J.P. Morgan Sticks to Its Underweight Rating for MACOM Technology Solutions Holdings (MTSI)

By George MacDonald

In a report issued on July 30, Harlan Sur from J.P. Morgan reiterated an Underweight rating on MACOM Technology Solutions Holdings (NASDAQ: MTSI), with a price target of $35.00. The company’s shares closed last Friday at $39.98, close to its 52-week high of $44.69.

Currently, the analyst consensus on MACOM Technology Solutions Holdings is a Moderate Buy with an average price target of $44.57.

According to TipRanks.com, Sur is a 5-star analyst with an average return of 18.4% and a 66.2% success rate. Sur covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Kla-Tencor.

Based on MACOM Technology Solutions Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $137 million and GAAP net loss of $24.98 million. In comparison, last year the company earned revenue of $108 million and had a GAAP net loss of $325 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MTSI in relation to earlier this year.

MACOM Technology Solutions Holdings, Inc. engages in the design, development, manufacture and market of semiconductors and modules. Its products include integrated circuits (IC), multi-chip modules (MCM), power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and complete subsystems. The company was founded on March 25, 2009 and is headquartered in Lowell, MA.