MACOM Technology Solutions (NASDAQ:MTSI) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of MACOM Technology Solutions (NASDAQ:MTSI) from a hold rating to a buy rating in a research report sent to investors on Friday morning, BidAskClub reports.

A number of other research analysts also recently commented on MTSI. ValuEngine upgraded MACOM Technology Solutions from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Piper Jaffray Companies upgraded MACOM Technology Solutions from a neutral rating to an overweight rating and upped their price target for the stock from $14.00 to $21.00 in a research note on Wednesday, July 17th. Needham & Company LLC reiterated a buy rating and set a $17.00 price target (down previously from $20.00) on shares of MACOM Technology Solutions in a research note on Wednesday, June 19th. Barclays reiterated a hold rating and set a $14.00 price target on shares of MACOM Technology Solutions in a research note on Thursday, June 20th. Finally, Zacks Investment Research upgraded MACOM Technology Solutions from a hold rating to a buy rating and set a $21.00 price target for the company in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $18.12.

Shares of NASDAQ MTSI opened at $23.12 on Friday. The business’s 50-day moving average price is $20.17 and its two-hundred day moving average price is $17.10. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.37 and a quick ratio of 3.20. MACOM Technology Solutions has a one year low of $12.33 and a one year high of $23.64. The company has a market capitalization of $1.53 billion, a P/E ratio of 165.14 and a beta of 1.87.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its earnings results on Thursday, August 1st. The semiconductor company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.13. MACOM Technology Solutions had a negative return on equity of 7.79% and a negative net margin of 76.27%. The firm had revenue of $108.30 million for the quarter, compared to the consensus estimate of $108.20 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s quarterly revenue was down 21.5% compared to the same quarter last year. On average, equities analysts anticipate that MACOM Technology Solutions will post -0.76 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Yiheng Capital LLC boosted its stake in shares of MACOM Technology Solutions by 5.1% during the 2nd quarter. Yiheng Capital LLC now owns 3,186,673 shares of the semiconductor company’s stock worth $48,214,000 after acquiring an additional 153,600 shares in the last quarter. BlackRock Inc. lifted its position in shares of MACOM Technology Solutions by 0.3% during the 2nd quarter. BlackRock Inc. now owns 3,120,638 shares of the semiconductor company’s stock worth $47,215,000 after purchasing an additional 7,955 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of MACOM Technology Solutions by 72.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,665,287 shares of the semiconductor company’s stock worth $40,326,000 after purchasing an additional 1,118,360 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of MACOM Technology Solutions by 10.7% during the 1st quarter. Neuberger Berman Group LLC now owns 1,551,959 shares of the semiconductor company’s stock worth $25,928,000 after purchasing an additional 149,536 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of MACOM Technology Solutions during the 2nd quarter worth about $19,853,000. Institutional investors own 73.52% of the company’s stock.

MACOM Technology Solutions Company Profile

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

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Analyst Recommendations for MACOM Technology Solutions (NASDAQ:MTSI)

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