Analysts Expect MACOM Technology Solutions Holdings, Inc. (MTSI) Will Post Quarterly Sales of $196.00 Million

Analysts expect MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) to announce $196.00 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for MACOM Technology Solutions Holdings’ earnings. MACOM Technology Solutions Holdings reported sales of $142.29 million during the same quarter last year, which indicates a positive year over year growth rate of 37.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 25th.

According to Zacks, analysts expect that MACOM Technology Solutions Holdings will report full-year sales of $196.00 million for the current fiscal year, with estimates ranging from $737.70 million to $739.90 million. For the next financial year, analysts anticipate that the firm will report sales of $872.02 million per share, with estimates ranging from $859.00 million to $897.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover MACOM Technology Solutions Holdings.

MACOM Technology Solutions Holdings (NASDAQ:MTSI) last issued its quarterly earnings results on Tuesday, April 25th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The company had revenue of $186.08 million for the quarter, compared to analysts’ expectations of $182.73 million. MACOM Technology Solutions Holdings had a positive return on equity of 17.86% and a negative net margin of 16.35%. The firm’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 earnings per share.

Several research analysts recently weighed in on MTSI shares. Needham & Company LLC increased their price objective on MACOM Technology Solutions Holdings from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday. Barclays PLC increased their price objective on MACOM Technology Solutions Holdings from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, April 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of MACOM Technology Solutions Holdings in a research report on Wednesday, May 17th. Stifel Nicolaus increased their price objective on MACOM Technology Solutions Holdings from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, June 6th. Finally, Zacks Investment Research lowered MACOM Technology Solutions Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. MACOM Technology Solutions Holdings currently has an average rating of “Buy” and an average target price of $55.57.

In other MACOM Technology Solutions Holdings news, CEO John Croteau sold 56,956 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $50.27, for a total transaction of $2,863,178.12. Following the transaction, the chief executive officer now directly owns 196,473 shares in the company, valued at $9,876,697.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Mcmullan sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $56.24, for a total value of $1,687,200.00. Following the transaction, the chief financial officer now owns 64,506 shares in the company, valued at $3,627,817.44. The disclosure for this sale can be found here. Insiders sold 631,299 shares of company stock valued at $35,245,920 over the last quarter. 57.10% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in MACOM Technology Solutions Holdings by 20.7% in the first quarter. Wellington Management Group LLP now owns 4,204,202 shares of the semiconductor company’s stock worth $203,064,000 after buying an additional 721,929 shares during the period. Vanguard Group Inc. boosted its position in MACOM Technology Solutions Holdings by 37.0% in the first quarter. Vanguard Group Inc. now owns 3,174,795 shares of the semiconductor company’s stock worth $153,343,000 after buying an additional 857,449 shares during the period. Jennison Associates LLC boosted its position in MACOM Technology Solutions Holdings by 1.1% in the first quarter. Jennison Associates LLC now owns 2,227,382 shares of the semiconductor company’s stock worth $107,583,000 after buying an additional 24,414 shares during the period. BlackRock Inc. boosted its position in MACOM Technology Solutions Holdings by 108,171.0% in the first quarter. BlackRock Inc. now owns 2,052,819 shares of the semiconductor company’s stock worth $99,151,000 after buying an additional 2,050,923 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in MACOM Technology Solutions Holdings by 27.0% in the first quarter. Neuberger Berman Group LLC now owns 1,336,109 shares of the semiconductor company’s stock worth $64,534,000 after buying an additional 284,331 shares during the period. Institutional investors own 72.79% of the company’s stock.

Shares of MACOM Technology Solutions Holdings (MTSI) traded down 4.30% during midday trading on Friday, reaching $57.66. The company had a trading volume of 774,489 shares. MACOM Technology Solutions Holdings has a 1-year low of $29.56 and a 1-year high of $61.70. The stock’s market capitalization is $3.68 billion. The firm’s 50 day moving average price is $54.95 and its 200-day moving average price is $49.76.

WARNING: “Analysts Expect MACOM Technology Solutions Holdings, Inc. (MTSI) Will Post Quarterly Sales of $196.00 Million” was posted by sleekmoney and is the sole property of of sleekmoney. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://sleekmoney.com/analysts-expect-macom-technology-solutions-holdings-inc-mtsi-will-post-quarterly-sales-of-196-00-million/1944574.html.

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.

Get a free copy of the Zacks research report on MACOM Technology Solutions Holdings (MTSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MACOM Technology Solutions Holdings (NASDAQ:MTSI)

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/analysts-expect-macom-technology-solutions-holdings-inc-mtsi-will-post-quarterly-sales-of-196-00-million/1944574.html

Receive News & Ratings for MACOM Technology Solutions Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MACOM Technology Solutions Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *