MACOM Technology Solutions (NASDAQ:MTSI) Upgraded by Piper Jaffray Companies to Overweight

Piper Jaffray Companies upgraded shares of MACOM Technology Solutions (NASDAQ:MTSI) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have $21.00 price target on the semiconductor company’s stock, up from their prior price target of $14.00. Piper Jaffray Companies also issued estimates for MACOM Technology Solutions’ Q4 2019 earnings at ($0.22) EPS and FY2019 earnings at ($0.99) EPS.

MTSI has been the subject of several other reports. Barclays reaffirmed a hold rating and set a $14.00 price objective on shares of MACOM Technology Solutions in a report on Thursday, June 20th. Northland Securities set a $68.00 price objective on shares of Lumentum and gave the stock a buy rating in a report on Monday, May 20th. Needham & Company LLC set a $69.00 price objective on shares of Genomic Health and gave the stock a buy rating in a report on Wednesday, June 19th. Goldman Sachs Group upped their price objective on shares of Western Digital from $42.00 to $49.00 and gave the stock a neutral rating in a report on Wednesday, March 27th. Finally, Evercore ISI downgraded shares of MACOM Technology Solutions from an outperform rating to an inline rating in a report on Thursday, April 25th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $18.07.

MTSI stock opened at $17.59 on Wednesday. The company has a quick ratio of 3.66, a current ratio of 5.01 and a debt-to-equity ratio of 1.11. MACOM Technology Solutions has a 12 month low of $12.33 and a 12 month high of $24.59. The business has a 50 day simple moving average of $15.12.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. The business had revenue of $128.47 million during the quarter, compared to the consensus estimate of $121.06 million. MACOM Technology Solutions had a negative net margin of 30.19% and a negative return on equity of 1.98%. MACOM Technology Solutions’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. On average, equities research analysts predict that MACOM Technology Solutions will post -0.9 EPS for the current fiscal year.

In other news, Chairman John L. Ocampo bought 100,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average cost of $13.30 per share, for a total transaction of $1,330,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John L. Ocampo bought 60,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $13.26 per share, for a total transaction of $795,600.00. The disclosure for this purchase can be found here. 32.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp purchased a new stake in MACOM Technology Solutions in the 1st quarter valued at $2,423,000. Private Advisors LLC increased its position in shares of MACOM Technology Solutions by 91.0% during the 1st quarter. Private Advisors LLC now owns 47,358 shares of the semiconductor company’s stock valued at $791,000 after purchasing an additional 22,566 shares during the last quarter. S Squared Technology LLC purchased a new stake in shares of MACOM Technology Solutions during the 1st quarter valued at $3,175,000. White Pine Capital LLC increased its position in shares of MACOM Technology Solutions by 177.7% during the 1st quarter. White Pine Capital LLC now owns 55,505 shares of the semiconductor company’s stock valued at $927,000 after purchasing an additional 35,520 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of MACOM Technology Solutions by 10.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,551,959 shares of the semiconductor company’s stock valued at $25,928,000 after purchasing an additional 149,536 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

MACOM Technology Solutions Company Profile

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.

Further Reading: Quiet Period

Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

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