Thu. Oct 6th, 2022

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI – Get Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 4,070,000 shares, a growth of 36.1% from the August 15th total of 2,990,000 shares. Approximately 7.9% of the company’s stock are short sold. Based on an average trading volume of 632,500 shares, the days-to-cover ratio is currently 6.4 days.

Analyst Ratings Changes

Several analysts have recently commented on MTSI shares. Barclays decreased their price objective on MACOM Technology Solutions from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Northland Securities decreased their price objective on MACOM Technology Solutions from $75.00 to $70.00 in a report on Friday, July 29th. Needham & Company LLC increased their price objective on MACOM Technology Solutions from $57.00 to $62.00 and gave the company a “buy” rating in a report on Friday, July 29th. Piper Sandler increased their price objective on MACOM Technology Solutions from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Finally, Cowen raised their target price on MACOM Technology Solutions from $55.00 to $68.00 in a research note on Friday, July 29th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, MACOM Technology Solutions has an average rating of “Buy” and a consensus price target of $71.55.

MACOM Technology Solutions Stock Performance

NASDAQ MTSI opened at $54.18 on Friday. The stock has a 50-day simple moving average of $55.94 and a two-hundred day simple moving average of $54.01. The firm has a market capitalization of $3.79 billion, a P/E ratio of 17.71, a PEG ratio of 1.52 and a beta of 2.00. MACOM Technology Solutions has a fifty-two week low of $42.85 and a fifty-two week high of $80.30. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.46 and a current ratio of 7.55.

MACOM Technology Solutions (NASDAQ:MTSI – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $172.30 million during the quarter, compared to analyst estimates of $170.04 million. MACOM Technology Solutions had a return on equity of 27.65% and a net margin of 33.38%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. On average, equities analysts forecast that MACOM Technology Solutions will post 2.26 earnings per share for the current year.

Insider Buying and Selling at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Ambra R. Roth sold 6,903 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $50.00, for a total transaction of $345,150.00. Following the sale, the senior vice president now owns 23,681 shares of the company’s stock, valued at approximately $1,184,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MACOM Technology Solutions news, SVP Ambra R. Roth sold 6,903 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $50.00, for a total transaction of $345,150.00. Following the sale, the senior vice president now owns 23,681 shares of the company’s stock, valued at approximately $1,184,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Kober sold 2,153 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $60.80, for a total value of $130,902.40. Following the sale, the chief financial officer now directly owns 75,318 shares in the company, valued at approximately $4,579,334.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 959,123 shares of company stock valued at $56,896,897. 28.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of MACOM Technology Solutions by 7.1% during the 2nd quarter. FMR LLC now owns 3,762,701 shares of the semiconductor company’s stock valued at $173,460,000 after buying an additional 249,882 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of MACOM Technology Solutions by 5.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,684,015 shares of the semiconductor company’s stock valued at $100,822,000 after acquiring an additional 84,293 shares during the period. State Street Corp grew its position in shares of MACOM Technology Solutions by 3.4% during the 1st quarter. State Street Corp now owns 1,563,743 shares of the semiconductor company’s stock valued at $93,621,000 after acquiring an additional 52,005 shares during the period. GW&K Investment Management LLC grew its position in shares of MACOM Technology Solutions by 11.4% during the 1st quarter. GW&K Investment Management LLC now owns 1,145,904 shares of the semiconductor company’s stock valued at $68,605,000 after acquiring an additional 117,271 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in shares of MACOM Technology Solutions by 4.1% during the 2nd quarter. TimesSquare Capital Management LLC now owns 897,010 shares of the semiconductor company’s stock valued at $41,352,000 after acquiring an additional 35,485 shares during the period. Hedge funds and other institutional investors own 72.30% of the company’s stock.

MACOM Technology Solutions Company Profile

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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, the Asia Pacific, and internationally.

Further Reading

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