MACOM Technology Solutions Holdings, Inc. (MTSI) Trading Down 25.5% After Earnings Miss

Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) were down 25.5% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $45.10 and last traded at $45.50, with a volume of 7,270,287 shares changing hands. The stock had previously closed at $61.06.

The semiconductor company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by $0.01. MACOM Technology Solutions Holdings had a positive return on equity of 17.21% and a negative net margin of 22.43%. The business had revenue of $194.56 million for the quarter, compared to analysts’ expectations of $194.93 million. During the same period last year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis.

A number of analysts recently weighed in on MTSI shares. Needham & Company LLC upped their price target on shares of MACOM Technology Solutions Holdings from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. BidaskClub lowered shares of MACOM Technology Solutions Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC boosted their price objective on shares of MACOM Technology Solutions Holdings from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus boosted their price objective on shares of MACOM Technology Solutions Holdings from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Zacks Investment Research lowered shares of MACOM Technology Solutions Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. MACOM Technology Solutions Holdings has an average rating of “Hold” and an average target price of $55.50.

In related news, CFO Robert Mcmullan sold 30,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $56.24, for a total transaction of $1,687,200.00. Following the sale, the chief financial officer now owns 64,506 shares in the company, valued at $3,627,817.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman John L. Ocampo sold 299,500 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $57.34, for a total transaction of $17,173,330.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 495,205 shares of company stock worth $28,724,537. 42.30% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in MTSI. Strs Ohio acquired a new stake in MACOM Technology Solutions Holdings during the second quarter valued at $105,000. First Mercantile Trust Co. boosted its position in MACOM Technology Solutions Holdings by 24.2% in the first quarter. First Mercantile Trust Co. now owns 2,372 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 462 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in MACOM Technology Solutions Holdings during the first quarter valued at approximately $116,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MACOM Technology Solutions Holdings by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,174 shares of the semiconductor company’s stock valued at $121,000 after buying an additional 199 shares during the period. Finally, Fifth Third Bancorp boosted its position in MACOM Technology Solutions Holdings by 7.9% in the first quarter. Fifth Third Bancorp now owns 2,590 shares of the semiconductor company’s stock valued at $125,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 72.99% of the company’s stock.

The company has a 50-day moving average of $55.85 and a 200-day moving average of $51.80. The stock’s market capitalization is $2.62 billion.

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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.

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