MACOM Technology Solutions (MTSI) Given New $32.00 Price Target at DA Davidson

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective cut by DA Davidson from $43.00 to $32.00 in a research note published on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.

MTSI has been the topic of several other research reports. ValuEngine raised shares of MACOM Technology Solutions from a hold rating to a buy rating in a research note on Sunday, December 31st. Zacks Investment Research lowered shares of MACOM Technology Solutions from a hold rating to a strong sell rating in a research note on Thursday, October 19th. Barclays dropped their price objective on shares of MACOM Technology Solutions from $63.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, October 18th. BidaskClub lowered shares of MACOM Technology Solutions from a hold rating to a sell rating in a research note on Tuesday, January 30th. Finally, Jefferies Group set a $61.00 price objective on shares of MACOM Technology Solutions and gave the stock a buy rating in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. MACOM Technology Solutions has an average rating of Hold and an average target price of $38.00.

Shares of MACOM Technology Solutions (MTSI) opened at $19.21 on Wednesday. MACOM Technology Solutions has a 52 week low of $18.86 and a 52 week high of $65.99. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.64 and a current ratio of 4.81. The company has a market cap of $1,955.24, a PE ratio of -5.46, a P/E/G ratio of 1.32 and a beta of 1.14.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.03). MACOM Technology Solutions had a positive return on equity of 10.29% and a negative net margin of 28.19%. The business had revenue of $130.93 million for the quarter, compared to the consensus estimate of $132.91 million. During the same period in the previous year, the firm earned $0.57 EPS. The company’s revenue was down 13.7% on a year-over-year basis. analysts expect that MACOM Technology Solutions will post 1.04 EPS for the current fiscal year.

In other news, CEO John Croteau sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $31.94, for a total value of $63,880.00. Following the transaction, the chief executive officer now owns 149,219 shares in the company, valued at $4,766,054.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 4,750 shares of company stock worth $158,518. Insiders own 32.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of MACOM Technology Solutions by 122.6% during the third quarter. Ameriprise Financial Inc. now owns 6,277,406 shares of the semiconductor company’s stock valued at $280,034,000 after purchasing an additional 3,457,245 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of MACOM Technology Solutions by 8.5% during the second quarter. Vanguard Group Inc. now owns 3,444,631 shares of the semiconductor company’s stock valued at $192,107,000 after purchasing an additional 269,836 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of MACOM Technology Solutions by 60.6% during the third quarter. Frontier Capital Management Co. LLC now owns 3,401,434 shares of the semiconductor company’s stock valued at $151,738,000 after purchasing an additional 1,283,603 shares during the last quarter. BlackRock Inc. raised its holdings in shares of MACOM Technology Solutions by 16.7% during the second quarter. BlackRock Inc. now owns 2,394,921 shares of the semiconductor company’s stock valued at $133,565,000 after purchasing an additional 342,102 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of MACOM Technology Solutions by 3.2% during the third quarter. Jennison Associates LLC now owns 2,140,833 shares of the semiconductor company’s stock valued at $95,503,000 after purchasing an additional 65,664 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

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About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia.

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