MACOM Technology Solutions (NASDAQ:MTSI) Issues 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

Several brokerages recently weighed in on MTSI. Needham & Company LLC raised their price target on shares of MACOM Technology Solutions from $84.00 to $100.00 and gave the company a buy rating in a research report on Friday, February 2nd. Evercore ISI initiated 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. Barclays lifted their target price on shares of MACOM Technology Solutions from $80.00 to $105.00 and gave the stock an overweight rating in a research report on Tuesday, January 16th. Stifel Nicolaus lifted 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. Finally, TheStreet cut shares of MACOM Technology Solutions from a b rating to a c+ rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $99.67.

MACOM Technology Solutions Trading Down 2.8 %

Shares of MTSI stock opened at $99.12 on Thursday. The company has a 50 day moving average of $95.31 and a 200-day moving average of $87.91. The company has a quick ratio of 5.69, a current ratio of 7.24 and a debt-to-equity ratio of 0.48. MACOM Technology Solutions has a 12-month low of $48.53 and a 12-month high of $104.90. The firm has a market cap of $7.14 billion, a P/E ratio of 95.31, a PEG ratio of 6.46 and a beta of 1.64.

MACOM Technology Solutions (NASDAQ:MTSI) last issued 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. MACOM Technology Solutions had a net margin of 11.93% and a return on equity of 14.85%. The company had revenue of $157.15 million during the quarter, compared to analyst estimates of $151.12 million. Sell-side analysts anticipate that MACOM Technology Solutions will post 2.02 earnings per share for the current year.

Insider Activity at MACOM Technology Solutions

In related news, SVP Robert Dennehy sold 2,210 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.79, for a total value of $185,175.90. Following the completion of the transaction, the senior vice president now directly owns 35,197 shares in the company, valued at approximately $2,949,156.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Wayne Mack Struble sold 1,019 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.12, for a total transaction of $87,756.28. Following the completion of the transaction, the senior vice president now directly owns 15,649 shares in the company, valued at approximately $1,347,691.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert Dennehy sold 2,210 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $83.79, for a total transaction of $185,175.90. Following the transaction, the senior vice president now owns 35,197 shares of the company’s stock, valued at $2,949,156.63. The disclosure for this sale can be found here. In the last ninety days, insiders sold 804,824 shares of company stock worth $68,127,415. Corporate insiders own 22.75% of the company’s stock.

MACOM Technology Solutions Company Profile

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.