MACOM Technology Solutions (NASDAQ:MTSI) PT Lowered to $65.00 at Piper Sandler

MACOM Technology Solutions (NASDAQ:MTSIGet Rating) had its price objective lowered by research analysts at Piper Sandler from $85.00 to $65.00 in a report released on Thursday, The Fly reports. Piper Sandler’s target price points to a potential upside of 43.46% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Benchmark lowered their price target on shares of MACOM Technology Solutions from $75.00 to $65.00 in a research note on Friday, April 29th. Jefferies Financial Group upgraded shares of MACOM Technology Solutions from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Friday, April 29th. Barclays decreased their price objective on shares of MACOM Technology Solutions from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Cowen decreased their price objective on shares of MACOM Technology Solutions from $80.00 to $72.00 in a research report on Friday, April 29th. Finally, Craig Hallum decreased their price objective on shares of MACOM Technology Solutions from $95.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $75.30.

Shares of MTSI opened at $45.31 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 6.50 and a current ratio of 7.49. The stock has a market capitalization of $3.17 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.30 and a beta of 2.01. The company’s fifty day moving average is $51.55 and its two-hundred day moving average is $60.13. MACOM Technology Solutions has a 1 year low of $44.08 and a 1 year high of $80.30.

MACOM Technology Solutions (NASDAQ:MTSIGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. MACOM Technology Solutions had a net margin of 31.70% and a return on equity of 27.62%. The company had revenue of $165.15 million for the quarter, compared to analysts’ expectations of $163.14 million. During the same period in the previous year, the company posted $0.35 EPS. MACOM Technology Solutions’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that MACOM Technology Solutions will post 2.2 EPS for the current year.

In related news, CFO John Kober sold 4,182 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $52.74, for a total transaction of $220,558.68. Following the completion of the sale, the chief financial officer now owns 77,471 shares of the company’s stock, valued at approximately $4,085,820.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles R. Bland sold 6,000 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $51.06, for a total transaction of $306,360.00. Following the sale, the director now directly owns 32,257 shares of the company’s stock, valued at approximately $1,647,042.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,382 shares of company stock worth $538,793. 28.30% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in shares of MACOM Technology Solutions by 896.6% during the first quarter. The Manufacturers Life Insurance Company now owns 248,461 shares of the semiconductor company’s stock valued at $14,875,000 after purchasing an additional 223,530 shares during the period. BNP Paribas Arbitrage SA increased its stake in MACOM Technology Solutions by 64.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 20,060 shares of the semiconductor company’s stock worth $1,201,000 after purchasing an additional 7,859 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in MACOM Technology Solutions during the 1st quarter worth about $1,397,000. Goldman Sachs Group Inc. lifted its holdings in shares of MACOM Technology Solutions by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,684,015 shares of the semiconductor company’s stock valued at $100,822,000 after buying an additional 84,293 shares during the last quarter. Finally, Connacht Asset Management LP lifted its holdings in shares of MACOM Technology Solutions by 7.7% during the 1st quarter. Connacht Asset Management LP now owns 6,564 shares of the semiconductor company’s stock valued at $393,000 after buying an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 97.56% of the company’s stock.

About MACOM Technology Solutions (Get Rating)

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, the Asia Pacific, and internationally.

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