Bank of America Issues Pessimistic Forecast for MACOM Technology Solutions (NASDAQ:MTSI) Stock Price

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) had its target price lowered by investment analysts at Bank of America from $160.00 to $130.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Bank of America's price objective indicates a potential upside of 33.62% from the stock's previous close.

Several other brokerages have also recently weighed in on MTSI. Truist Financial began coverage on MACOM Technology Solutions in a report on Friday, April 11th. They issued a "buy" rating and a $125.00 price objective for the company. Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of MACOM Technology Solutions in a research note on Monday, February 10th. BNP Paribas upgraded shares of MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 price objective on the stock in a research note on Wednesday, April 9th. Northland Capmk raised shares of MACOM Technology Solutions from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Finally, Northland Securities upgraded MACOM Technology Solutions from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $105.00 to $140.00 in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $130.83.

MACOM Technology Solutions Stock Performance

MTSI traded up $0.06 during trading hours on Wednesday, reaching $97.29. The company's stock had a trading volume of 349,820 shares, compared to its average volume of 661,210. The company's 50-day moving average is $106.97 and its 200-day moving average is $121.38. 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 $7.23 billion, a PE ratio of -67.56, a price-to-earnings-growth ratio of 2.42 and a beta of 1.72. MACOM Technology Solutions has a 52 week low of $84.00 and a 52 week high of $152.50.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.40 earnings per share (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, equities analysts forecast that MACOM Technology Solutions will post 2.43 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MTSI. Sowell Financial Services LLC acquired a new stake in shares of MACOM Technology Solutions during the 1st quarter worth approximately $206,000. Opal Wealth Advisors LLC bought a new position in MACOM Technology Solutions during the first quarter worth $25,000. Azzad Asset Management Inc. ADV acquired a new stake in MACOM Technology Solutions in the first quarter worth $582,000. GAMMA Investing LLC increased its stake in MACOM Technology Solutions by 24.4% in the first quarter. GAMMA Investing LLC now owns 1,455 shares of the semiconductor company's stock valued at $146,000 after purchasing an additional 285 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of MACOM Technology Solutions by 9.5% during the first quarter. Park Avenue Securities LLC now owns 4,025 shares of the semiconductor company's stock valued at $404,000 after purchasing an additional 350 shares during the period. 76.14% of the stock is owned by institutional investors.

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.