M/A-Com Technology Solutions Holdings Inc. (MTSI) Trading 2.5% Higher
M/A-Com Technology Solutions Holdings Inc. (NASDAQ:MTSI)’s share price traded up 2.5% on Monday . The stock traded as high as $40.89 and last traded at $40.74, with a volume of 236,327 shares trading hands. The stock had previously closed at $39.73.
Several equities analysts recently weighed in on the stock. Craig Hallum restated a “buy” rating on shares of M/A-Com Technology Solutions Holdings in a report on Sunday, July 17th. Needham & Company LLC restated a “buy” rating on shares of M/A-Com Technology Solutions Holdings in a report on Wednesday, April 27th. Jefferies Group restated a “buy” rating and set a $51.00 target price on shares of M/A-Com Technology Solutions Holdings in a report on Friday, May 13th. Bank of America Corp. lowered shares of M/A-Com Technology Solutions Holdings from a “buy” rating to a “neutral” rating and reduced their target price for the company from $47.00 to $38.00 in a report on Monday, June 27th. Finally, Zacks Investment Research upgraded shares of M/A-Com Technology Solutions Holdings from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Saturday, April 30th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. M/A-Com Technology Solutions Holdings has an average rating of “Buy” and an average price target of $46.75.
The firm has a 50 day moving average of $37.17 and a 200-day moving average of $38.28. The company has a market capitalization of $2.22 billion and a P/E ratio of 43.61.
M/A-Com Technology Solutions Holdings (NASDAQ:MTSI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. During the same quarter last year, the company earned $0.33 EPS. The business had revenue of $142.30 million for the quarter, compared to analyst estimates of $140.02 million. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, analysts forecast that M/A-Com Technology Solutions Holdings Inc. will post $1.93 earnings per share for the current fiscal year.
In other news, SVP Preetinder S. Virk sold 3,177 shares of the stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $35.00, for a total transaction of $111,195.00. Following the transaction, the senior vice president now owns 43,946 shares in the company, valued at approximately $1,538,110. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Croteau sold 2,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $36.70, for a total transaction of $73,400.00. Following the transaction, the chief executive officer now owns 128,306 shares in the company, valued at approximately $4,708,830.20. The disclosure for this sale can be found here.
An institutional investor recently raised its position in M/A-Com Technology Solutions Holdings stock. Jennison Associates LLC increased its position in shares of M/A-Com Technology Solutions Holdings Inc. (NASDAQ:MTSI) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,212,952 shares of the company’s stock after buying an additional 90,741 shares during the period. Jennison Associates LLC owned approximately 2.28% of M/A-Com Technology Solutions Holdings worth $49,598,000 at the end of the most recent quarter.
M/A-COM Technology Solutions Holdings, Inc is a provider of analog semiconductor solutions for the use in wireless and wireline applications across the radio frequency (RF) microwave and millimeter wave spectrum. The Company operates in semiconductors and modules segment. The Company’s semiconductor products are electronic components, which include point-to-point wireless backhaul radios, antenna arrays, radar, magnetic resonance imaging systems (MRI) and unmanned aerial vehicles (UAVs).
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