MACOM Technology Solutions (NASDAQ:MTSI) Hits New 52-Week High at $104.90

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $104.90 and last traded at $101.88, with a volume of 89020 shares trading hands. The stock had previously closed at $99.85.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MTSI. Barclays increased their price target on shares of MACOM Technology Solutions from $80.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Needham & Company LLC increased their price target on shares of MACOM Technology Solutions from $84.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Piper Sandler restated a “neutral” rating and set a $85.00 target price on shares of MACOM Technology Solutions in a report on Thursday, January 4th. Stifel Nicolaus raised their target price on shares of MACOM Technology Solutions from $90.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, Evercore ISI initiated coverage on shares of MACOM Technology Solutions in a report on Tuesday. They set an “outperform” rating and a $120.00 target price for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.56.

MACOM Technology Solutions Price Performance

The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 96.01, a PEG ratio of 6.18 and a beta of 1.64. The company’s 50 day simple moving average is $92.42 and its 200-day simple moving average is $86.69. The company has a current ratio of 7.24, a quick ratio of 5.69 and a debt-to-equity ratio of 0.48.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. MACOM Technology Solutions had a net margin of 11.93% and a return on equity of 14.85%. The company had revenue of $157.15 million for the quarter, compared to analysts’ expectations of $151.12 million. On average, equities research analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Robert Dennehy sold 2,370 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.88, for a total value of $210,645.60. Following the sale, the senior vice president now directly owns 32,827 shares of the company’s stock, valued at $2,917,663.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Robert Dennehy sold 2,370 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.88, for a total value of $210,645.60. Following the sale, the senior vice president now directly owns 32,827 shares of the company’s stock, valued at $2,917,663.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donghyun Thomas Hwang sold 6,234 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $87.77, for a total transaction of $547,158.18. Following the completion of the sale, the senior vice president now directly owns 57,722 shares in the company, valued at $5,066,259.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 811,058 shares of company stock valued at $68,674,574. Insiders own 22.75% of the company’s stock.

Institutional Investors Weigh In On MACOM Technology Solutions

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in MACOM Technology Solutions by 1.8% in the third quarter. Vanguard Group Inc. now owns 5,717,763 shares of the semiconductor company’s stock valued at $466,455,000 after buying an additional 101,938 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in MACOM Technology Solutions by 90.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,739,459 shares of the semiconductor company’s stock valued at $235,511,000 after buying an additional 1,777,798 shares during the period. State Street Corp raised its holdings in MACOM Technology Solutions by 6.8% in the second quarter. State Street Corp now owns 2,420,793 shares of the semiconductor company’s stock valued at $158,635,000 after buying an additional 153,759 shares during the period. Goldman Sachs Group Inc. raised its holdings in MACOM Technology Solutions by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,684,015 shares of the semiconductor company’s stock valued at $100,822,000 after buying an additional 84,293 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in MACOM Technology Solutions by 29.0% in the third quarter. Artisan Partners Limited Partnership now owns 1,128,382 shares of the semiconductor company’s stock valued at $92,053,000 after buying an additional 253,396 shares during the period. 76.14% of the stock is owned by institutional investors and hedge funds.

MACOM Technology Solutions Company Profile

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.