MACOM Technology Solutions (NASDAQ:MTSI) Updates Q3 Earnings Guidance

MACOM Technology Solutions (NASDAQ:MTSI) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $0.63-$0.69 for the period, compared to the consensus EPS estimate of $0.65. The company issued revenue guidance of $187-$193 million, compared to the consensus revenue estimate of $188.23 million.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TheStreet lowered shares of MACOM Technology Solutions from a b rating to a c+ rating in a research report on Thursday, February 1st. Stifel Nicolaus increased 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 report on Thursday, April 18th. Evercore ISI assumed coverage on shares of MACOM Technology Solutions in a research report on Tuesday, April 16th. They set an outperform rating and a $120.00 target price on the stock. Needham & Company LLC increased their target price on shares of MACOM Technology Solutions from $100.00 to $110.00 and gave the stock a buy rating in a research report on Friday. Finally, Craig Hallum increased their target price on shares of MACOM Technology Solutions from $95.00 to $120.00 and gave the stock a buy rating in a research report on Friday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $105.78.

MACOM Technology Solutions Stock Performance

NASDAQ MTSI opened at $102.85 on Friday. The company has a current ratio of 7.34, a quick ratio of 5.69 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 116.88, a P/E/G ratio of 6.52 and a beta of 1.65. The firm’s 50 day simple moving average is $96.16 and its 200 day simple moving average is $88.28. MACOM Technology Solutions has a 1 year low of $48.53 and a 1 year high of $104.90.

MACOM Technology Solutions (NASDAQ:MTSI) last posted 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. The business had revenue of $157.15 million for the quarter, compared to analyst estimates of $151.12 million. MACOM Technology Solutions had a net margin of 10.01% and a return on equity of 12.67%. As a group, research analysts expect that MACOM Technology Solutions will post 2.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Wayne Mack Struble sold 1,019 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.12, for a total value of $87,756.28. Following the completion of the transaction, the senior vice president now owns 15,649 shares of the company’s stock, valued at approximately $1,347,691.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Wayne Mack Struble sold 1,019 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.12, for a total value of $87,756.28. Following the completion of the transaction, the senior vice president now owns 15,649 shares of the company’s stock, valued at approximately $1,347,691.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $866,779.28. Following the completion of the transaction, the senior vice president now directly owns 48,325 shares of the company’s stock, valued at approximately $4,457,498. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 804,824 shares of company stock worth $68,127,415. Corporate insiders own 22.75% of the company’s stock.

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.