MACOM Technology Solutions (NASDAQ:MTSI) Rating Increased to Outperform at BNP Paribas

MACOM Technology Solutions (NASDAQ:MTSI) was upgraded by stock analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $135.00 price target on the semiconductor company’s stock. BNP Paribas’ price target points to a potential upside of 35.99% from the stock’s previous close.

MTSI has been the topic of several other research reports. Northland Securities raised shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $105.00 to $140.00 in a report on Monday, February 10th. Benchmark reissued a “buy” rating and set a $160.00 price target on shares of MACOM Technology Solutions in a research note on Monday, February 10th. Finally, Northland Capmk raised MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MACOM Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $131.82.

MACOM Technology Solutions Price Performance

MTSI opened at $99.27 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.88 and a current ratio of 3.61. The firm has a market cap of $7.38 billion, a P/E ratio of -68.94, a PEG ratio of 2.42 and a beta of 1.72. MACOM Technology Solutions has a fifty-two week low of $84.00 and a fifty-two week high of $152.50. The firm has a 50-day moving average of $110.60 and a 200 day moving average of $121.95.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.38). MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. On average, research analysts expect that MACOM Technology Solutions will post 2.43 EPS for the current year.

Insider Buying and Selling

In other news, Director Geoffrey G. Ribar sold 6,656 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $121.61, for a total value of $809,436.16. Following the completion of the sale, the director now owns 14,031 shares of the company’s stock, valued at approximately $1,706,309.91. This represents a 32.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Ocampo sold 97,527 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $124.08, for a total value of $12,101,150.16. Following the sale, the director now directly owns 4,689,225 shares in the company, valued at approximately $581,839,038. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 743,948 shares of company stock worth $92,210,640. Corporate insiders own 16.30% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of MTSI. Vanguard Group Inc. increased its stake in shares of MACOM Technology Solutions by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company’s stock worth $846,656,000 after acquiring an additional 368,979 shares during the period. Price T Rowe Associates Inc. MD boosted its position in MACOM Technology Solutions by 38.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company’s stock worth $519,399,000 after acquiring an additional 1,120,510 shares during the last quarter. Geode Capital Management LLC grew its position in shares of MACOM Technology Solutions by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,022,565 shares of the semiconductor company’s stock valued at $132,882,000 after purchasing an additional 6,784 shares in the last quarter. Millennium Management LLC increased its stake in shares of MACOM Technology Solutions by 14.8% in the 4th quarter. Millennium Management LLC now owns 850,687 shares of the semiconductor company’s stock worth $110,513,000 after acquiring an additional 109,529 shares during the last quarter. Finally, Norges Bank acquired a new stake in MACOM Technology Solutions during the fourth quarter worth about $82,833,000. 76.14% of the stock is owned by hedge funds and other institutional investors.

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.