MACOM Technology Solutions (NASDAQ:MTSI) Stock Price Down 2.8% - Here's Why

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Get Free Report)'s share price traded down 2.8% during trading on Monday . The company traded as low as $118.24 and last traded at $118.24. 148,665 shares changed hands during trading, a decline of 74% from the average session volume of 563,987 shares. The stock had previously closed at $121.70.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Benchmark reissued a "buy" rating and set a $120.00 target price on shares of MACOM Technology Solutions in a report on Thursday, September 12th. Stifel Nicolaus increased their price target on MACOM Technology Solutions from $115.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, July 18th. JPMorgan Chase & Co. increased their price target on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Piper Sandler increased their price target on MACOM Technology Solutions from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Friday. Finally, Barclays increased their price target on MACOM Technology Solutions from $115.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

MACOM Technology Solutions Stock Down 3.4 %

The company has a market capitalization of $8.48 billion, a PE ratio of 133.20, a price-to-earnings-growth ratio of 4.33 and a beta of 1.70. The company has a quick ratio of 6.33, a current ratio of 8.18 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $107.66 and a two-hundred day moving average of $105.04.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. The business had revenue of $190.50 million during the quarter, compared to analyst estimates of $190.42 million. During the same period last year, the business posted $0.42 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts predict that MACOM Technology Solutions Holdings, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at MACOM Technology Solutions

In other news, SVP Robert Dennehy sold 6,915 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total transaction of $701,042.70. Following the completion of the transaction, the senior vice president now directly owns 19,481 shares in the company, valued at $1,974,983.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Susan Ocampo sold 95,743 shares of MACOM Technology Solutions stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $103.18, for a total value of $9,878,762.74. Following the completion of the transaction, the director now directly owns 6,876,284 shares in the company, valued at approximately $709,494,983.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Robert Dennehy sold 6,915 shares of MACOM Technology Solutions stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total value of $701,042.70. Following the completion of the transaction, the senior vice president now owns 19,481 shares of the company's stock, valued at approximately $1,974,983.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 654,861 shares of company stock worth $69,430,533 over the last ninety days. Company insiders own 22.75% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in MACOM Technology Solutions in the second quarter valued at $39,000. GAMMA Investing LLC raised its stake in MACOM Technology Solutions by 153.0% in the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company's stock valued at $52,000 after buying an additional 283 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in MACOM Technology Solutions in the third quarter valued at $66,000. FSC Wealth Advisors LLC acquired a new stake in MACOM Technology Solutions in the second quarter valued at $78,000. Finally, Fidelis Capital Partners LLC acquired a new stake in MACOM Technology Solutions in the first quarter valued at $77,000. 76.14% of the stock is currently owned by hedge funds and other 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.

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