Needham Thinks MACOM Technology Solutions Holdings Inc’s Stock is Going to Recover


In a report released today, Quinn Bolton from Needham maintained a Buy rating on MACOM Technology Solutions Holdings Inc (MTSI), with a price target of $27. The company’s shares closed on Friday at $16.78, close to its 52-week low of $13.07.

Bolton observed:

“In conjunction with our industry report published this morning entitled, “CES Meetings Highlight Cautious Demand Environment in C1H19″, we are reducing revenue and NG EPS estimates for the majority of our semiconductor companies under coverage including MACOM.”

According to TipRanks.com, Bolton is a 5-star analyst with an average return of 11.5% and a 61.9% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Quantenna Communications, and Applied Materials Inc.

Currently, the analyst consensus on MACOM Technology Solutions Holdings Inc is a Hold with an average price target of $20.40.

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The company has a one-year high of $37.34 and a one-year low of $13.07. Currently, MACOM Technology Solutions Holdings Inc has an average volume of 839.5K.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock.

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MACOM Technology Solutions Holdings, Inc. engages in the design, development, manufacture and market of semiconductors and modules. It 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.

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