Needham & Company LLC Boosts MACOM Technology Solutions (NASDAQ:MTSI) Price Target to $110.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective boosted by Needham & Company LLC from $100.00 to $110.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

MTSI has been the topic of several other research reports. TheStreet downgraded MACOM Technology Solutions from a b rating to a c+ rating in a research note on Thursday, February 1st. Evercore ISI assumed coverage on shares of MACOM Technology Solutions in a research note on Tuesday, April 16th. They issued an outperform rating and a $120.00 price target on the stock. Stifel Nicolaus upped their target price on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Piper Sandler reaffirmed a neutral rating and issued a $85.00 price objective on shares of MACOM Technology Solutions in a research report on Thursday, January 4th. Finally, Barclays upped their price target on MACOM Technology Solutions from $80.00 to $105.00 and gave the company an overweight rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $108.33.

MACOM Technology Solutions Stock Up 0.6 %

Shares of NASDAQ MTSI traded up $0.66 during mid-day trading on Friday, hitting $103.51. 695,695 shares of the stock traded hands, compared to its average volume of 525,622. The company has a market cap of $7.46 billion, a price-to-earnings ratio of 117.24, a PEG ratio of 7.99 and a beta of 1.65. The stock has a fifty day moving average price of $96.16 and a 200-day moving average price of $88.35. MACOM Technology Solutions has a 52 week low of $53.04 and a 52 week high of $107.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.70 and a current ratio of 7.34.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. MACOM Technology Solutions had a net margin of 10.01% and a return on equity of 12.67%. The company had revenue of $157.15 million during the quarter, compared to analysts’ expectations of $151.12 million. Research analysts anticipate that MACOM Technology Solutions will post 2.02 EPS for the current year.

Insider Activity at MACOM Technology Solutions

In related news, SVP Donghyun Thomas Hwang sold 9,397 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $92.24, for a total value of $866,779.28. Following the completion of the sale, the senior vice president now directly owns 48,325 shares of the company’s stock, valued at approximately $4,457,498. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Donghyun Thomas Hwang sold 9,397 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $92.24, for a total value of $866,779.28. Following the completion of the sale, the senior vice president now directly owns 48,325 shares of the company’s stock, valued at $4,457,498. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO John Kober sold 12,892 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $79.95, for a total value of $1,030,715.40. Following the sale, the chief financial officer now owns 60,672 shares of the company’s stock, valued at approximately $4,850,726.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 804,824 shares of company stock worth $68,127,415. Corporate insiders own 22.75% of the company’s stock.

Institutional Investors Weigh In On MACOM Technology Solutions

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of MACOM Technology Solutions by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,717,763 shares of the semiconductor company’s stock valued at $466,455,000 after acquiring an additional 101,938 shares during the last quarter. Burney Co. purchased a new position in MACOM Technology Solutions in the 3rd quarter worth about $1,318,000. Penserra Capital Management LLC lifted its holdings in MACOM Technology Solutions by 84.3% during the 3rd quarter. Penserra Capital Management LLC now owns 95,114 shares of the semiconductor company’s stock valued at $7,759,000 after buying an additional 43,494 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in MACOM Technology Solutions by 12.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 440,481 shares of the semiconductor company’s stock valued at $35,934,000 after buying an additional 47,932 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in MACOM Technology Solutions in the 4th quarter worth about $2,582,000. 76.14% of the stock is currently 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 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.