MACOM Technology Solutions (NASDAQ:MTSI) Stock Price Target Lowered at Needham & Company LLC

MACOM Technology Solutions (NASDAQ:MTSI) had its target price reduced by research analysts at Needham & Company LLC from $410.00 to $300.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC‘s target price would suggest a potential upside of 57.38% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Zacks Research raised shares of MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. BMO Capital Markets raised shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and set a $335.00 price objective on the stock in a research note on Friday, September 18th. Weiss Ratings cut shares of MACOM Technology Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Raymond James Financial raised shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Tuesday, October 27th. Finally, Susquehanna cut their target price on shares of MACOM Technology Solutions from $350.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $329.62.

MACOM Technology Solutions Price Performance

MACOM Technology Solutions stock traded down $42.51 during mid-day trading on Thursday, hitting $190.62. 1,984,818 shares of the company were exchanged, compared to its average volume of 1,473,283. The company has a quick ratio of 1.78, a current ratio of 2.34 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $273.90 and a 200 day moving average of $283.02. MACOM Technology Solutions has a 1-year low of $150.80 and a 1-year high of $418.90. The company has a market capitalization of $14.56 billion, a PE ratio of 61.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.82.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its earnings results on Thursday, November 5th. The semiconductor company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.00 by $0.09. MACOM Technology Solutions had a net margin of 20.70% and a return on equity of 17.82%. The company had revenue of $424.82 million for the quarter, compared to the consensus estimate of $420.35 million. During the same quarter in the previous year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up 62.6% compared to the same quarter last year. As a group, sell-side analysts expect that MACOM Technology Solutions will post 4.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Ambra R. Roth sold 653 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $300.00, for a total transaction of $195,900.00. Following the sale, the senior vice president directly owned 9,184 shares of the company’s stock, valued at $2,755,200. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO John Kober sold 7,389 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $326.08, for a total transaction of $2,409,405.12. Following the completion of the sale, the chief financial officer directly owned 33,583 shares of the company’s stock, valued at approximately $10,950,744.64. This represents a 18.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 9,321 shares of company stock valued at $2,917,644. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MTSI. Illinois Municipal Retirement Fund bought a new stake in shares of MACOM Technology Solutions during the third quarter worth $1,087,000. New York Life Investment Management LLC lifted its stake in shares of MACOM Technology Solutions by 19.8% during the third quarter. New York Life Investment Management LLC now owns 11,198 shares of the semiconductor company’s stock valued at $3,189,000 after acquiring an additional 1,850 shares during the period. AlphaCore Capital LLC bought a new position in MACOM Technology Solutions in the third quarter valued at about $506,000. Retirement Systems of Alabama boosted its holdings in MACOM Technology Solutions by 36.3% in the third quarter. Retirement Systems of Alabama now owns 132,549 shares of the semiconductor company’s stock valued at $37,753,000 after acquiring an additional 35,286 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in MACOM Technology Solutions by 22.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 444,130 shares of the semiconductor company’s stock worth $133,963,000 after purchasing an additional 82,068 shares during the period. Institutional investors and hedge funds own 76.14% of the company’s stock.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc develops and manufactures high-performance semiconductor products for applications involving radio frequency, microwave, millimeter-wave, analog, mixed-signal and optical technologies. Its offerings include integrated circuits, discrete components, modules and semiconductor devices designed to support communications, connectivity and sensing systems.

The company serves markets including telecommunications, data centers, aerospace and defense, industrial, automotive and consumer applications.