M/A-Com Technology Solutions Holdings Inc. (MTSI) Shares Gap Up to $41.30
M/A-Com Technology Solutions Holdings Inc. (NASDAQ:MTSI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $40.98, but opened at $41.30. M/A-Com Technology Solutions Holdings shares last traded at $42.66, with a volume of 267,977 shares traded.
MTSI has been the subject of a number of recent research reports. Zacks Investment Research cut M/A-Com Technology Solutions Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Barclays PLC reissued a “buy” rating and issued a $44.00 target price on shares of M/A-Com Technology Solutions Holdings in a report on Thursday, July 28th. Needham & Company LLC reissued a “buy” rating and issued a $49.00 target price on shares of M/A-Com Technology Solutions Holdings in a report on Wednesday, July 27th. Jefferies Group reissued a “buy” rating and issued a $51.00 target price (up from $50.00) on shares of M/A-Com Technology Solutions Holdings in a report on Thursday, April 28th. Finally, Bank of America Corp. cut M/A-Com Technology Solutions Holdings from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $47.00 to $38.00 in a report on Monday, June 27th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.75.
The company’s 50-day moving average price is $37.55 and its 200 day moving average price is $38.36. The stock has a market cap of $2.27 billion and a PE ratio of 44.72.
M/A-Com Technology Solutions Holdings (NASDAQ:MTSI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. During the same quarter in the prior year, the firm earned $0.33 EPS. The firm had revenue of $142.30 million for the quarter, compared to the consensus estimate of $140.02 million. The company’s revenue was up 30.4% on a year-over-year basis. Equities research analysts predict that M/A-Com Technology Solutions Holdings Inc. will post $1.93 earnings per share for the current fiscal year.
In related news, CEO John Croteau sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $32.65, for a total value of $65,300.00. Following the completion of the sale, the chief executive officer now directly owns 126,306 shares in the company, valued at $4,123,890.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Robert Dennehy sold 8,125 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $39.90, for a total value of $324,187.50. Following the completion of the sale, the senior vice president now owns 63,584 shares of the company’s stock, valued at $2,537,001.60. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in M/A-Com Technology Solutions Holdings stock. New York State Common Retirement Fund increased its stake in shares of M/A-Com Technology Solutions Holdings Inc. (NASDAQ:MTSI) by 122.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,420 shares of the company’s stock after buying an additional 27,220 shares during the period. New York State Common Retirement Fund owned about 0.09% of M/A-Com Technology Solutions Holdings worth $2,021,000 as of its most recent SEC filing.
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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