MACOM Technology Solutions (NASDAQ:MTSI) Updates 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 Stock Performance

Shares of MACOM Technology Solutions stock opened at $102.85 on Friday. The stock has a market cap 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. MACOM Technology Solutions has a 12 month low of $48.53 and a 12 month high of $104.90. The company has a quick ratio of 5.69, a current ratio of 7.34 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $96.16 and a 200-day simple moving average of $88.28.

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

Analysts Set New Price Targets

A number of research analysts recently commented on MTSI shares. Needham & Company LLC boosted their price objective on shares of MACOM Technology Solutions from $100.00 to $110.00 and gave the company a buy rating in a research report on Friday. TheStreet cut shares of MACOM Technology Solutions from a b rating to a c+ rating in a report on Thursday, February 1st. Craig Hallum increased their price objective on MACOM Technology Solutions from $95.00 to $120.00 and gave the stock a buy rating in a report on Friday. Evercore ISI began coverage on MACOM Technology Solutions in a research report on Tuesday, April 16th. They set an outperform rating and a $120.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on MACOM Technology Solutions from $105.00 to $115.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, MACOM Technology Solutions currently has an average rating of Moderate Buy and an average price target of $105.78.

Insider Activity at MACOM Technology Solutions

In other news, SVP Donghyun Thomas Hwang sold 9,397 shares of MACOM Technology Solutions stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $92.24, for a total value of $866,779.28. Following the transaction, the senior vice president now directly owns 48,325 shares in the company, valued at $4,457,498. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Donghyun Thomas Hwang sold 9,397 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $92.24, for a total transaction of $866,779.28. Following the completion of the transaction, the senior vice president now directly owns 48,325 shares in the company, valued at $4,457,498. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert Dennehy sold 2,370 shares of the firm’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 completion of the sale, the senior vice president now owns 32,827 shares in the company, valued at approximately $2,917,663.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 804,824 shares of company stock worth $68,127,415. 22.75% of the stock is owned by insiders.

About MACOM Technology Solutions

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.