Benchmark Raises MACOM Technology Solutions (NASDAQ:MTSI) Price Target to $160.00

MACOM Technology Solutions (NASDAQ:MTSI) had its price objective raised by equities research analysts at Benchmark from $120.00 to $160.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price objective points to a potential upside of 16.12% from the stock’s previous close.

Several other brokerages also recently weighed in on MTSI. Piper Sandler lifted their price objective on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays raised their target price on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Needham & Company LLC raised their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Two equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

MACOM Technology Solutions Stock Performance

NASDAQ:MTSI traded down $1.35 during mid-day trading on Friday, hitting $137.79. The stock had a trading volume of 358,233 shares, compared to its average volume of 568,043. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 140.14, a P/E/G ratio of 4.33 and a beta of 1.69. The company has a 50 day simple moving average of $110.02 and a 200-day simple moving average of $106.28. MACOM Technology Solutions has a 52 week low of $72.15 and a 52 week high of $140.27. The company has a current ratio of 8.18, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45.

Insider Transactions at MACOM Technology Solutions

In other news, CEO Stephen G. Daly sold 21,012 shares of MACOM Technology Solutions stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $109.40, for a total value of $2,298,712.80. Following the transaction, the chief executive officer now owns 64,472 shares of the company’s stock, valued at $7,053,236.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other MACOM Technology Solutions news, CEO Stephen G. Daly sold 21,012 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $109.40, for a total value of $2,298,712.80. Following the completion of the transaction, the chief executive officer now directly owns 64,472 shares in the company, valued at $7,053,236.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Donghyun Thomas Hwang sold 4,375 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $104.57, for a total transaction of $457,493.75. Following the completion of the transaction, the senior vice president now owns 37,148 shares of the company’s stock, valued at approximately $3,884,566.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 669,396 shares of company stock valued at $71,106,808 in the last quarter. Insiders own 22.75% of the company’s stock.

Institutional Trading of MACOM Technology Solutions

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of MACOM Technology Solutions by 8.1% during the first quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock worth $592,395,000 after purchasing an additional 465,759 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of MACOM Technology Solutions by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock worth $132,821,000 after purchasing an additional 154,066 shares during the period. Millennium Management LLC boosted its holdings in shares of MACOM Technology Solutions by 958.1% during the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock worth $149,214,000 after purchasing an additional 1,212,094 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of MACOM Technology Solutions by 7.5% during the second quarter. Dimensional Fund Advisors LP now owns 993,316 shares of the semiconductor company’s stock worth $110,722,000 after purchasing an additional 69,689 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in shares of MACOM Technology Solutions by 280.5% during the second quarter. Hood River Capital Management LLC now owns 704,834 shares of the semiconductor company’s stock worth $78,568,000 after purchasing an additional 519,603 shares during the period. 76.14% of the stock is currently owned by institutional investors and hedge funds.

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.