MACOM Technology Solutions (NASDAQ:MTSI) Issues Q3 Earnings Guidance

MACOM Technology Solutions (NASDAQ:MTSI) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.63-$0.69 for the period, compared to the consensus estimate of $0.65. The company issued revenue guidance of $187-$193 million, compared to the consensus revenue estimate of $188.23 million.

MACOM Technology Solutions Trading Up 3.9 %

MACOM Technology Solutions stock opened at $102.85 on Friday. MACOM Technology Solutions has a one year low of $48.53 and a one year high of $104.90. The business’s fifty day moving average is $96.16 and its 200 day moving average is $88.28. The stock has a market capitalization of $7.41 billion, a PE ratio of 116.88, a price-to-earnings-growth ratio of 6.52 and a beta of 1.65. The company has a debt-to-equity ratio of 0.47, a current ratio of 7.34 and a quick ratio of 5.69.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. MACOM Technology Solutions had a net margin of 10.01% and a return on equity of 12.67%. The firm had revenue of $157.15 million for the quarter, compared to the consensus estimate of $151.12 million. On average, sell-side analysts predict that MACOM Technology Solutions will post 2.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MTSI shares. Barclays lifted their target price 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. Evercore ISI began coverage on MACOM Technology Solutions in a report on Tuesday, April 16th. They issued an outperform rating and a $120.00 price objective for the company. TheStreet cut MACOM Technology Solutions from a b rating to a c+ rating in a research report on Thursday, February 1st. Needham & Company LLC raised their target price on MACOM Technology Solutions from $100.00 to $110.00 and gave the stock a buy rating in a research report on Friday. Finally, Craig Hallum upped their price target on shares of MACOM Technology Solutions from $95.00 to $120.00 and gave the company a buy rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, MACOM Technology Solutions presently has a consensus rating of Moderate Buy and an average price target of $105.78.

Insider Transactions at MACOM Technology Solutions

In related news, SVP Robert Dennehy sold 2,210 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.79, for a total value of $185,175.90. Following the completion of the sale, the senior vice president now directly owns 35,197 shares of the company’s stock, valued at approximately $2,949,156.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other MACOM Technology Solutions news, CFO John Kober sold 12,892 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $79.95, for a total transaction of $1,030,715.40. Following the sale, the chief financial officer now directly owns 60,672 shares of the company’s stock, valued at $4,850,726.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert Dennehy sold 2,210 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $83.79, for a total value of $185,175.90. Following the completion of the transaction, the senior vice president now directly owns 35,197 shares of the company’s stock, valued at approximately $2,949,156.63. The disclosure for this sale can be found here. Insiders have sold 804,824 shares of company stock valued at $68,127,415 over the last quarter. 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.