MACOM Technology Solutions (NASDAQ:MTSI) Updates Q3 2024 Earnings Guidance

MACOM Technology Solutions (NASDAQ:MTSI) updated its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.630-0.690 for the period, compared to the consensus earnings per share estimate of 0.650. The company issued revenue guidance of $187.0 million-$193.0 million, compared to the consensus revenue estimate of $188.4 million.

Analysts Set New Price Targets

Several brokerages recently commented on MTSI. Barclays upped their price target on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Friday. Needham & Company LLC raised their price objective on MACOM Technology Solutions from $100.00 to $110.00 and gave the stock a buy rating in a research report on Friday. Craig Hallum raised their price target on MACOM Technology Solutions from $95.00 to $120.00 and gave the stock a buy rating in a research report on Friday. Stifel Nicolaus upped their target price on MACOM Technology Solutions from $105.00 to $115.00 and gave the company a buy rating in a research note on Thursday, April 18th. Finally, TheStreet lowered MACOM Technology Solutions from a b rating to a c+ rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, MACOM Technology Solutions currently has a consensus rating of Moderate Buy and a consensus target price of $105.78.

MACOM Technology Solutions Price Performance

MTSI stock traded up $3.36 during mid-day trading on Friday, hitting $102.34. The company had a trading volume of 268,690 shares, compared to its average volume of 519,379. The company has a quick ratio of 5.69, a current ratio of 7.24 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $95.83 and a 200 day moving average price of $88.06. MACOM Technology Solutions has a 12-month low of $48.53 and a 12-month high of $104.90. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 98.27, a P/E/G ratio of 6.30 and a beta of 1.65.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its earnings results on Thursday, February 1st. The semiconductor company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $157.15 million for the quarter, compared to analysts’ expectations of $151.12 million. MACOM Technology Solutions had a net margin of 11.93% and a return on equity of 14.85%. On average, research analysts anticipate that MACOM Technology Solutions will post 2.01 earnings per share for the current year.

Insider Activity

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 2,370 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.88, for a total transaction of $210,645.60. Following the completion of the sale, the senior vice president now directly owns 32,827 shares in the company, valued at approximately $2,917,663.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other MACOM Technology Solutions news, SVP Robert Dennehy sold 2,370 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $88.88, for a total transaction of $210,645.60. Following the sale, the senior vice president now directly owns 32,827 shares in the company, valued at $2,917,663.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 200,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $82.39, for a total value of $16,478,000.00. Following the completion of the sale, the director now directly owns 7,645,668 shares in the company, valued at approximately $629,926,586.52. The disclosure for this sale can be found here. In the last three months, insiders sold 804,824 shares of company stock worth $68,127,415. 22.75% of the stock is currently owned by company insiders.

MACOM Technology Solutions Company Profile

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, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.