MACOM Technology Solutions Holdings, Inc. (MTSI) Upgraded to Hold at Zacks Investment Research
MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “M/A-COM Technology Solutions Holdings, Inc. provides analog semiconductor solutions for use in wireless and wireline applications across the RF, microwave and millimeterwave spectrum. The Company’s primary markets are Networks which includes CATV, cellular backhaul, cellular infrastructure and fiber optic applications, A&D and Multi-market, which includes automotive, industrial, medical, mobile and scientific applications. It’s product lines include active splitter, amplifier, attenuator, automotive module, capacitor, component, coupler, diode, down converter IC, filter, frequency multiplier, hybrid voltage controlled oscillator, integrated receiver IC, modulator/demodulator, optical modulator driver, phase shifter, power combiner, power detector, power divider, power hybrid pallet, power hybrid transistor, switch, synthesizer, transceiver, transformer, upconverter IC and voltage controlled oscillator. M/A-COM Technology Solutions Holdings, Inc. and is headquartered in Lowell, Massachusetts. “
MTSI has been the topic of several other reports. Barclays PLC reiterated an “overweight” rating and set a $70.00 target price (up from $60.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, July 12th. Craig Hallum restated a “buy” rating and issued a $54.00 price target on shares of MACOM Technology Solutions Holdings in a research report on Tuesday. Stifel Nicolaus upped their price target on MACOM Technology Solutions Holdings from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, June 6th. BidaskClub downgraded MACOM Technology Solutions Holdings from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $61.00 price objective (down previously from $66.00) on shares of MACOM Technology Solutions Holdings in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $57.67.
Shares of MACOM Technology Solutions Holdings (NASDAQ:MTSI) opened at 43.18 on Wednesday. The company’s market capitalization is $2.77 billion. MACOM Technology Solutions Holdings has a 52 week low of $35.33 and a 52 week high of $65.99. The firm has a 50 day moving average price of $43.17 and a 200 day moving average price of $50.87.
MACOM Technology Solutions Holdings (NASDAQ:MTSI) last posted its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.01). The company had revenue of $194.56 million during the quarter, compared to analysts’ expectations of $194.93 million. MACOM Technology Solutions Holdings had a positive return on equity of 17.21% and a negative net margin of 22.43%. The company’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Equities analysts forecast that MACOM Technology Solutions Holdings will post $2.33 EPS for the current year.
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In other MACOM Technology Solutions Holdings news, Director Geoffrey G. Ribar acquired 5,000 shares of the stock in a transaction dated Monday, August 28th. The shares were acquired at an average cost of $43.37 per share, for a total transaction of $216,850.00. Following the completion of the transaction, the director now directly owns 11,063 shares of the company’s stock, valued at $479,802.31. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles R. Bland sold 750 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $60.73, for a total value of $45,547.50. Following the completion of the transaction, the director now owns 24,390 shares in the company, valued at $1,481,204.70. The disclosure for this sale can be found here. Insiders sold a total of 25,367 shares of company stock valued at $1,547,716 in the last ninety days. 57.10% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in MACOM Technology Solutions Holdings during the 2nd quarter valued at approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MACOM Technology Solutions Holdings by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,174 shares of the semiconductor company’s stock worth $121,000 after purchasing an additional 199 shares in the last quarter. Advisor Group Inc. lifted its holdings in MACOM Technology Solutions Holdings by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 2,300 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 143 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in MACOM Technology Solutions Holdings by 24.2% in the 1st quarter. First Mercantile Trust Co. now owns 2,372 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 462 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in MACOM Technology Solutions Holdings in the 1st quarter worth approximately $116,000. Hedge funds and other institutional investors own 79.65% of the company’s stock.
About MACOM Technology Solutions Holdings
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.
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