In a recent SEC filing, Ritchie John, a director at MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI), reported the sale of 3,000 shares of common stock. The transaction, executed on November 25, 2024, was completed at a price of $138.02 per share, amounting to a total value of $414,060. Following this sale, John holds 8,640 shares directly. This move provides a glimpse into the trading activities of the company's insiders.
In other recent news, MACOM Technology Solutions reported a record-breaking fourth fiscal quarter in 2024, with a quarterly revenue of $200.7 million and an adjusted earnings per share (EPS) of $0.73. The full-year revenue reached $729.6 million, resulting in an EPS of $2.56. The company also completed the acquisition of ENGIN-IC to boost its microwave IC design capabilities for defense applications.
In recent developments, Needham & Company upgraded MACOM's stock price target to $150 from the previous $120, maintaining a Buy rating. The upgrade follows strong financial results and a robust forecast, particularly in the Data Center sector. Needham anticipates new optical technologies to become significant contributors to MACOM's revenue stream, possibly as early as fiscal year 2025.
Looking forward, MACOM projects revenue between $212 million and $218 million and an adjusted EPS of $0.75 to $0.81 for fiscal Q1 2025. The company aims to surpass an annualized revenue run rate of $1 billion by fiscal year 2026, with a focus on enhancing its semiconductor technologies leadership. Despite potential volatility in the semiconductor industry, MACOM remains optimistic about its growth trajectory.
InvestingPro Insights
MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) has been experiencing significant growth and investor interest, as reflected in both its financial performance and stock price movements. According to InvestingPro data, MTSI's stock has shown a strong return of 59.02% over the past year, with a 31.57% increase in the last six months alone. This upward trend aligns with the recent insider sale by director Ritchie John, potentially indicating a perception of the stock being near its peak value.
The company's financial health appears robust, with revenue growing by 12.52% over the last twelve months to $729.58 million. MTSI's gross profit margin stands at an impressive 53.97%, suggesting efficient operations and strong pricing power in its market segment.
InvestingPro Tips highlight that MTSI is trading near its 52-week high and at high valuation multiples across various metrics, including earnings, EBIT, and revenue. This could explain why insiders might consider it an opportune time to realize gains. Additionally, analysts remain optimistic about MTSI's prospects, with net income expected to grow this year and 10 analysts revising their earnings estimates upward for the upcoming period.
For investors seeking a more comprehensive analysis, InvestingPro offers 18 additional tips for MACOM Technology Solutions Holdings, providing a deeper understanding of the company's financial position and market outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.