Ambra (WA:AMB) R. Roth, Senior Vice President, General Counsel, and Secretary of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI), recently sold a significant portion of the company's stock. The transaction comes as MACOM's shares have delivered impressive returns, with the stock up 48% year-to-date and trading near its 52-week high of $143.90. According to a recent SEC filing, Roth sold a total of 13,980 shares on December 4th, amounting to approximately $1.99 million. The shares were sold at prices ranging from $141.17 to $143.69. Following these transactions, Roth retains ownership of 7,930 shares in the company. The sales were executed as part of a predetermined trading plan under Rule 10b5-1. Based on InvestingPro analysis, MACOM appears overvalued at its current market capitalization of $10.05 billion, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other top stocks.
In other recent news, MACOM Technology Solutions has been the subject of noteworthy developments. The company reported record-breaking financial results for the fourth fiscal quarter of 2024, with a quarterly revenue of $200.7 million and an adjusted earnings per share (EPS) of $0.73. The full-year revenue amounted to $729.6 million, which yielded an EPS of $2.56.
In addition to these financial results, MACOM completed the acquisition of ENGIN-IC, a move aimed at enhancing its microwave IC design capabilities for defense applications. The company's projected revenue for fiscal Q1 2025 is between $212 million and $218 million, with an adjusted EPS of $0.75 to $0.81.
Needham & Company upgraded MACOM's stock price target to $150 from the previous $120, maintaining a Buy rating. The upgrade followed MACOM's recent financial results, which met analysts' projections and included a strong forecast. Needham highlighted the company's exceptional performance in the Data Center business and anticipated significant revenue increases from this sector.
Despite potential volatility in the AI architecture sector, MACOM is optimistic about its growth trajectory, aiming to surpass an annualized revenue run rate of $1 billion by fiscal year 2026. The company also anticipates sequential revenue growth across all end markets, especially in data centers with an expected 15% growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.