BidaskClub Lowers MACOM Technology Solutions (NASDAQ:MTSI) to Strong Sell

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BidaskClub downgraded shares of MACOM Technology Solutions (NASDAQ:MTSI) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning, BidAskClub reports.

A number of other brokerages have also recently weighed in on MTSI. Craig Hallum raised shares of MACOM Technology Solutions from a hold rating to a buy rating and set a $25.00 price target for the company in a research report on Wednesday, May 8th. Zacks Investment Research raised shares of MACOM Technology Solutions from a sell rating to a hold rating in a research report on Wednesday, April 10th. ValuEngine cut shares of MACOM Technology Solutions from a buy rating to a hold rating in a research report on Thursday, April 11th. Evercore ISI cut shares of MACOM Technology Solutions from an outperform rating to an inline rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus raised shares of MACOM Technology Solutions from a sell rating to a hold rating in a research report on Thursday, May 16th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. MACOM Technology Solutions presently has a consensus rating of Hold and a consensus price target of $18.40.

Shares of MTSI opened at $14.42 on Friday. MACOM Technology Solutions has a 1-year low of $12.33 and a 1-year high of $25.82. The stock has a market capitalization of $936.23 million, a PE ratio of 103.00 and a beta of 2.02. The company has a current ratio of 5.01, a quick ratio of 3.66 and a debt-to-equity ratio of 1.11. The company has a fifty day moving average of $14.39.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. MACOM Technology Solutions had a negative net margin of 30.19% and a negative return on equity of 1.98%. The firm had revenue of $128.47 million during the quarter, compared to analysts’ expectations of $121.06 million. During the same period in the previous year, the company earned $0.13 earnings per share. MACOM Technology Solutions’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, analysts anticipate that MACOM Technology Solutions will post -0.5 earnings per share for the current fiscal year.

In other news, SVP Vivek Rajgarhia sold 1,782 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $18.41, for a total value of $32,806.62. Following the completion of the sale, the senior vice president now directly owns 89,435 shares of the company’s stock, valued at $1,646,498.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman John L. Ocampo bought 60,000 shares of MACOM Technology Solutions stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $13.26 per share, with a total value of $795,600.00. The disclosure for this purchase can be found here. 32.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pearl River Capital LLC raised its holdings in MACOM Technology Solutions by 495.0% during the first quarter. Pearl River Capital LLC now owns 2,600 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 2,163 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MACOM Technology Solutions by 37.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,769 shares of the semiconductor company’s stock worth $55,000 after buying an additional 1,032 shares during the period. Quantamental Technologies LLC acquired a new position in MACOM Technology Solutions during the first quarter worth about $80,000. FNY Investment Advisers LLC acquired a new position in MACOM Technology Solutions during the first quarter worth about $125,000. Finally, PEAK6 Investments LLC grew its position in MACOM Technology Solutions by 174.2% during the fourth quarter. PEAK6 Investments LLC now owns 11,244 shares of the semiconductor company’s stock worth $163,000 after buying an additional 26,392 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.

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