MACOM Technology Solutions (MTSI) Receives “Buy” Rating From Needham & Company LLC

MACOM Technology Solutions logoMACOM Technology Solutions (NASDAQ:MTSI)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Wednesday. They presently have a $34.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 63.23% from the company’s current price.

The analysts wrote, “MTSI reported in-line F3Q18 results and provided solid F4Q18 guidance. Data center revenue was better than expected (including a $7MM license payment) and is well positioned for a C2H18 ramp with its new white box transceiver customer which will be licensing MTSI’s qualified transceiver designs as well as purchasing the company’s components. Telecom revenue was slightly below our expectations driven by a stall in China during the ZTE ban. The Ind&D business grew 10% Q/Q driven by share gains and new programs/program upgrades. MTSI expects all end-markets will contribute to sequential top-line growth in 2H18. We maintain our Buy rating and $34 PT on MTSI as C2H18 looks well positioned for a strong DC ramp.””

A number of other equities analysts have also recently issued reports on the company. Goldman Sachs Group lowered their target price on MACOM Technology Solutions from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, April 18th. Northland Securities initiated coverage on MACOM Technology Solutions in a report on Wednesday, April 4th. They set an “outperform” rating and a $25.00 target price for the company. Zacks Investment Research upgraded MACOM Technology Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, April 11th. BidaskClub upgraded MACOM Technology Solutions from a “hold” rating to a “buy” rating in a report on Saturday, July 7th. Finally, Stifel Nicolaus decreased their price objective on MACOM Technology Solutions from $25.00 to $18.00 and set a “hold” rating for the company in a report on Friday, April 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $33.27.

MACOM Technology Solutions opened at $20.83 on Wednesday, MarketBeat Ratings reports. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 24.04 and a beta of 1.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.36 and a quick ratio of 3.74. MACOM Technology Solutions has a 1 year low of $15.46 and a 1 year high of $62.22.

MACOM Technology Solutions (NASDAQ:MTSI) last released its earnings results on Tuesday, July 31st. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13. The firm had revenue of $137.87 million during the quarter, compared to analysts’ expectations of $146.71 million. MACOM Technology Solutions had a positive return on equity of 7.54% and a negative net margin of 11.90%. The company’s revenue was down 29.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. sell-side analysts forecast that MACOM Technology Solutions will post 0.05 earnings per share for the current year.

In related news, Chairman John L. Ocampo acquired 22,760 shares of the firm’s stock in a transaction dated Monday, May 7th. The stock was bought at an average price of $22.07 per share, for a total transaction of $502,313.20. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Vivek Rajgarhia sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $22.55, for a total value of $67,650.00. Following the completion of the transaction, the senior vice president now owns 83,038 shares of the company’s stock, valued at approximately $1,872,506.90. The disclosure for this sale can be found here. In the last 90 days, insiders bought 113,460 shares of company stock valued at $2,497,113 and sold 16,251 shares valued at $371,643. 32.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MTSI. Massmutual Trust Co. FSB ADV lifted its stake in MACOM Technology Solutions by 72.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 10,274 shares of the semiconductor company’s stock valued at $171,000 after purchasing an additional 4,306 shares during the last quarter. Suntrust Banks Inc. acquired a new stake in MACOM Technology Solutions in the 1st quarter valued at about $195,000. US Bancorp DE lifted its stake in MACOM Technology Solutions by 116.1% in the 1st quarter. US Bancorp DE now owns 13,658 shares of the semiconductor company’s stock valued at $227,000 after purchasing an additional 7,339 shares during the last quarter. Needham Investment Management LLC acquired a new stake in MACOM Technology Solutions in the 1st quarter valued at about $332,000. Finally, Isthmus Partners LLC lifted its stake in MACOM Technology Solutions by 12.4% in the 1st quarter. Isthmus Partners LLC now owns 21,583 shares of the semiconductor company’s stock valued at $358,000 after purchasing an additional 2,373 shares during the last quarter. Institutional investors own 92.91% of the company’s stock.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and photonic semiconductor solutions in the United States, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, which include integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and complete subsystems for more than 60 product lines.

Read More: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

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Source : https://www.dispatchtribunal.com/2018/08/01/macom-technology-solutions-mtsi-receives-buy-rating-from-needham-company-llc.html

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