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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash-to-Debt 0.36
MTSI's Cash-to-Debt is ranked lower than
79% of the 855 Companies
in the Global Semiconductors industry.

( Industry Median: 1.62 vs. MTSI: 0.36 )
Ranked among companies with meaningful Cash-to-Debt only.
MTSI' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.11  Med: 0.51 Max: No Debt
Current: 0.36
Equity-to-Asset 0.48
MTSI's Equity-to-Asset is ranked lower than
69% of the 852 Companies
in the Global Semiconductors industry.

( Industry Median: 0.60 vs. MTSI: 0.48 )
Ranked among companies with meaningful Equity-to-Asset only.
MTSI' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.88  Med: 0.45 Max: 0.78
Current: 0.48
-0.88
0.78
Debt-to-Equity 0.88
MTSI's Debt-to-Equity is ranked lower than
79% of the 647 Companies
in the Global Semiconductors industry.

( Industry Median: 0.36 vs. MTSI: 0.88 )
Ranked among companies with meaningful Debt-to-Equity only.
MTSI' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.7  Med: 0.96 Max: 1.97
Current: 0.88
0.7
1.97
Debt-to-EBITDA 11.23
MTSI's Debt-to-EBITDA is ranked lower than
90% of the 546 Companies
in the Global Semiconductors industry.

( Industry Median: 1.78 vs. MTSI: 11.23 )
Ranked among companies with meaningful Debt-to-EBITDA only.
MTSI' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.07  Med: 5.88 Max: 57.02
Current: 11.23
1.07
57.02
Piotroski F-Score: 4
Altman Z-Score: 2.35
Beneish M-Score: -2.63
WACC vs ROIC
10.33%
-9.24%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 3/10

vs
industry
vs
history
Operating Margin % -0.93
MTSI's Operating Margin % is ranked lower than
72% of the 853 Companies
in the Global Semiconductors industry.

( Industry Median: 5.72 vs. MTSI: -0.93 )
Ranked among companies with meaningful Operating Margin % only.
MTSI' s Operating Margin % Range Over the Past 10 Years
Min: -20.94  Med: 2.8 Max: 17.72
Current: -0.93
-20.94
17.72
Net Margin % -22.43
MTSI's Net Margin % is ranked lower than
88% of the 853 Companies
in the Global Semiconductors industry.

( Industry Median: 4.67 vs. MTSI: -22.43 )
Ranked among companies with meaningful Net Margin % only.
MTSI' s Net Margin % Range Over the Past 10 Years
Min: -22.43  Med: 1.45 Max: 11.55
Current: -22.43
-22.43
11.55
ROE % -26.03
MTSI's ROE % is ranked lower than
89% of the 837 Companies
in the Global Semiconductors industry.

( Industry Median: 5.98 vs. MTSI: -26.03 )
Ranked among companies with meaningful ROE % only.
MTSI' s ROE % Range Over the Past 10 Years
Min: -26.03  Med: 1.31 Max: 14.88
Current: -26.03
-26.03
14.88
ROA % -11.84
MTSI's ROA % is ranked lower than
86% of the 862 Companies
in the Global Semiconductors industry.

( Industry Median: 3.09 vs. MTSI: -11.84 )
Ranked among companies with meaningful ROA % only.
MTSI' s ROA % Range Over the Past 10 Years
Min: -11.84  Med: 1.43 Max: 6.3
Current: -11.84
-11.84
6.3
ROC (Joel Greenblatt) % -7.46
MTSI's ROC (Joel Greenblatt) % is ranked lower than
76% of the 860 Companies
in the Global Semiconductors industry.

( Industry Median: 10.68 vs. MTSI: -7.46 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
MTSI' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -20.11  Med: 2.61 Max: 32.67
Current: -7.46
-20.11
32.67
3-Year Revenue Growth Rate 25.60
MTSI's 3-Year Revenue Growth Rate is ranked higher than
90% of the 784 Companies
in the Global Semiconductors industry.

