valued at $608,000 after purchasing an additional 10,533 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in MACOM Technology Solutions by 10.4% during the third quarter. Macquarie Group Ltd. now owns 499,363 shares of the semiconductor company’s stock valued at $10,287,000 after purchasing an additional 47,198 shares during the last quarter. 76.33% of the stock is owned by hedge funds and other institutional investors.

MACOM Technology Solutions Company Profile

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.

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Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

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