MACOM Technology Solutions (MTSI) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of MACOM Technology Solutions (NASDAQ:MTSI) from a strong sell rating to a buy rating in a report published on Wednesday. The firm currently has $41.00 price target on the semiconductor company’s stock.

According to Zacks, “M/A-COM Technology Solutions Holdings, Inc. provides analog semiconductor solutions for use in wireless and wireline applications across the RF, microwave and millimeterwave spectrum. The Company’s primary markets are Networks which includes CATV, cellular backhaul, cellular infrastructure and fiber optic applications, A&D and Multi-market, which includes automotive, industrial, medical, mobile and scientific applications. It’s product lines include active splitter, amplifier, attenuator, automotive module, capacitor, component, coupler, diode, down converter IC, filter, frequency multiplier, hybrid voltage controlled oscillator, integrated receiver IC, modulator/demodulator, optical modulator driver, phase shifter, power combiner, power detector, power divider, power hybrid pallet, power hybrid transistor, switch, synthesizer, transceiver, transformer, upconverter IC and voltage controlled oscillator. M/A-COM Technology Solutions Holdings, Inc. and is headquartered in Lowell, Massachusetts. “

Several other research analysts have also commented on the stock. Craig Hallum restated a buy rating and issued a $54.00 price objective on shares of MACOM Technology Solutions in a report on Tuesday, October 3rd. Stifel Nicolaus lowered shares of MACOM Technology Solutions from a buy rating to a hold rating and decreased their price objective for the stock from $57.00 to $43.00 in a report on Monday, October 16th. DA Davidson assumed coverage on shares of MACOM Technology Solutions in a report on Monday, October 16th. They issued a neutral rating and a $45.00 price objective for the company. Needham & Company LLC restated a buy rating and issued a $45.00 price objective (down from $56.00) on shares of MACOM Technology Solutions in a report on Tuesday, October 17th. Finally, Barclays decreased their price objective on shares of MACOM Technology Solutions from $63.00 to $50.00 and set an overweight rating for the company in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. MACOM Technology Solutions currently has a consensus rating of Buy and an average target price of $43.00.

MACOM Technology Solutions (MTSI) traded down $2.54 during trading hours on Wednesday, reaching $34.47. 1,569,050 shares of the company were exchanged, compared to its average volume of 889,700. MACOM Technology Solutions has a 52 week low of $29.73 and a 52 week high of $65.99. The company has a quick ratio of 3.64, a current ratio of 4.81 and a debt-to-equity ratio of 0.87. The company has a market cap of $2,290.00, a price-to-earnings ratio of -13.96, a P/E/G ratio of 1.65 and a beta of 1.31.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings results on Tuesday, November 14th. The semiconductor company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). MACOM Technology Solutions had a negative net margin of 24.26% and a positive return on equity of 15.05%. The firm had revenue of $166.40 million for the quarter, compared to the consensus estimate of $171.80 million. During the same quarter in the prior year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. research analysts predict that MACOM Technology Solutions will post 1.01 EPS for the current fiscal year.

In other MACOM Technology Solutions news, CEO John Croteau sold 2,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $31.94, for a total value of $63,880.00. Following the completion of the transaction, the chief executive officer now directly owns 149,219 shares in the company, valued at approximately $4,766,054.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,750 shares of company stock valued at $159,993 over the last 90 days. Company insiders own 42.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Advisor Group Inc. increased its stake in shares of MACOM Technology Solutions by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 2,300 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 143 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MACOM Technology Solutions by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,174 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 199 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of MACOM Technology Solutions by 6.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,799 shares of the semiconductor company’s stock worth $435,000 after acquiring an additional 503 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of MACOM Technology Solutions by 3.1% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 26,938 shares of the semiconductor company’s stock worth $1,502,000 after acquiring an additional 819 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of MACOM Technology Solutions by 32.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,561 shares of the semiconductor company’s stock worth $199,000 after acquiring an additional 864 shares in the last quarter. Institutional investors own 88.18% of the company’s stock.

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MACOM Technology Solutions Company Profile

MACOM Technology Solutions Holdings, Inc is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia.

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