MACOM Technology Solutions (NASDAQ:MTSI) Posts Earnings Results, Beats Estimates By $0.13 EPS

MACOM Technology Solutions (NASDAQ:MTSI) announced its quarterly earnings results on Thursday. The semiconductor company reported ($0.42) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.13, Briefing.com reports. The business had revenue of $108.30 million during the quarter, compared to the consensus estimate of $108.20 million. MACOM Technology Solutions had a negative net margin of 30.19% and a negative return on equity of 1.98%. The business’s revenue was down 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 EPS. MACOM Technology Solutions updated its Q4 2019 guidance to $-0.04-0.00 EPS and its Q4 guidance to ($0.06)-$0.00 EPS.

NASDAQ:MTSI traded down $0.28 during mid-day trading on Friday, hitting $19.40. 2,495,304 shares of the company’s stock traded hands, compared to its average volume of 858,546. The company has a current ratio of 5.01, a quick ratio of 3.66 and a debt-to-equity ratio of 1.11. The business has a 50 day simple moving average of $16.26. MACOM Technology Solutions has a 1 year low of $12.33 and a 1 year high of $24.11. The stock has a market capitalization of $1.29 billion, a P/E ratio of 138.57 and a beta of 1.94.

In other news, Chairman John L. Ocampo purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $13.30 per share, with a total value of $1,330,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman John L. Ocampo purchased 60,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $13.26 per share, for a total transaction of $795,600.00. The disclosure for this purchase can be found here. Company insiders own 32.40% of the company’s stock.

A number of brokerages have recently issued reports on MTSI. Evercore ISI downgraded shares of MACOM Technology Solutions from an “outperform” rating to an “inline” rating in a report on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price target (down previously from $20.00) on shares of MACOM Technology Solutions in a report on Wednesday, June 19th. Barclays reiterated a “hold” rating and issued a $14.00 price target on shares of MACOM Technology Solutions in a report on Thursday, June 20th. DA Davidson set a $14.00 price target on shares of MACOM Technology Solutions and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, Jefferies Financial Group downgraded shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating and dropped their target price for the company from $18.00 to $15.00 in a report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. MACOM Technology Solutions has a consensus rating of “Hold” and an average target price of $17.95.

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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Earnings History for MACOM Technology Solutions (NASDAQ:MTSI)

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