Craig Hallum Boosts MACOM Technology Solutions (NASDAQ:MTSI) Price Target to $120.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price target hoisted by Craig Hallum from $95.00 to $120.00 in a report released on Friday, Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

Several other research analysts also recently commented on the stock. Stifel Nicolaus raised their price target on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the company a buy rating in a report on Thursday, April 18th. Evercore ISI assumed coverage on shares of MACOM Technology Solutions in a report on Tuesday, April 16th. They issued an outperform rating and a $120.00 price target for the company. Needham & Company LLC raised their price target on shares of MACOM Technology Solutions from $100.00 to $110.00 and gave the company a buy rating in a report on Friday. TheStreet cut shares of MACOM Technology Solutions from a b rating to a c+ rating in a research report on Thursday, February 1st. Finally, Barclays raised their price objective on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the company an overweight rating in a research report on Friday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, MACOM Technology Solutions has a consensus rating of Moderate Buy and a consensus price target of $108.33.

MACOM Technology Solutions Stock Performance

MTSI traded up $0.66 on Friday, hitting $103.51. The company’s stock had a trading volume of 695,695 shares, compared to its average volume of 525,780. The company’s 50 day simple moving average is $96.16 and its 200-day simple moving average is $88.35. The firm has a market cap of $7.46 billion, a P/E ratio of 117.24, a price-to-earnings-growth ratio of 7.99 and a beta of 1.65. MACOM Technology Solutions has a 12 month low of $53.04 and a 12 month high of $107.00. The company has a quick ratio of 5.70, a current ratio of 7.34 and a debt-to-equity ratio of 0.47.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.43 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $151.12 million. Analysts forecast that MACOM Technology Solutions will post 2.02 EPS for the current year.

Insider Buying and Selling

In related news, CFO John Kober sold 12,892 shares of MACOM Technology Solutions stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $79.95, for a total value of $1,030,715.40. Following the transaction, the chief financial officer now owns 60,672 shares in the company, valued at approximately $4,850,726.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 9,397 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $92.24, for a total value of $866,779.28. Following the transaction, the senior vice president now 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 through this hyperlink. Also, CFO John Kober sold 12,892 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $79.95, for a total transaction of $1,030,715.40. Following the completion of the transaction, the chief financial officer now owns 60,672 shares in the company, valued at approximately $4,850,726.40. The disclosure for this sale can be found here. Insiders have sold a total of 804,824 shares of company stock worth $68,127,415 in the last 90 days. 22.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

A number of hedge funds have recently modified their holdings of MTSI. Price T Rowe Associates Inc. MD increased its position in shares of MACOM Technology Solutions by 1,533.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,234,684 shares of the semiconductor company’s stock valued at $114,765,000 after acquiring an additional 1,159,076 shares during the period. Norges Bank bought a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $44,250,000. Westfield Capital Management Co. LP bought a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $42,762,000. Principal Financial Group Inc. boosted its stake in shares of MACOM Technology Solutions by 139.9% during the 3rd quarter. Principal Financial Group Inc. now owns 494,621 shares of the semiconductor company’s stock valued at $40,351,000 after purchasing an additional 288,408 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of MACOM Technology Solutions by 29.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,128,382 shares of the semiconductor company’s stock valued at $92,053,000 after purchasing an additional 253,396 shares in the last quarter. Hedge funds and other institutional investors own 76.14% of the company’s stock.

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.