Needham & Company LLC reissued their buy rating on shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm currently has a $45.00 price target on the semiconductor company’s stock, down from their previous price target of $56.00.

“MTSI shares traded down 12% yesterday on a competitor’s downgrade. Having reviewed the points raised in the downgrade, we see many common themes that have been key tenants of the bear case on MACOM for the past several quarters but we don’t see a lot of new news. The bear themes include weakness in China telecom spending, questions around the prices paid for and accretion from recent acquisitions, a lack of consistent strong cash flow and timing uncertainty around the ramp of 100G single-lambda PAM4 solutions. While our competitor redeuced December quarter estimates to be flat Q/Q (in-line with Street), we agree the consensus CY18 revenue ramp now looks aggressive. Accordingly, we are reducing our CY18 estimates.”,” Needham & Company LLC’s analyst commented.

A number of other research firms also recently weighed in on MTSI. DA Davidson started coverage on MACOM Technology Solutions Holdings in a report on Monday. They set a neutral rating and a $45.00 target price for the company. Raymond James Financial, Inc. reissued a market perform rating on shares of MACOM Technology Solutions Holdings in a report on Thursday, September 14th. Stifel Nicolaus dropped their target price on MACOM Technology Solutions Holdings from $64.00 to $57.00 and set a buy rating for the company in a report on Wednesday, August 2nd. BidaskClub raised MACOM Technology Solutions Holdings from a hold rating to a buy rating in a report on Thursday, July 13th. Finally, Zacks Investment Research raised MACOM Technology Solutions Holdings from a strong sell rating to a hold rating in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $49.67.

Shares of MACOM Technology Solutions Holdings (MTSI) traded down 1.63% during trading on Tuesday, hitting $36.86. 1,156,685 shares of the stock were exchanged. The company’s market cap is $2.37 billion. MACOM Technology Solutions Holdings has a 1-year low of $35.33 and a 1-year high of $65.99. The firm’s 50-day moving average is $42.84 and its 200 day moving average is $50.39.

MACOM Technology Solutions Holdings (NASDAQ:MTSI) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.01). MACOM Technology Solutions Holdings had a positive return on equity of 17.21% and a negative net margin of 22.43%. The firm had revenue of $194.56 million for the quarter, compared to analyst estimates of $194.93 million. During the same period in the prior year, the business posted $0.51 EPS. The firm’s quarterly revenue was up 36.7% compared to the same quarter last year. Equities analysts forecast that MACOM Technology Solutions Holdings will post $2.33 earnings per share for the current fiscal year.

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In related news, insider John Croteau sold 2,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $45.20, for a total value of $90,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donghyun Thomas Hwang sold 11,241 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $64.26, for a total value of $722,346.66. Following the completion of the transaction, the senior vice president now directly owns 19,018 shares of the company’s stock, valued at approximately $1,222,096.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,892 shares of company stock valued at $1,418,593. 42.30% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Ardsley Advisory Partners acquired a new position in MACOM Technology Solutions Holdings in the second quarter valued at about $335,000. Ameritas Investment Partners Inc. raised its stake in MACOM Technology Solutions Holdings by 32.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,561 shares of the semiconductor company’s stock valued at $199,000 after purchasing an additional 864 shares in the last quarter. California State Teachers Retirement System raised its stake in MACOM Technology Solutions Holdings by 15.6% in the second quarter. California State Teachers Retirement System now owns 71,895 shares of the semiconductor company’s stock valued at $4,010,000 after purchasing an additional 9,717 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in MACOM Technology Solutions Holdings by 6.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,799 shares of the semiconductor company’s stock valued at $435,000 after purchasing an additional 503 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in MACOM Technology Solutions Holdings by 26.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,926 shares of the semiconductor company’s stock valued at $1,781,000 after purchasing an additional 6,688 shares in the last quarter. 79.33% of the stock is owned by institutional investors and hedge funds.

About MACOM Technology Solutions Holdings

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.

Analyst Recommendations for MACOM Technology Solutions Holdings (NASDAQ:MTSI)

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