Needham & Company LLC restated their buy rating on shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in a research note published on Tuesday. The brokerage currently has a $45.00 price target on the semiconductor company’s stock, down from their previous price target of $56.00.

“MTSI shares traded down 12% yesterday on a competitor’s downgrade. Having reviewed the points raised in the downgrade, we see many common themes that have been key tenants of the bear case on MACOM for the past several quarters but we don’t see a lot of new news. The bear themes include weakness in China telecom spending, questions around the prices paid for and accretion from recent acquisitions, a lack of consistent strong cash flow and timing uncertainty around the ramp of 100G single-lambda PAM4 solutions. While our competitor redeuced December quarter estimates to be flat Q/Q (in-line with Street), we agree the consensus CY18 revenue ramp now looks aggressive. Accordingly, we are reducing our CY18 estimates.”,” Needham & Company LLC’s analyst wrote.

A number of other brokerages have also issued reports on MTSI. Jefferies Group LLC reissued a buy rating and issued a $61.00 target price (down previously from $66.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, August 2nd. Stifel Nicolaus cut their target price on 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. Barclays PLC reissued an overweight rating and issued a $63.00 target price (down previously from $70.00) on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, August 2nd. BidaskClub raised MACOM Technology Solutions Holdings from a hold rating to a buy rating in a research report on Thursday, July 13th. Finally, Raymond James Financial, Inc. reissued a market perform rating on shares of MACOM Technology Solutions Holdings in a research report on Thursday, September 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $51.83.

Shares of MACOM Technology Solutions Holdings (NASDAQ:MTSI) traded up 1.22% on Tuesday, reaching $38.16. The company had a trading volume of 298,665 shares. The stock’s market capitalization is $2.45 billion. The company’s 50 day moving average price is $43.59 and its 200-day moving average price is $50.72. MACOM Technology Solutions Holdings has a 1-year low of $35.33 and a 1-year high of $65.99.

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

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In other MACOM Technology Solutions Holdings news, SVP Donghyun Thomas Hwang sold 11,241 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $64.26, for a total value of $722,346.66. Following the completion of the transaction, the senior vice president now owns 19,018 shares in the company, valued at $1,222,096.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Croteau sold 2,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $45.20, for a total transaction of $90,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,892 shares of company stock valued at $1,418,593. Insiders own 57.10% of the company’s stock.

Several large investors have recently bought and sold shares of MTSI. Strs Ohio acquired a new position in shares of MACOM Technology Solutions Holdings in the second quarter worth $105,000. Oppenheimer Asset Management Inc. acquired a new position in shares of MACOM Technology Solutions Holdings during the first quarter worth $116,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MACOM Technology Solutions Holdings by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,174 shares of the semiconductor company’s stock worth $121,000 after purchasing an additional 199 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of MACOM Technology Solutions Holdings by 7.9% during the first quarter. Fifth Third Bancorp now owns 2,590 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 189 shares in the last quarter. Finally, Advisor Group Inc. grew its stake in shares of MACOM Technology Solutions Holdings by 6.6% during the second quarter. Advisor Group Inc. now owns 2,300 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 143 shares in the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.

About MACOM Technology Solutions Holdings

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.

Analyst Recommendations for MACOM Technology Solutions Holdings (NASDAQ:MTSI)

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