Jefferies Financial Group Analysts Lower Earnings Estimates for MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Get Rating) - Investment analysts at Jefferies Financial Group reduced their FY2022 earnings estimates for shares of MACOM Technology Solutions in a research report issued to clients and investors on Thursday, October 13th. Jefferies Financial Group analyst M. Lipacis now forecasts that the semiconductor company will post earnings of $2.24 per share for the year, down from their previous forecast of $2.26. The consensus estimate for MACOM Technology Solutions' current full-year earnings is $2.26 per share. Jefferies Financial Group also issued estimates for MACOM Technology Solutions' Q4 2022 earnings at $0.60 EPS, Q1 2023 earnings at $0.54 EPS and FY2023 earnings at $1.44 EPS.

Several other research analysts also recently issued reports on the stock. Cowen upped their price target on shares of MACOM Technology Solutions from $55.00 to $68.00 in a research report on Friday, July 29th. Northland Securities cut their target price on shares of MACOM Technology Solutions from $75.00 to $70.00 in a research report on Friday, July 29th. StockNews.com assumed coverage on shares of MACOM Technology Solutions in a research report on Wednesday, October 12th. They set a "buy" rating on the stock. Piper Sandler upped their target price on shares of MACOM Technology Solutions from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Friday, August 19th. Finally, Needham & Company LLC upped their target price on shares of MACOM Technology Solutions from $57.00 to $62.00 and gave the company a "buy" rating in a research report on Friday, July 29th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $71.55.

MACOM Technology Solutions Stock Down 3.7 %

MTSI opened at $50.37 on Monday. The firm's 50-day simple moving average is $56.19 and its 200-day simple moving average is $53.20. The company has a debt-to-equity ratio of 1.01, a quick ratio of 6.46 and a current ratio of 7.55. MACOM Technology Solutions has a twelve month low of $42.85 and a twelve month high of $80.30. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.29 and a beta of 1.93.

MACOM Technology Solutions (NASDAQ:MTSI - Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The semiconductor company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. MACOM Technology Solutions had a net margin of 33.38% and a return on equity of 27.65%. The firm had revenue of $172.30 million for the quarter, compared to analyst estimates of $170.04 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business's revenue for the quarter was up 12.9% on a year-over-year basis.

Insider Buying and Selling

In related news, SVP Robert Dennehy sold 2,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $52.40, for a total transaction of $104,800.00. Following the completion of the sale, the senior vice president now directly owns 86,650 shares of the company's stock, valued at approximately $4,540,460. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Robert Dennehy sold 2,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $52.40, for a total transaction of $104,800.00. Following the completion of the sale, the senior vice president now directly owns 86,650 shares of the company's stock, valued at approximately $4,540,460. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Douglas J. Carlson sold 3,394 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $66.55, for a total value of $225,870.70. Following the sale, the senior vice president now directly owns 19,646 shares of the company's stock, valued at $1,307,441.30. The disclosure for this sale can be found here. In the last three months, insiders sold 956,220 shares of company stock valued at $56,766,567. 28.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Several hedge funds have recently made changes to their positions in MTSI. SeaCrest Wealth Management LLC bought a new position in shares of MACOM Technology Solutions during the 2nd quarter worth approximately $37,000. CWM LLC grew its stake in shares of MACOM Technology Solutions by 55.9% during the 1st quarter. CWM LLC now owns 664 shares of the semiconductor company's stock worth $40,000 after acquiring an additional 238 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in shares of MACOM Technology Solutions by 69.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,451 shares of the semiconductor company's stock worth $67,000 after acquiring an additional 597 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of MACOM Technology Solutions by 26.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,466 shares of the semiconductor company's stock worth $68,000 after acquiring an additional 308 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of MACOM Technology Solutions during the 2nd quarter worth approximately $78,000. 72.30% of the stock is owned by institutional investors.

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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