Evercore ISI Initiates Coverage on MACOM Technology Solutions (NASDAQ:MTSI)

Analysts at Evercore ISI began coverage on shares of MACOM Technology Solutions (NASDAQ:MTSI) in a research note issued on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $120.00 price target on the semiconductor company’s stock. Evercore ISI’s price target points to a potential upside of 24.49% from the stock’s current price.

Several other research analysts also recently weighed in on MTSI. Needham & Company LLC lifted their target price on MACOM Technology Solutions from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Barclays lifted their price target on MACOM Technology Solutions from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Piper Sandler restated a “neutral” rating and issued a $85.00 price target on shares of MACOM Technology Solutions in a research note on Thursday, January 4th. Stifel Nicolaus lifted their price target on MACOM Technology Solutions from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, TheStreet downgraded MACOM Technology Solutions from a “b” rating to a “c+” rating in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, MACOM Technology Solutions presently has an average rating of “Moderate Buy” and an average price target of $98.56.

MACOM Technology Solutions Trading Down 3.5 %

NASDAQ:MTSI opened at $96.39 on Tuesday. The stock’s 50 day moving average price is $92.74 and its 200 day moving average price is $86.75. The company has a market capitalization of $6.95 billion, a PE ratio of 92.68, a P/E/G ratio of 6.18 and a beta of 1.64. The company has a quick ratio of 5.69, a current ratio of 7.24 and a debt-to-equity ratio of 0.48. MACOM Technology Solutions has a 52-week low of $48.53 and a 52-week high of $104.90.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its earnings results on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. MACOM Technology Solutions had a return on equity of 14.85% and a net margin of 11.93%. The company had revenue of $157.15 million for the quarter, compared to the consensus estimate of $151.12 million. On average, research analysts anticipate that MACOM Technology Solutions will post 2.02 EPS for the current year.

Insiders Place Their Bets

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 2,370 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $88.88, for a total transaction of $210,645.60. Following the sale, the senior vice president now directly owns 32,827 shares in the company, valued at $2,917,663.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Donghyun Thomas Hwang sold 9,397 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $92.24, for a total value of $866,779.28. Following the sale, the senior vice president now directly owns 48,325 shares in the company, valued at $4,457,498. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert Dennehy sold 2,370 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $88.88, for a total value of $210,645.60. Following the completion of the sale, the senior vice president now owns 32,827 shares in the company, valued at $2,917,663.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 811,058 shares of company stock worth $68,674,574. 22.75% of the stock is owned by corporate insiders.

Institutional Trading of MACOM Technology Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Duality Advisers LP increased its stake in MACOM Technology Solutions by 5.9% in the fourth quarter. Duality Advisers LP now owns 2,727 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 152 shares during the last quarter. Metropolitan Life Insurance Co NY increased its stake in MACOM Technology Solutions by 5.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,115 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 153 shares during the last quarter. Mariner LLC increased its stake in MACOM Technology Solutions by 3.6% in the fourth quarter. Mariner LLC now owns 4,794 shares of the semiconductor company’s stock valued at $302,000 after purchasing an additional 168 shares during the last quarter. State of Michigan Retirement System increased its stake in MACOM Technology Solutions by 1.6% in the third quarter. State of Michigan Retirement System now owns 12,900 shares of the semiconductor company’s stock valued at $1,052,000 after purchasing an additional 200 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in MACOM Technology Solutions by 2.5% in the fourth quarter. New York State Teachers Retirement System now owns 8,226 shares of the semiconductor company’s stock valued at $765,000 after purchasing an additional 200 shares during the last quarter. 76.14% of the stock is currently owned by hedge funds and other 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.