MACOM Technology Solutions (NASDAQ:MTSI) Shares Gap Down Following Weak Earnings

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Get Free Report) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $135.73, but opened at $127.00. MACOM Technology Solutions shares last traded at $127.91, with a volume of 145,457 shares traded.

The semiconductor company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.38). MACOM Technology Solutions had a positive return on equity of 12.42% and a negative net margin of 13.05%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Northland Securities raised shares of MACOM Technology Solutions from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $105.00 to $140.00 in a research note on Monday. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of MACOM Technology Solutions in a research note on Monday. Finally, Piper Sandler increased their price target on MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $131.50.

Insider Buying and Selling at MACOM Technology Solutions

In other news, Director Susan Ocampo sold 25,351 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $130.05, for a total value of $3,296,897.55. Following the transaction, the director now directly owns 6,046,676 shares in the company, valued at $786,370,213.80. This trade represents a 0.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John Kober sold 19,470 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $126.88, for a total value of $2,470,353.60. Following the sale, the chief financial officer now owns 51,489 shares of the company's stock, valued at $6,532,924.32. The trade was a 27.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,532 shares of company stock worth $27,902,795 in the last quarter. 16.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MACOM Technology Solutions

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in MACOM Technology Solutions by 75.4% during the 3rd quarter. GAMMA Investing LLC now owns 821 shares of the semiconductor company's stock worth $91,000 after purchasing an additional 353 shares during the period. CWM LLC lifted its stake in shares of MACOM Technology Solutions by 16.4% during the third quarter. CWM LLC now owns 1,689 shares of the semiconductor company's stock worth $188,000 after purchasing an additional 238 shares in the last quarter. Creative Planning boosted its position in shares of MACOM Technology Solutions by 11.3% in the third quarter. Creative Planning now owns 10,421 shares of the semiconductor company's stock worth $1,159,000 after buying an additional 1,059 shares during the period. nVerses Capital LLC acquired a new stake in shares of MACOM Technology Solutions in the third quarter valued at about $367,000. Finally, Raymond James & Associates raised its holdings in shares of MACOM Technology Solutions by 5.2% during the 3rd quarter. Raymond James & Associates now owns 38,917 shares of the semiconductor company's stock valued at $4,330,000 after buying an additional 1,924 shares during the period. Institutional investors and hedge funds own 76.14% of the company's stock.

MACOM Technology Solutions Stock Down 3.5 %

The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of -85.24, a price-to-earnings-growth ratio of 2.27 and a beta of 1.71. The firm has a 50-day moving average of $135.97 and a 200 day moving average of $120.04. The company has a current ratio of 3.61, a quick ratio of 6.55 and a debt-to-equity ratio of 0.33.

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.