Fintel reports that on August 28, 2023, Benchmark upgraded their outlook for MACOM Technology Solutions Holdings (NASDAQ:MTSI) from Hold to Buy .
Analyst Price Forecast Suggests 16.77% Downside
As of August 2, 2023, the average one-year price target for MACOM Technology Solutions Holdings is 67.04. The forecasts range from a low of 50.50 to a high of $78.75. The average price target represents a decrease of 16.77% from its latest reported closing price of 80.55.
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The projected annual revenue for MACOM Technology Solutions Holdings is 731MM, an increase of 8.18%. The projected annual non-GAAP EPS is 3.12.
What is the Fund Sentiment?
There are 632 funds or institutions reporting positions in MACOM Technology Solutions Holdings. This is a decrease of 16 owner(s) or 2.47% in the last quarter. Average portfolio weight of all funds dedicated to MTSI is 0.27%, a decrease of 4.44%. Total shares owned by institutions increased in the last three months by 0.70% to 68,405K shares. 
The put/call ratio of MTSI is 0.46, indicating a bullish outlook.
What are Other Shareholders Doing?
PRNHX - T. Rowe Price New Horizons Fund holds 2,607K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 2,954K shares, representing a decrease of 13.31%. The firm decreased its portfolio allocation in MTSI by 6.20% over the last quarter.
Jpmorgan Chase holds 2,191K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,771K shares, representing an increase of 19.20%. The firm increased its portfolio allocation in MTSI by 713.26% over the last quarter.
T. Rowe Price Investment Management holds 2,188K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 1,251K shares, representing an increase of 42.84%. The firm increased its portfolio allocation in MTSI by 53.77% over the last quarter.
Alliancebernstein holds 2,186K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 2,506K shares, representing a decrease of 14.61%. The firm decreased its portfolio allocation in MTSI by 23.07% over the last quarter.
FSELX - Semiconductors Portfolio holds 2,078K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 1,979K shares, representing an increase of 4.78%. The firm decreased its portfolio allocation in MTSI by 26.79% over the last quarter.
MACOM Technology Solutions Holdings Background Information
(This description is provided by the company.)
MACOM designs and manufactures semiconductor products for Data Center, Telecommunication and Industrial and Defense applications. Headquartered in Lowell, Massachusetts, MACOM has design centers and sales offices throughout North America, Europe and Asia. MACOM is certified to the ISO9001 international quality standard and ISO14001 environmental management standard.
Additional reading:
- MACOM Announces Definitive Agreement to Acquire the RF Business of Wolfspeed, Inc.
- MACOM Reports Fiscal Third Quarter 2023 Financial Results
- MACOM Reports Fiscal Second Quarter 2023 Financial Results
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