MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) announced its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.68 by $0.01, Briefing.com reports. MACOM Technology Solutions Holdings had a positive return on equity of 17.21% and a negative net margin of 22.43%. The firm had revenue of $194.56 million during the quarter, compared to analysts’ expectations of $194.93 million. During the same period last year, the business posted $0.51 EPS. The company’s revenue was up 36.7% compared to the same quarter last year. MACOM Technology Solutions Holdings updated its Q4 guidance to $0.45-0.50 EPS.
MACOM Technology Solutions Holdings (NASDAQ MTSI) traded down 0.51% during mid-day trading on Friday, reaching $40.76. The company had a trading volume of 742,781 shares. MACOM Technology Solutions Holdings has a 1-year low of $35.33 and a 1-year high of $65.99. The firm has a 50-day moving average of $55.85 and a 200 day moving average of $51.80. The company’s market capitalization is $2.62 billion.
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In related news, Chairman John L. Ocampo sold 299,500 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $57.34, for a total value of $17,173,330.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman John L. Ocampo sold 59,750 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $61.04, for a total value of $3,647,140.00. The disclosure for this sale can be found here. Insiders have sold 495,205 shares of company stock worth $28,724,537 in the last ninety days. Corporate insiders own 42.30% of the company’s stock.
Several research analysts have commented on MTSI shares. Zacks Investment Research downgraded MACOM Technology Solutions Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Barclays PLC restated an “overweight” rating and issued a $63.00 target price (down previously from $70.00) on shares of MACOM Technology Solutions Holdings in a research note on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $56.00 price target (down previously from $65.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $61.00 price target (down previously from $66.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus dropped their price target on MACOM Technology Solutions Holdings from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.50.
About MACOM Technology Solutions Holdings
MACOM Technology Solutions Holdings, Inc is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia.
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