MACOM Technology Solutions (NASDAQ:MTSI) Issues Q3 Earnings Guidance

MACOM Technology Solutions (NASDAQ:MTSI) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.63-$0.69 for the period, compared to the consensus EPS estimate of $0.65. The company issued revenue guidance of $187-$193 million, compared to the consensus revenue estimate of $188.23 million.

MACOM Technology Solutions Trading Up 3.9 %

MTSI stock opened at $102.85 on Friday. MACOM Technology Solutions has a 1-year low of $48.53 and a 1-year high of $104.90. The firm has a market cap of $7.41 billion, a P/E ratio of 116.88, a P/E/G ratio of 6.52 and a beta of 1.65. The business’s 50 day moving average is $96.16 and its 200-day moving average is $88.28. The company has a current ratio of 7.34, a quick ratio of 5.69 and a debt-to-equity ratio of 0.47.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. MACOM Technology Solutions had a return on equity of 12.67% and a net margin of 10.01%. The company had revenue of $157.15 million for the quarter, compared to analyst estimates of $151.12 million. Equities analysts anticipate that MACOM Technology Solutions will post 2.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MTSI shares. Evercore ISI started coverage on MACOM Technology Solutions in a research note on Tuesday, April 16th. They issued an outperform rating and a $120.00 price objective on the stock. Stifel Nicolaus increased their price target on MACOM Technology Solutions from $105.00 to $115.00 and gave the stock a buy rating in a research report on Thursday, April 18th. TheStreet lowered MACOM Technology Solutions from a b rating to a c+ rating in a research report on Thursday, February 1st. Craig Hallum increased their price target on MACOM Technology Solutions from $95.00 to $120.00 and gave the stock a buy rating in a research report on Friday. Finally, Needham & Company LLC increased their price target on MACOM Technology Solutions from $100.00 to $110.00 and gave the stock a buy rating in a research report on Friday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, MACOM Technology Solutions has an average rating of Moderate Buy and an average price target of $105.78.

Insiders Place Their Bets

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 2,210 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $83.79, for a total transaction of $185,175.90. Following the transaction, the senior vice president now owns 35,197 shares of the company’s stock, valued at approximately $2,949,156.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Susan Ocampo sold 65,993 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $80.01, for a total value of $5,280,099.93. Following the transaction, the director now owns 8,045,668 shares of the company’s stock, valued at approximately $643,733,896.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert Dennehy sold 2,210 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $83.79, for a total value of $185,175.90. Following the completion of the transaction, the senior vice president now directly owns 35,197 shares in the company, valued at approximately $2,949,156.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 804,824 shares of company stock valued at $68,127,415. 22.75% of the stock is currently owned by corporate insiders.

MACOM Technology Solutions Company Profile

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.