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

MACOM Technology Solutions (NASDAQ:MTSI) had its price target lifted by Piper Sandler from $100.00 to $115.00 in a research report sent to investors on Friday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

A number of other research analysts have also issued reports on MTSI. Needham & Company LLC boosted their price objective on MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Benchmark restated a “buy” rating and set a $120.00 price target on shares of MACOM Technology Solutions in a research report on Thursday, September 12th. Stifel Nicolaus lifted their price objective 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. Barclays upped their target price on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

MACOM Technology Solutions Stock Performance

MTSI stock opened at $121.70 on Friday. The stock’s 50 day simple moving average is $107.66 and its 200 day simple moving average is $105.04. MACOM Technology Solutions has a 12-month low of $68.58 and a 12-month high of $121.86. The firm has a market cap of $8.78 billion, a P/E ratio of 138.30, a P/E/G ratio of 4.33 and a beta of 1.70. The company has a current ratio of 8.18, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45.

MACOM Technology Solutions (NASDAQ:MTSI) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The firm had revenue of $190.50 million during the quarter, compared to analyst estimates of $190.42 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that MACOM Technology Solutions will post 1.89 EPS for the current year.

Insider Buying and Selling

In other MACOM Technology Solutions news, Director Susan Ocampo sold 95,743 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the completion of the transaction, the director now directly owns 6,876,284 shares of the company’s stock, valued at approximately $709,494,983.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other MACOM Technology Solutions news, SVP Robert Dennehy sold 6,915 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total value of $701,042.70. Following the completion of the sale, the senior vice president now directly owns 19,481 shares of the company’s stock, valued at approximately $1,974,983.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Ocampo sold 95,743 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total transaction of $9,878,762.74. Following the transaction, the director now owns 6,876,284 shares of the company’s stock, valued at approximately $709,494,983.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 654,861 shares of company stock valued at $69,430,533 over the last quarter. Corporate insiders own 22.75% of the company’s stock.

Institutional Trading of MACOM Technology Solutions

A number of large investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new position in shares of MACOM Technology Solutions in the second quarter valued at $39,000. GAMMA Investing LLC raised its position in shares of MACOM Technology Solutions by 153.0% during the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 283 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of MACOM Technology Solutions during the third quarter valued at $66,000. Fidelis Capital Partners LLC acquired a new position in shares of MACOM Technology Solutions in the 1st quarter valued at $77,000. Finally, FSC Wealth Advisors LLC purchased a new position in MACOM Technology Solutions in the 2nd quarter worth about $78,000. 76.14% of the stock is currently owned by institutional investors.

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.