( Industry Median: 2.80 vs. MTSI: 25.60 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
MTSI' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: -67.3 Max: 25.6
Current: 25.6
0
25.6
3-Year EBITDA Growth Rate 47.50
MTSI's 3-Year EBITDA Growth Rate is ranked higher than
88% of the 639 Companies
in the Global Semiconductors industry.

( Industry Median: 5.60 vs. MTSI: 47.50 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
MTSI' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: -74.9 Max: 47.5
Current: 47.5
0
47.5
GuruFocus has detected 2 Warning Signs with MACOM Technology Solutions Holdings Inc MTSI.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» MTSI's 30-Y Financials

Financials (Next Earnings Date: 2017-11-14)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q3 2016

MTSI Guru Trades in Q3 2016

Ron Baron 43,000 sh (+7.50%)
Joel Greenblatt Sold Out
Paul Tudor Jones Sold Out
Chuck Royce 115,000 sh (-20.14%)
Columbia Wanger 617,187 sh (-20.22%)
Jim Simons 10,500 sh (-89.79%)
» More
Q4 2016

MTSI Guru Trades in Q4 2016

Jim Simons 221,200 sh (+2006.67%)
Ron Baron 64,500 sh (+50.00%)
Chuck Royce 86,000 sh (-25.22%)
Columbia Wanger 407,284 sh (-34.01%)
» More
Q1 2017

MTSI Guru Trades in Q1 2017

Ron Baron 92,500 sh (+43.41%)
Chuck Royce 86,000 sh (unchged)
Columbia Wanger Sold Out
Jim Simons Sold Out
» More
Q2 2017

MTSI Guru Trades in Q2 2017

Ron Baron 149,500 sh (+61.62%)
Chuck Royce 103,500 sh (+20.35%)
» More
» Details

Insider Trades

Latest Guru Trades with MTSI

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ron Baron 2017-06-30 Add 61.62%0.02%$44.72 - $60.97 $ 36.86-32%149,500
Ron Baron 2017-03-31 Add 43.41%0.01%$44.57 - $50.01 $ 36.86-21%92,500
Ron Baron 2016-12-31 Add 50.00%0.01%$35.74 - $53.22 $ 36.86-16%64,500
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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Business Description

Industry: Semiconductors » Semiconductors    NAICS: 334413    SIC: 3674
Compare:ROCO:5347, NYSE:MXL, XTAE:TSEM, NYSE:VSH, NAS:CREE, SZSE:002049, TSE:7735, SZSE:002512, NAS:AMKR, NAS:SMTC, ROCO:3105, NAS:MLNX, SZSE:002281, XTER:DLG, NAS:CRUS, TPE:3034, NAS:SLAB, NAS:IDTI, NAS:POWI, SHSE:600584 » details
Traded in other countries:1MA.Germany,
Headquarter Location:USA
MACOM Technology Solutions Holdings Inc offers high-performance analog RF, microwave, millimeterwave & photonic semiconductor products for diverse applications ranging from optical, satellite, wired & wireless networks to military and civil radar systems.

MACOM Technology Solutions Holdings Inc offers high-performance analog RF, microwave, millimeterwave & photonic semiconductor products for diverse applications ranging from optical, satellite, wired & wireless networks to military and civil radar systems.

Guru Investment Theses on MACOM Technology Solutions Holdings Inc

Baron Funds Comments on MACOM Technology Solutions Holdings - Jan 18, 2017

Growth These are companies that typically have revenue growth of 15%-20% that we think will lead to significant future earnings growth. These companies are generally more established than the higher growth companies in which we invest. An example is MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI), a high performance analog semiconductor company. MACOM sells its semiconductors, components, and subsystems to the communications, aerospace/defense, and industrial (including medical) markets. MACOM’s engineered analog chips are valuable IP-protected products. Their value is borne out by high operating margins of 23% (which we believe can expand to 40%). We believe the company can triple its revenues to $1.5 billion over the next five years, and increase profits even faster. We think its addressable market is $9.5 billion.



