MACOM Technology Solutions (NASDAQ:MTSI) Updates Q4 2022 Earnings Guidance

MACOM Technology Solutions (NASDAQ:MTSIGet Rating) updated its fourth quarter 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $0.74-$0.78 for the period, compared to the consensus earnings per share estimate of $0.74. The company issued revenue guidance of $175.00 million-$180.00 million, compared to the consensus revenue estimate of $177.85 million. MACOM Technology Solutions also updated its Q4 guidance to $0.74-0.78 EPS.

Analyst Ratings Changes

MTSI has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of MACOM Technology Solutions in a research report on Thursday, March 31st. They set a buy rating for the company. Piper Sandler cut their price objective on shares of MACOM Technology Solutions from $85.00 to $65.00 and set an overweight rating for the company in a research report on Thursday, June 23rd. Cowen set a $55.00 price objective on shares of MACOM Technology Solutions in a research report on Tuesday, July 19th. Craig Hallum cut their price objective on shares of MACOM Technology Solutions from $95.00 to $70.00 and set a buy rating for the company in a research report on Thursday, April 14th. Finally, Jefferies Financial Group raised shares of MACOM Technology Solutions from a hold rating to a buy rating and set a $64.00 price objective for the company in a research report on Friday, April 29th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $72.60.

MACOM Technology Solutions Price Performance

Shares of MTSI stock traded up $1.35 on Thursday, reaching $55.91. The company had a trading volume of 10,175 shares, compared to its average volume of 447,284. The business’s 50-day moving average is $49.74 and its 200 day moving average is $55.26. MACOM Technology Solutions has a one year low of $42.85 and a one year high of $80.30. The company has a quick ratio of 6.50, a current ratio of 7.49 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $3.91 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.48 and a beta of 1.99.

MACOM Technology Solutions (NASDAQ:MTSIGet Rating) last released its quarterly earnings data on Thursday, April 28th. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. MACOM Technology Solutions had a return on equity of 27.62% and a net margin of 31.70%. The company had revenue of $165.15 million during the quarter, compared to the consensus estimate of $163.14 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts forecast that MACOM Technology Solutions will post 2.21 EPS for the current fiscal year.

Insider Activity

In other news, SVP Ambra R. Roth sold 6,903 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $50.00, for a total value of $345,150.00. Following the completion of the transaction, the senior vice president now owns 23,681 shares of the company’s stock, valued at $1,184,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other MACOM Technology Solutions news, SVP Ambra R. Roth sold 6,903 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $50.00, for a total transaction of $345,150.00. Following the completion of the sale, the senior vice president now owns 23,681 shares of the company’s stock, valued at approximately $1,184,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles R. Bland sold 6,000 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $51.06, for a total transaction of $306,360.00. Following the sale, the director now directly owns 32,257 shares of the company’s stock, valued at approximately $1,647,042.42. The disclosure for this sale can be found here. Insiders sold 17,085 shares of company stock valued at $872,069 over the last quarter. 28.30% of the stock is owned by company insiders.

Institutional Trading of MACOM Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd grew its position in shares of MACOM Technology Solutions by 97.7% during the 1st quarter. Covestor Ltd now owns 1,621 shares of the semiconductor company’s stock worth $97,000 after buying an additional 801 shares during the period. Raymond James & Associates acquired a new stake in shares of MACOM Technology Solutions during the 1st quarter worth approximately $354,000. Engineers Gate Manager LP acquired a new stake in shares of MACOM Technology Solutions during the 1st quarter worth approximately $638,000. PDT Partners LLC acquired a new stake in shares of MACOM Technology Solutions during the 1st quarter worth approximately $795,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of MACOM Technology Solutions by 64.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 20,060 shares of the semiconductor company’s stock worth $1,201,000 after buying an additional 7,859 shares during the period. Institutional investors and hedge funds own 97.56% of the company’s stock.

About MACOM Technology Solutions

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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, the Asia Pacific, and internationally.

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