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 (MTSIResearch Report), with a price target of $17. The company’s shares opened today at $13.90, close to its 52-week low of $12.33.

According to TipRanks.com, Bolton is a top 100 analyst with an average return of 15.5% and a 65.0% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as Quantenna Communications, Applied Materials Inc, and Ultra Clean Holdings.

MACOM Technology Solutions Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $16.94, implying a 21.9% upside from current levels. In a report released today, Northland Securities also assigned a Buy rating to the stock with a $17.50 price target.

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The company has a one-year high of $25.82 and a one-year low of $12.33. Currently, MACOM Technology Solutions Holdings Inc has an average volume of 944.1K.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MTSI in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.