MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) is one of the worst performers on the stock market today. At current price of $16.02, the shares have already lost -0.56 points (-3.38% lower) from its previous close of $16.58. Should you buy or avoid them? The stock sets an active trading volume day with a reported 166653 contracts so far this session. MTSI shares had a relatively better volume day versus average trading capacity of 1.03 million shares, but with a 45.32 million float and a 7.45% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MTSI stock indicates that the average analyst price target is $15.65 per share. This means the stock has a potential decrease of -2.31% from where the MTSI share price has been trading recently which is between $16.27 and $16.64. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $11.
The shorts are climbing into MACOM Technology Solutions Holdings, Inc. (MTSI) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in MTSI shares. While short interest still represents only 18.43% of MTSI’s float, the number of shares shorted have risen by 217632. The number of shares shorted advanced to 8570504 shares, up from 8352872 shares during the preceding fortnight. With average daily trading volumes at 1139575 shares, days to cover decreased to about 15.42036 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Why Bulls See Chip Stocks Rising Despite Giant Red Flags” and dated July 02, 2019.
During the recent trading session for MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI), the company witnessed their stock rise $0.87 over a week and surge $1.5 from the price 20 days ago. When compared to their established 52-week high of $25.82, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/13/18. The recent low of $12.33 stood for a -37.96% since 07/05/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.92 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for MACOM Technology Solutions Holdings, Inc., the two-week RSI stands at 60. This figure suggests that MTSI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MTSI readings is similarly very revealing as it has a stochastic reading of 89.62% at this stage. This figure means that MTSI share price today is being oversold.
Technical chart claims that MACOM Technology Solutions Holdings, Inc. (MTSI) would settle between $16.72/share to $16.87/share level. However, if the stock price goes below the $16.35 mark, then the market for MACOM Technology Solutions Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.13 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.68. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Needham lifted target price for shares of MTSI but were stick to Buy recommendation for the stock in their opinion released on June 19. The price target has been raised from $20 to $17. Stifel analysts bumped their rating on MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) stock from Sell to Hold in a separate flash note issued to investors on May 16. Analysts at Craig Hallum released an upgrade from Hold to Buy for the stock, in a research note that dated back to May 08.
MTSI equity has an average rating of 2.91, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MTSI stock price is currently trading at 77.84X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.92 while for the average stock in the same group, the multiple is 2.58.
MACOM Technology Solutions Holdings, Inc. (MTSI)’s current-quarter revenues are projected to climb by nearly -19.86% to hit $110490, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -12.87% from $570400 to a noteworthy $497000. At the other end of the current quarter income statement, MACOM Technology Solutions Holdings, Inc. is expected to see its adjusted earnings surge by roughly -384.62% to hit $-0.37 per share. For the fiscal year, MTSI’s earnings are projected to climb by roughly -182.69% to hit $-0.43 per share.