MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday.

According to Zacks, “M/A-COM Technology Solutions Holdings, Inc. provides analog semiconductor solutions for use in wireless and wireline applications across the RF, microwave and millimeterwave spectrum. The Company’s primary markets are Networks which includes CATV, cellular backhaul, cellular infrastructure and fiber optic applications, A&D and Multi-market, which includes automotive, industrial, medical, mobile and scientific applications. It’s product lines include active splitter, amplifier, attenuator, automotive module, capacitor, component, coupler, diode, down converter IC, filter, frequency multiplier, hybrid voltage controlled oscillator, integrated receiver IC, modulator/demodulator, optical modulator driver, phase shifter, power combiner, power detector, power divider, power hybrid pallet, power hybrid transistor, switch, synthesizer, transceiver, transformer, upconverter IC and voltage controlled oscillator. M/A-COM Technology Solutions Holdings, Inc. and is headquartered in Lowell, Massachusetts. “

Several other brokerages have also recently weighed in on MTSI. Jefferies Group LLC reaffirmed a buy rating and issued 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. Stifel Nicolaus dropped their price target on shares of MACOM Technology Solutions Holdings from $64.00 to $57.00 and set a buy rating on the stock in a research report on Wednesday, August 2nd. Needham & Company LLC reaffirmed a buy rating and issued 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. Barclays PLC reaffirmed an overweight rating and issued a $63.00 price target (down previously from $70.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, August 2nd. Finally, BidaskClub raised shares of MACOM Technology Solutions Holdings from a hold rating to a buy rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. MACOM Technology Solutions Holdings presently has an average rating of Hold and a consensus price target of $55.50.

Shares of MACOM Technology Solutions Holdings (NASDAQ:MTSI) opened at 40.76 on Tuesday. The firm’s market cap is $2.62 billion. The company has a 50 day moving average price of $55.85 and a 200-day moving average price of $51.80. MACOM Technology Solutions Holdings has a 52-week low of $35.33 and a 52-week high of $65.99.

MACOM Technology Solutions Holdings (NASDAQ:MTSI) last announced its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.01. MACOM Technology Solutions Holdings had a negative net margin of 22.43% and a positive return on equity of 17.21%. The business had revenue of $194.56 million during the quarter, compared to the consensus estimate of $194.93 million. During the same period in the previous year, the business posted $0.51 EPS. MACOM Technology Solutions Holdings’s revenue was up 36.7% compared to the same quarter last year. On average, analysts expect that MACOM Technology Solutions Holdings will post $2.33 earnings per share for the current fiscal year.

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In other MACOM Technology Solutions Holdings news, SVP Preetinder S. Virk sold 14,980 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $54.19, for a total value of $811,766.20. Following the completion of the sale, the senior vice president now owns 30,443 shares in the company, valued at approximately $1,649,706.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman John L. Ocampo sold 299,500 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $57.34, for a total transaction of $17,173,330.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 495,205 shares of company stock valued at $28,724,537. Company insiders own 42.30% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky raised its stake in MACOM Technology Solutions Holdings by 3.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,938 shares of the semiconductor company’s stock valued at $1,502,000 after buying an additional 819 shares during the period. Parametric Portfolio Associates LLC raised its stake in MACOM Technology Solutions Holdings by 4.5% in the second quarter. Parametric Portfolio Associates LLC now owns 37,015 shares of the semiconductor company’s stock valued at $2,064,000 after buying an additional 1,608 shares during the period. Advisor Group Inc. raised its stake in MACOM Technology Solutions Holdings by 6.6% in the second quarter. Advisor Group Inc. now owns 2,300 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 143 shares during the period. Vanguard Group Inc. raised its stake in MACOM Technology Solutions Holdings by 8.5% in the second quarter. Vanguard Group Inc. now owns 3,444,631 shares of the semiconductor company’s stock valued at $192,107,000 after buying an additional 269,836 shares during the period. Finally, Northern Trust Corp raised its stake in MACOM Technology Solutions Holdings by 27.0% in the second quarter. Northern Trust Corp now owns 548,906 shares of the semiconductor company’s stock valued at $30,613,000 after buying an additional 116,751 shares during the period. Hedge funds and other institutional investors own 72.99% of the company’s stock.

MACOM Technology Solutions Holdings Company Profile

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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