MACOM Technology Solutions (NASDAQ:MTSI) Upgraded to “Strong-Buy” by ValuEngine

ValuEngine upgraded shares of MACOM Technology Solutions (NASDAQ:MTSI) from a buy rating to a strong-buy rating in a research report released on Thursday morning, ValuEngine reports.

A number of other equities research analysts also recently weighed in on MTSI. Zacks Investment Research downgraded MACOM Technology Solutions from a hold rating to a sell rating in a research note on Tuesday, April 16th. Barclays reaffirmed a hold rating and set a $14.00 price target on shares of MACOM Technology Solutions in a research note on Thursday, June 20th. Evercore ISI downgraded MACOM Technology Solutions from an outperform rating to an inline rating in a research note on Thursday, April 25th. Northland Securities set a $23.00 price target on MACOM Technology Solutions and gave the stock a buy rating in a research note on Monday, May 20th. Finally, BidaskClub raised MACOM Technology Solutions from a sell rating to a hold rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. MACOM Technology Solutions has an average rating of Hold and an average price target of $17.95.

MACOM Technology Solutions stock traded down $0.28 during mid-day trading on Thursday, hitting $19.40. The company’s stock had a trading volume of 2,495,304 shares, compared to its average volume of 858,546. The stock’s 50 day moving average is $16.26. The firm has a market cap of $1.29 billion, a P/E ratio of 138.57 and a beta of 1.94. The company has a current ratio of 5.01, a quick ratio of 3.66 and a debt-to-equity ratio of 1.11. MACOM Technology Solutions has a 52-week low of $12.33 and a 52-week high of $24.11.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.13. The firm had revenue of $108.30 million during the quarter, compared to the consensus estimate of $108.20 million. MACOM Technology Solutions had a negative return on equity of 1.98% and a negative net margin of 30.19%. The business’s revenue for the quarter was down 21.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. As a group, equities analysts forecast that MACOM Technology Solutions will post -1 earnings per share for the current fiscal year.

In related news, Chairman John L. Ocampo acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $13.30 per share, with a total value of $1,330,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman John L. Ocampo acquired 60,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was bought 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. 32.40% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Pearl River Capital LLC raised its stake in shares of MACOM Technology Solutions by 495.0% in the 1st quarter. Pearl River Capital LLC now owns 2,600 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 2,163 shares in the last quarter. Aperio Group LLC bought a new position in shares of MACOM Technology Solutions in the 2nd quarter valued at approximately $49,000. Quantamental Technologies LLC bought a new position in shares of MACOM Technology Solutions in the 1st quarter valued at approximately $80,000. FNY Investment Advisers LLC bought a new position in shares of MACOM Technology Solutions in the 1st quarter valued at approximately $125,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of MACOM Technology Solutions by 148.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 10,771 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 6,431 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.

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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