MACOM Technology Solutions (NASDAQ:MTSI) Price Target Lowered to $130.00 at Bank of America

MACOM Technology Solutions (NASDAQ:MTSI) had its price target lowered by equities research analysts at Bank of America from $160.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Bank of America‘s target price points to a potential upside of 30.67% from the stock’s previous close.

Several other brokerages also recently commented on MTSI. Northland Securities upgraded MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and increased their target price for the company from $105.00 to $140.00 in a research note on Monday, February 10th. Truist Financial began coverage on shares of MACOM Technology Solutions in a report on Friday, April 11th. They set a “buy” rating and a $125.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a research note on Monday, February 10th. BNP Paribas upgraded MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Wednesday, April 9th. Finally, Northland Capmk upgraded shares of MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MACOM Technology Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $131.15.

MACOM Technology Solutions Price Performance

MTSI stock opened at $99.49 on Wednesday. The firm has a market cap of $7.40 billion, a P/E ratio of -69.09, a P/E/G ratio of 2.42 and a beta of 1.72. MACOM Technology Solutions has a 52 week low of $84.00 and a 52 week high of $152.50. The firm’s fifty day moving average is $108.57 and its 200 day moving average is $121.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.88 and a current ratio of 3.61.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.38). MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. Research analysts predict that MACOM Technology Solutions will post 2.43 earnings per share for the current year.

Insider Transactions at MACOM Technology Solutions

In other MACOM Technology Solutions news, Director Susan Ocampo sold 97,527 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $124.08, for a total transaction of $12,101,150.16. Following the transaction, the director now owns 4,689,225 shares in the company, valued at $581,839,038. The trade was a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donghyun Thomas Hwang sold 7,355 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $133.00, for a total transaction of $978,215.00. Following the transaction, the senior vice president now owns 43,657 shares in the company, valued at $5,806,381. The trade was a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 743,948 shares of company stock worth $92,210,640 in the last three months. Insiders own 16.30% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. Elequin Capital LP purchased a new position in MACOM Technology Solutions during the 4th quarter valued at about $26,000. Versant Capital Management Inc increased its holdings in MACOM Technology Solutions by 9,400.0% during the first quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 282 shares during the period. UMB Bank n.a. raised its stake in MACOM Technology Solutions by 74.3% in the fourth quarter. UMB Bank n.a. now owns 237 shares of the semiconductor company’s stock worth $31,000 after buying an additional 101 shares in the last quarter. Empowered Funds LLC purchased a new stake in MACOM Technology Solutions during the fourth quarter worth $33,000. Finally, SBI Securities Co. Ltd. bought a new stake in MACOM Technology Solutions during the 4th quarter valued at $35,000. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Company Profile

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.