MACOM Technology Solutions (MTSI) Upgraded to “Buy” by Craig Hallum

MACOM Technology Solutions (NASDAQ:MTSI) was upgraded by stock analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has a $25.00 price objective on the semiconductor company’s stock. Craig Hallum’s target price would indicate a potential upside of 98.41% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of MACOM Technology Solutions in a report on Thursday, April 25th. DA Davidson downgraded shares of MACOM Technology Solutions from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $16.00 in a research note on Thursday, April 25th. Zacks Investment Research downgraded shares of MACOM Technology Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Northland Securities reissued a “buy” rating and set a $25.00 target price on shares of MACOM Technology Solutions in a research note on Friday, April 12th. Finally, Jefferies Financial Group downgraded shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating and cut their target price for the company from $18.00 to $15.00 in a research note on Wednesday, April 24th. Six investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. MACOM Technology Solutions currently has an average rating of “Hold” and a consensus price target of $18.74.

MTSI opened at $12.60 on Wednesday. The company has a market capitalization of $862.49 million, a price-to-earnings ratio of 90.00 and a beta of 2.22. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.93 and a quick ratio of 3.63. MACOM Technology Solutions has a 1-year low of $12.33 and a 1-year high of $25.92.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. The company had revenue of $128.47 million for the quarter, compared to analysts’ expectations of $121.06 million. MACOM Technology Solutions had a positive return on equity of 1.78% and a negative net margin of 23.86%. The firm’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. On average, analysts predict that MACOM Technology Solutions will post -0.42 EPS for the current fiscal year.

In other MACOM Technology Solutions news, insider John Croteau sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $17.08, for a total transaction of $68,320.00. Following the completion of the sale, the insider now directly owns 136,777 shares in the company, valued at $2,336,151.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vivek Rajgarhia sold 1,782 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $18.41, for a total transaction of $32,806.62. Following the sale, the senior vice president now owns 89,435 shares of the company’s stock, valued at $1,646,498.35. The disclosure for this sale can be found here. Insiders sold 10,492 shares of company stock valued at $186,622 over the last quarter. 32.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates bought a new stake in MACOM Technology Solutions during the first quarter valued at about $175,000. Victory Capital Management Inc. acquired a new position in shares of MACOM Technology Solutions during the first quarter valued at about $2,170,000. Teton Advisors Inc. acquired a new position in shares of MACOM Technology Solutions during the first quarter valued at about $346,000. Pearl River Capital LLC raised its position in shares of MACOM Technology Solutions by 495.0% during the first quarter. Pearl River Capital LLC now owns 2,600 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 2,163 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of MACOM Technology Solutions by 12.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 640,000 shares of the semiconductor company’s stock valued at $10,694,000 after buying an additional 70,000 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

About MACOM Technology Solutions

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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