From Baron Discovery Fund's Investing in Earlier Stage Small Cap Growth Companies January 2017.



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Baron Funds Comments on MACOM Technology Solutions Holdings - Aug 10, 2016

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) designs and manufactures high end analog semiconductors used for industrial, military, and communications end markets. It has no consumer (handset) exposure, and it has significant opportunities in a number of new markets that each dwarf its existing $500 million in revenue. We believe that MACOM has unique radio-frequency technology based on Gallium-Nitride on Silicon (GaN), that will lead to near-term revenue growth in markets such as cellular tower power amplifiers, microwave oven and dryer components, and military and civilian radars that are worth billions of dollars in new market opportunity. In addition, the company has a multi-billion dollar market opportunity in optical networking components that connect data networks that span from the ultra-long distance, to short distance data center interconnections. We believe that MACOM possesses some unique proprietary laser technology that will enable it to capture meaningful market share in metro and data center optical markets. We think that communications-related growth is already starting, and that we will see progress in the GaN markets starting in the second half of this year. If MACOM executes its business plan, we are likely to see 20% revenue growth for years to come. Despite these exciting prospects, shares have traded down for a number of reasons including concerns about Chinese end markets, given its economy, economic prospects in Europe, given the Brexit vote, and general industrial conditions worldwide. We have done a significant amount of due diligence on the company and firmly believe that all of the company’s fundamental opportunities are intact. Given the company’s current valuation, we are very excited about prospects for the shares.





From Baron Discovery Fund's second quarter 2016 commentary.





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Baron Funds Comments on M/A-COM Technology Solutions Holdings - Feb 25, 2016

M/A-COM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) designs and manufactures high end analog semiconductors used for industrial, military and communications end markets. Its analog chips are primarily for radio-frequency and microwave applications, and act on natural phenomena versus manipulating binary signals composed of ones and zeros (as is the case with digital processor chips). This adds engineering complexity which allows for increased product differentiation and higher margins. M/A-COM has some unique capabilities that we believe will lead to increased market share in its key end markets. In the data center market (driven by the ever-increasing need by companies such as Facebook, Google, Amazon and Microsoft to upgrade to higher speed networks), M/A-COM has unique optical electronic and laser chips plus packaging that we believe give it technology and cost advantages. In the radar market, M/A-COM has some unique technologies including Gallium Arsenide (GaN) on Silicon, which should make it a low cost/high performance leader for military and civilian projects. M/A-COM has already won some military radar contracts, as well as a pilot FAA radar program. Given our research effort in the defense industry, we believe there will be many more projects to come. And the GaN technology should also give M/A-COM an advantage in the cellular base station market, where we believe it will replace older technology. We believe that M/A-COM has design wins (currently under qualification) with three of the four major manufacturers of this equipment, so this could be a large new opportunity for the company. Shares increased in the quarter as investors started to realize the size of some of the company’s opportunities that should start to shape up in 2016.





M/A-COM currently has 50% gross and 19% cash flow margins, which we believe can increase to 65% and 35%, respectively, over time, driven by what we think could be 20% revenue growth. And management has been diligent in using its cash flow to re-position the portfolio by buying higher margin, unique technologies (laser chips, GaN on Silicon), and selling lower margin (auto) businesses.



From Baron Discover Fund's fourth quarter 2015 commentary.



