Zacks: Brokerages Anticipate MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) Will Post Quarterly Sales of $115.00 Million

Wall Street brokerages expect that MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) will report sales of $115.00 million for the current quarter, Zacks reports. Six analysts have made estimates for MACOM Technology Solutions’ earnings, with the highest sales estimate coming in at $115.00 million and the lowest estimate coming in at $114.99 million. MACOM Technology Solutions reported sales of $150.69 million in the same quarter last year, which would suggest a negative year over year growth rate of 23.7%. The company is expected to report its next earnings results on Tuesday, February 4th.

On average, analysts expect that MACOM Technology Solutions will report full year sales of $476.81 million for the current year, with estimates ranging from $470.00 million to $483.00 million. For the next financial year, analysts forecast that the company will report sales of $522.97 million, with estimates ranging from $500.30 million to $537.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for MACOM Technology Solutions.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Tuesday, November 12th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.08. MACOM Technology Solutions had a negative return on equity of 10.69% and a negative net margin of 77.29%. The company had revenue of $112.20 million for the quarter, compared to analysts’ expectations of $110.16 million. During the same period last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was down 25.8% on a year-over-year basis.

Several equities analysts have recently issued reports on the company. ValuEngine cut MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Northland Securities reiterated a “buy” rating and set a $30.00 price target (up from $22.50) on shares of MACOM Technology Solutions in a research report on Monday, November 18th. Zacks Investment Research cut MACOM Technology Solutions from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Monday, October 14th. DA Davidson lifted their price target on MACOM Technology Solutions to $24.00 in a research report on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of MACOM Technology Solutions in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.09.

Shares of MTSI stock traded down $0.11 during mid-day trading on Tuesday, hitting $26.25. 454,699 shares of the stock traded hands, compared to its average volume of 408,403. MACOM Technology Solutions has a twelve month low of $12.33 and a twelve month high of $27.16. The company’s 50-day simple moving average is $24.17 and its 200-day simple moving average is $19.97. The company has a quick ratio of 3.88, a current ratio of 5.33 and a debt-to-equity ratio of 2.18.

In other news, Director Charles R. Bland sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $26.58, for a total transaction of $79,740.00. Following the completion of the sale, the director now directly owns 42,482 shares of the company’s stock, valued at approximately $1,129,171.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 32.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new stake in shares of MACOM Technology Solutions during the 3rd quarter worth $515,000. Penserra Capital Management LLC boosted its position in shares of MACOM Technology Solutions by 25.0% in the third quarter. Penserra Capital Management LLC now owns 128,411 shares of the semiconductor company’s stock worth $2,760,000 after buying an additional 25,677 shares during the period. California State Teachers Retirement System boosted its position in shares of MACOM Technology Solutions by 2.2% in the third quarter. California State Teachers Retirement System now owns 72,276 shares of the semiconductor company’s stock worth $1,554,000 after buying an additional 1,529 shares during the period. BBVA USA Bancshares Inc. acquired a new stake in shares of MACOM Technology Solutions in the third quarter worth $204,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of MACOM Technology Solutions in the third quarter worth $91,000. 74.26% of the stock is owned by institutional investors and hedge funds.

About MACOM Technology Solutions

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.

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