MACOM Technology Solutions Holdings Inc. (NASDAQ: MTSI – Get Rated) was the target of a surge in short interest in August. As of Aug. 31, short interest totaled 4,070,000 shares, an increase of 36.1% from 2,990,000 shares on Aug. 15. About 7.9% of the company’s shares were sold short. Based on an average volume of 632,500 shares, the current day multiple is 6.4 days.
Analyst Rating Changes
Several analysts have commented on MTSI stock recently. Barclays lowered its price target on MACOM Technology Solutions to $65.00 from $75.00 in a report on Monday, July 25, with an “overweight” rating on the company. In a report Friday, July 29, Northland Securities lowered its price target on MACOM Technology Solutions to $70.00 from $75.00. Needham & Company LLC raised its price target on MACOM Technology Solutions to $62.00 from $57.00 in a Friday, July 29 report and gave the company a “buy” rating. Piper Sandler raised its price target on MACOM Technology Solutions to $75.00 from $65.00 and gave the company an “overweight” rating in a report on Friday, Aug. 19. Finally, Cowen raised its price target on MACOM Technology Solutions from $55.00 to $68.00 in a Friday, July 29 research note. Eight analysts have buy ratings on the stock, with MACOM Technology Solutions averaging a Buy rating and a consensus price target of $71.55, according to MarketBeat.com.
MACOM Technology Solutions Stock Performance
The Nasdaq MTSI opened Friday at $54.18. The stock has a 50-day simple moving average of $55.94 and a 200-day simple moving average of $54.01. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.52, and a beta of 2.00. MACOM Technology Solutions had a 52-week low of $42.85 and a 52-week high of $80.30. The company’s gearing ratio is 1.01, its quick ratio is 6.46, and its current ratio is 7.55.
MACOM Technology Solutions (NASDAQ: MTSI – Get Rated) last released quarterly earnings data on Thursday, July 28. The semiconductor company reported earnings per share of $0.59 for the quarter, beating analysts’ consensus estimate of $0.57 by $0.02. The business reported revenue of $172.30 million for the quarter, compared with analysts’ estimates of $170.04 million. The return on equity of MACOM Technology Solutions was 27.65% and the net profit margin was 33.38%. The company’s revenue rose 12.9% year over year. In the same quarter last year, earnings per share for the business were $0.44. On average, stock analysts forecast earnings per share of 2.26 for MACOM Technology Solutions for the current year.
Insider Trading at MACOM Technology Solutions
In other MACOM Technology Solutions news, Senior Vice President Ambra R. Roth sold 6,903 shares in trading on Monday, June 27. The stock sold at an average price of $50.00 for a total volume of $345,150.00. Following the sale, the senior vice president now owns 23,681 shares of the company’s stock, worth approximately $1,184,050. The sale was disclosed in a legal filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. In other MACOM Technology Solutions news, Senior Vice President Ambra R. Roth sold 6,903 shares in trading on Monday, June 27. The stock sold at an average price of $50.00 for a total volume of $345,150.00. Following the sale, the senior vice president now owns 23,681 shares of the company’s stock, worth approximately $1,184,050. The sale was disclosed in a legal filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. In addition, CFO John Kerber sold 2,153 shares in trading on Thursday, Aug. 4. The average selling price of these shares was $60.80 for a total value of $130,902.40. Following the sale, the CFO now directly owns 75,318 shares of the company, worth approximately $4,579,334.40. Disclosures for this sale can be found here. Over the past 90 days, insiders have sold 959,123 shares of the company, worth $56,896,897. 28.30% of the shares are currently held by company insiders.
Hedge Funds Weigh MACOM Technology Solutions
Some institutional investors have recently revised their stock holdings. FMR LLC increased its stake in MACOM Technology Solutions by 7.1% in the second quarter. FMR LLC now owns 3,762,701 shares of the semiconductor company’s stock valued at $173,460,000 after purchasing an additional 249,882 shares in the previous quarter. Goldman Sachs Group Inc.’s share of MACOM Technology Solutions rose 5.3 percent in the first quarter. Goldman Sachs Group Inc. now owns 1,684,015 shares of the semiconductor company, valued at $100,822,000, after adding 84,293 shares during the period. State Street’s stake in MACOM Technology Solutions increased by 3.4% in the first quarter. State Street Corporation 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 this period. GW&K Investment Management LLC’s stake in MACOM Technology Solutions increased by 11.4% in the first quarter. After acquiring an additional 117,271 shares during the period, GW&K Investment Management LLC now owns 1,145,904 shares of the semiconductor company’s stock, valued at $68,605,000. Finally, TimesSquare Capital Management LLC increased its share of MACOM Technology Solutions by 4.1% in the second 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.
MACOM Technology Solutions Company Profile
(get a rating)
MACOM Technology Solutions Holdings, Inc and its subsidiaries design and manufacture analog semiconductor solutions for wireless and wireline applications in the radio frequency (RF), microwave, millimeter wave and light wave spectrums in the United States, China and Asia Pacific and internationally.
Further reading
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