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Top Ranked Articles about MACOM Technology Solutions Holdings Inc

Baron Funds Comments on MACOM Technology Solutions Holdings Guru stock highlight
Growth These are companies that typically have revenue growth of 15%-20% that we think will lead to significant future earnings growth. These companies are generally more established than the higher growth companies in which we invest. An example is MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI), a high performance analog semiconductor company. MACOM sells its semiconductors, components, and subsystems to the communications, aerospace/defense, and industrial (including medical) markets. MACOM’s engineered analog chips are valuable IP-protected products. Their value is borne out by high operating margins of 23% (which we believe can expand to 40%). We believe the company can triple its revenues to $1.5 billion over the next five years, and increase profits even faster. We think its addressable market is $9.5 billion. Read more...

Ratios

vs
industry
vs
history
Forward PE Ratio 14.68
MTSI's Forward PE Ratio is ranked lower than
99.99% of the 121 Companies
in the Global Semiconductors industry.

( Industry Median: 17.73 vs. MTSI: 14.68 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 3.04
MTSI's PB Ratio is ranked lower than
75% of the 835 Companies
in the Global Semiconductors industry.

( Industry Median: 2.02 vs. MTSI: 3.04 )
Ranked among companies with meaningful PB Ratio only.
MTSI' s PB Ratio Range Over the Past 10 Years
Min: 2.48  Med: 4.37 Max: 7.3
Current: 3.04
2.48
7.3
PS Ratio 3.14
MTSI's PS Ratio is ranked lower than
76% of the 838 Companies
in the Global Semiconductors industry.

( Industry Median: 1.79 vs. MTSI: 3.14 )
Ranked among companies with meaningful PS Ratio only.
MTSI' s PS Ratio Range Over the Past 10 Years
Min: 0.11  Med: 3.55 Max: 6.1
Current: 3.14
0.11
6.1
Price-to-Free-Cash-Flow 49.57
MTSI's Price-to-Free-Cash-Flow is ranked lower than
86% of the 380 Companies
in the Global Semiconductors industry.

( Industry Median: 21.04 vs. MTSI: 49.57 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
MTSI' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 1.24  Med: 57.65 Max: 2428.24
Current: 49.57
1.24
2428.24
Price-to-Operating-Cash-Flow 28.71
MTSI's Price-to-Operating-Cash-Flow is ranked lower than
83% of the 486 Companies
in the Global Semiconductors industry.

( Industry Median: 13.78 vs. MTSI: 28.71 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
MTSI' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 0.83  Med: 33.32 Max: 164.88
Current: 28.71
0.83
164.88
EV-to-EBIT -123.22
MTSI's EV-to-EBIT is ranked lower than
99.99% of the 597 Companies
in the Global Semiconductors industry.

( Industry Median: 17.61 vs. MTSI: -123.22 )
Ranked among companies with meaningful EV-to-EBIT only.
MTSI' s EV-to-EBIT Range Over the Past 10 Years
Min: -898.1  Med: -23.25 Max: 724.9
Current: -123.22
-898.1
724.9
EV-to-EBITDA 45.90
MTSI's EV-to-EBITDA is ranked lower than
89% of the 661 Companies
in the Global Semiconductors industry.

( Industry Median: 12.96 vs. MTSI: 45.90 )
Ranked among companies with meaningful EV-to-EBITDA only.
MTSI' s EV-to-EBITDA Range Over the Past 10 Years
Min: -520.3  Med: 35.1 Max: 1823.5
Current: 45.9
-520.3
1823.5
EV-to-Revenue 4.09
MTSI's EV-to-Revenue is ranked lower than
81% of the 843 Companies
in the Global Semiconductors industry.

( Industry Median: 1.80 vs. MTSI: 4.09 )
Ranked among companies with meaningful EV-to-Revenue only.
MTSI' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.1  Med: 4.15 Max: 7.4
Current: 4.09
0.1
7.4
Current Ratio 5.61
MTSI's Current Ratio is ranked higher than
87% of the 855 Companies
in the Global Semiconductors industry.

