MACOM Technology Solutions (NASDAQ:MTSI) had its price objective reduced by Stifel Nicolaus from $35.00 to $30.00 in a report released on Tuesday morning, Marketbeat reports. They currently have a hold rating on the semiconductor company’s stock.

“Last night, Micron released new, increased guidance for F2Q18 by 4% or $270MM. The company also announced that David Zinsner would succeed Ernie Maddock, who is retiring, as CFO. Given this positive pre-announcement, we remain favorable on the memory cycle and believe Micron has room to expand NAND gross margins despite a declining pricing environment. Furthermore, we believe whatever excess NAND supply in the market will be absorbed by demand for client and data center SSDs. Now that we’ve seen evidence of two consecutive quarters indicating $10+ annualized earnings, we are upgrading to Strong Buy from Buy. We believe the market is incorrectly applying a trough multiple on peak earnings. Over time, in our view, this disconnect will close and we should see a re-rating in the multiple.”,” the firm’s analyst commented.

Several other brokerages have also recently weighed in on MTSI. Zacks Investment Research cut shares of MACOM Technology Solutions from a hold rating to a strong sell rating in a research note on Thursday, October 19th. Jefferies Group set a $61.00 price objective on shares of MACOM Technology Solutions and gave the stock a buy rating in a research note on Wednesday, October 18th. Barclays dropped 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 research note on Wednesday, October 18th. JPMorgan Chase & Co. dropped their price objective on shares of MACOM Technology Solutions from $55.00 to $45.00 and set an overweight rating for the company in a research note on Wednesday, November 15th. Finally, dropped their price objective on shares of MACOM Technology Solutions from $43.00 to $35.00 and set a hold rating for the company in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $38.00.

Shares of MACOM Technology Solutions (NASDAQ:MTSI) opened at $18.92 on Tuesday. MACOM Technology Solutions has a 12 month low of $17.84 and a 12 month 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 firm has a market cap of $1,220.00, a PE ratio of -7.03, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.03). MACOM Technology Solutions had a positive return on equity of 10.29% and a negative net margin of 28.19%. The business had revenue of $130.93 million during the quarter, compared to analyst estimates of $132.91 million. During the same quarter last year, the firm earned $0.57 EPS. MACOM Technology Solutions’s revenue for the quarter was down 13.7% compared to the same quarter last year. equities analysts expect that MACOM Technology Solutions will post 1.04 earnings per share for the current fiscal year.

In other news, CEO John Croteau sold 2,000 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 4,750 shares of company stock valued at $158,518 over the last 90 days. Corporate insiders own 32.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in MTSI. Ameriprise Financial Inc. grew its holdings in shares of MACOM Technology Solutions by 122.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,277,406 shares of the semiconductor company’s stock valued at $280,034,000 after purchasing an additional 3,457,245 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of MACOM Technology Solutions by 60.6% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,401,434 shares of the semiconductor company’s stock valued at $151,738,000 after purchasing an additional 1,283,603 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of MACOM Technology Solutions by 528.8% during the 3rd quarter. Bamco Inc. NY now owns 940,121 shares of the semiconductor company’s stock valued at $41,939,000 after purchasing an additional 790,621 shares during the last quarter. BlackRock Inc. grew its holdings in shares of MACOM Technology Solutions by 16.7% during the 2nd quarter. BlackRock Inc. now owns 2,394,921 shares of the semiconductor company’s stock valued at $133,565,000 after purchasing an additional 342,102 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of MACOM Technology Solutions by 46.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,038,371 shares of the semiconductor company’s stock valued at $46,322,000 after purchasing an additional 331,665 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2018/02/10/stifel-nicolaus-trims-macom-technology-solutions-mtsi-target-price-to-30-00.html.

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.

Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

Receive News & Ratings for MACOM Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MACOM Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.