MACOM Technology Solutions (NASDAQ:MTSI) Shares Gap Up – Still a Buy?

by · The Markets Daily

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $121.92, but opened at $140.00. MACOM Technology Solutions shares last traded at $133.65, with a volume of 156,222 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC boosted their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler upped their target price on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $120.00 price objective on shares of MACOM Technology Solutions in a research report on Thursday, September 12th. Finally, Barclays boosted their target price on MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, MACOM Technology Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Read Our Latest Stock Report on MTSI

MACOM Technology Solutions Trading Up 13.0 %

The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 8.18. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 136.32, a price-to-earnings-growth ratio of 4.33 and a beta of 1.69. The firm has a fifty day moving average price of $109.42 and a 200-day moving average price of $106.05.

Insiders Place Their Bets

In other news, CFO John Kober sold 2,671 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $117.47, for a total transaction of $313,762.37. Following the completion of the sale, the chief financial officer now owns 47,221 shares of the company’s stock, valued at approximately $5,547,050.87. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO John Kober sold 2,671 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $117.47, for a total transaction of $313,762.37. Following the completion of the transaction, the chief financial officer now owns 47,221 shares of the company’s stock, valued at approximately $5,547,050.87. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen G. Daly sold 7,122 shares of MACOM Technology Solutions stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $112.53, for a total value of $801,438.66. Following the completion of the transaction, the chief executive officer now owns 55,826 shares in the company, valued at approximately $6,282,099.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 669,396 shares of company stock worth $71,106,808 over the last ninety days. Corporate insiders own 22.75% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in MTSI. Opal Wealth Advisors LLC bought a new position in shares of MACOM Technology Solutions in the 2nd quarter valued at $39,000. GAMMA Investing LLC increased its holdings in MACOM Technology Solutions by 153.0% in the 2nd quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 283 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in MACOM Technology Solutions in the third quarter valued at about $66,000. FSC Wealth Advisors LLC acquired a new stake in shares of MACOM Technology Solutions during the second quarter valued at about $78,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of MACOM Technology Solutions by 303.5% during the third quarter. Farther Finance Advisors LLC now owns 920 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 692 shares during the last quarter. 76.14% of the stock is currently owned by institutional investors and hedge funds.

About MACOM Technology Solutions

(Get Free Report)

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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