( Industry Median: 2.23 vs. MTSI: 5.61 )
Ranked among companies with meaningful Current Ratio only.
MTSI' s Current Ratio Range Over the Past 10 Years
Min: 1.22  Med: 4.08 Max: 7.37
Current: 5.61
1.22
7.37
Quick Ratio 4.42
MTSI's Quick Ratio is ranked higher than
87% of the 855 Companies
in the Global Semiconductors industry.

( Industry Median: 1.70 vs. MTSI: 4.42 )
Ranked among companies with meaningful Quick Ratio only.
MTSI' s Quick Ratio Range Over the Past 10 Years
Min: 0.76  Med: 2.83 Max: 6.05
Current: 4.42
0.76
6.05
Days Inventory 122.01
MTSI's Days Inventory is ranked lower than
77% of the 827 Companies
in the Global Semiconductors industry.

( Industry Median: 79.77 vs. MTSI: 122.01 )
Ranked among companies with meaningful Days Inventory only.
MTSI' s Days Inventory Range Over the Past 10 Years
Min: 95.37  Med: 122.96 Max: 197.46
Current: 122.01
95.37
197.46
Days Sales Outstanding 69.17
MTSI's Days Sales Outstanding is ranked lower than
55% of the 779 Companies
in the Global Semiconductors industry.

( Industry Median: 64.24 vs. MTSI: 69.17 )
Ranked among companies with meaningful Days Sales Outstanding only.
MTSI' s Days Sales Outstanding Range Over the Past 10 Years
Min: 54.36  Med: 69.82 Max: 153.67
Current: 69.17
54.36
153.67
Days Payable 31.46
MTSI's Days Payable is ranked lower than
74% of the 758 Companies
in the Global Semiconductors industry.

( Industry Median: 53.42 vs. MTSI: 31.46 )
Ranked among companies with meaningful Days Payable only.
MTSI' s Days Payable Range Over the Past 10 Years
Min: 31.46  Med: 45.89 Max: 71.05
Current: 31.46
31.46
71.05

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -4.90
MTSI's 3-Year Average Share Buyback Ratio is ranked lower than
58% of the 616 Companies
in the Global Semiconductors industry.

( Industry Median: -3.70 vs. MTSI: -4.90 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
MTSI' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -216  Med: -4.9 Max: 0
Current: -4.9
-216
0

Valuation & Return

vs
industry
vs
history
Price-to-Intrinsic-Value-Projected-FCF 2.97
MTSI's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
82% of the 465 Companies
in the Global Semiconductors industry.

( Industry Median: 1.62 vs. MTSI: 2.97 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
MTSI' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 2.88  Med: 4.43 Max: 5.2
Current: 2.97
2.88
5.2
Price-to-Median-PS-Value 0.88
MTSI's Price-to-Median-PS-Value is ranked higher than
57% of the 763 Companies
in the Global Semiconductors industry.

( Industry Median: 1.18 vs. MTSI: 0.88 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
MTSI' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.05  Med: 0.99 Max: 1.6
Current: 0.88
0.05
1.6
Earnings Yield (Greenblatt) % -0.81
MTSI's Earnings Yield (Greenblatt) % is ranked lower than
72% of the 860 Companies
in the Global Semiconductors industry.

( Industry Median: 3.46 vs. MTSI: -0.81 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
MTSI' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -111.9  Med: -0.1 Max: 10.4
Current: -0.81
-111.9
10.4

More Statistics

Revenue (TTM) (Mil) $685.09
EPS (TTM) $ -2.49
Beta1.60
Short Percentage of Float28.83%
52-Week Range $35.33 - 65.99
Shares Outstanding (Mil)64.23

Analyst Estimate

Sep17 Sep18
Revenue (Mil $) 704 785
EPS ($) 2.34 2.51
EPS without NRI ($) 2.34 2.51
EPS Growth Rate
(Future 3Y To 5Y Estimate)
14.00%
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 44
Positive ROAN
Positive CFROAY
Higher ROA yoyN
CFROA > ROAY
Lower Leverage yoyN
Higher Current Ratio yoyY
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyY

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