MACOM Technology Solutions (NASDAQ:MTSI) Updates Q4 Earnings Guidance

MACOM Technology Solutions (NASDAQ:MTSI) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.70-0.76 for the period, compared to the consensus earnings per share estimate of $0.72. The company issued revenue guidance of $197-203 million, compared to the consensus revenue estimate of $198.62 million.

MACOM Technology Solutions Trading Up 5.1 %

NASDAQ MTSI opened at $100.92 on Thursday. The company has a market cap of $7.28 billion, a PE ratio of 114.68, a PEG ratio of 4.90 and a beta of 1.70. The company has a current ratio of 7.34, a quick ratio of 5.70 and a debt-to-equity ratio of 0.47. MACOM Technology Solutions has a 12 month low of $66.86 and a 12 month high of $118.76. The stock has a 50 day moving average of $106.21 and a 200-day moving average of $98.05.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). MACOM Technology Solutions had a net margin of 10.01% and a return on equity of 12.67%. The business had revenue of $181.23 million during the quarter, compared to the consensus estimate of $180.97 million. On average, equities research analysts anticipate that MACOM Technology Solutions will post 1.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on MTSI shares. Evercore ISI started coverage on MACOM Technology Solutions in a research report on Tuesday, April 16th. They set an outperform rating and a $120.00 price objective on the stock. Jefferies Financial Group reissued a buy rating and set a $135.00 target price (up from $100.00) on shares of MACOM Technology Solutions in a report on Monday, May 13th. Stifel Nicolaus increased their target price on MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a buy rating in a report on Thursday, July 18th. Benchmark increased their target price on MACOM Technology Solutions from $95.00 to $115.00 and gave the stock a buy rating in a report on Monday, May 6th. Finally, Barclays increased their target price on MACOM Technology Solutions from $105.00 to $115.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $113.00.

Insider Transactions at MACOM Technology Solutions

In other news, CFO John Kober sold 13,666 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $102.98, for a total transaction of $1,407,324.68. Following the completion of the transaction, the chief financial officer now directly owns 47,006 shares in the company, valued at $4,840,677.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MACOM Technology Solutions news, CFO John Kober sold 13,666 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $102.98, for a total value of $1,407,324.68. Following the completion of the sale, the chief financial officer now directly owns 47,006 shares in the company, valued at $4,840,677.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan Ocampo sold 75,000 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $103.02, for a total value of $7,726,500.00. Following the completion of the sale, the director now owns 7,912,681 shares of the company’s stock, valued at $815,164,396.62. The disclosure for this sale can be found here. Insiders sold 538,427 shares of company stock worth $55,391,868 over the last ninety days. 22.75% of the stock is owned by insiders.

About MACOM Technology Solutions

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.