Investors Take Note: MTSI Receives Strong Buy Rating with 35% Higher Price Target

By Don Francis, Editor
May 14, 2024 9:33 AM UTC
Investors Take Note: MTSI Receives Strong Buy Rating with 35% Higher Price Target

Jefferies's Blayne Curtis assumed coverage on Macom Technology Solutions Holdings (NASDAQ: MTSI) with a Strong Buy rating. The analyst also raised their price target by 35% from $100 to $135.

Curtis took coverage of the U.S. semiconductor names "with a bullish long-term view into a strong upcycle with duration." The analyst explained that the sector is "still early in the cycle" and that this particular cycle will be even stronger with AI.

Alongside the initiation of coverage on MTSI, on May 13, 2024, Curtis made several changes to other names in their portfolio. They lowered their price target on Applied Materials Inc by -2.3% from $215 to $210, downgrading the stock from Strong Buy to Hold. Curtis also lowered their price target on Interdigital Inc by -5.7% from $106 to $100, downgrading the stock from Strong Buy to Hold. Navitas Semiconductor Corp saw their price target lowered by -60% from $10 to $4, with the stock being downgraded from Strong Buy to Hold. Additionally, Curtis lowered their price target on Arteris Inc by -18.2% from $11 to $9, also downgrading the stock from Strong Buy to Hold. However, Advanced Micro Devices Inc's price target was lowered by -5% from $200 to $190, but Curtis maintained their Strong Buy rating on the stock.

According to data from WallStreetZen, Curtis is ranked in the top 4% out of 4,581 Wall Street analysts, with an average return of 13.4% and a 50% win rate. They specialize in the Technology and Communication Services sectors.

The consensus among analysts is that MTSI's upcoming year will deliver earnings per share (EPS) of $1.77. If the analysts are correct, MTSI's next yearly EPS will be up by 97.2% on a year-over-year basis.

Since MTSI's last quarterly report on March 29, 2024, the stock price has increased by 7.3%. Year-over-year, the stock is up by an impressive 79.6%. During that period, MTSI has outperformed the S&P 500, which is up 26.2%.

MACOM Technology Solutions Holdings, Inc. is a company that designs and manufactures analog semiconductor solutions for various applications. Their products are used in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum. The company serves markets like telecommunication, industrial and defense, and data centers. They sell their products through various channels, including direct sales force, applications engineering staff, and distributors.

What are the top analysts forecasting for MTSI?

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