MACOM Technology Solutions (MTSI) Shares Gap Down After Analyst Downgrade

MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) gapped down prior to trading on Thursday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $14.50, but opened at $19.21. MACOM Technology Solutions shares last traded at $18.22, with a volume of 4270020 shares changing hands.

MTSI has been the subject of several other reports. ValuEngine upgraded MACOM Technology Solutions from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Barclays lowered their price objective on MACOM Technology Solutions from $63.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, October 18th. BidaskClub lowered MACOM Technology Solutions from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Jefferies Group set a $61.00 price objective on MACOM Technology Solutions and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, lowered their price objective on MACOM Technology Solutions from $43.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.00.

In other MACOM Technology Solutions news, insider John Croteau sold 2,000 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $35.05, for a total transaction of $70,100.00. Following the transaction, the insider now directly owns 147,219 shares in the company, valued at $5,160,025.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,750 shares of company stock worth $158,518 over the last 90 days. 32.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Partners L P raised its stake in shares of MACOM Technology Solutions by 16.3% in the fourth quarter. Summit Partners L P now owns 20,251 shares of the semiconductor company’s stock valued at $659,000 after acquiring an additional 2,835 shares in the last quarter. BlackRock Inc. raised its stake in shares of MACOM Technology Solutions by 10.1% in the fourth quarter. BlackRock Inc. now owns 2,761,390 shares of the semiconductor company’s stock valued at $89,855,000 after acquiring an additional 254,288 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of MACOM Technology Solutions by 4.0% in the fourth quarter. Schroder Investment Management Group now owns 482,793 shares of the semiconductor company’s stock valued at $15,710,000 after acquiring an additional 18,673 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of MACOM Technology Solutions by 10.9% in the fourth quarter. Wells Fargo & Company MN now owns 383,481 shares of the semiconductor company’s stock valued at $12,478,000 after acquiring an additional 37,732 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of MACOM Technology Solutions by 3.5% in the fourth quarter. Swiss National Bank now owns 71,050 shares of the semiconductor company’s stock valued at $2,312,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

The firm has a market cap of $1,220.00, a P/E ratio of -7.03, a PEG ratio of 0.84 and a beta of 1.14. The company has a current ratio of 4.81, a quick ratio of 3.64 and a debt-to-equity ratio of 0.87.

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

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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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