M/A-COM Technology Solutions Holdings (MTSI) : Traders are bullish on M/A-COM Technology Solutions Holdings (MTSI) as it has outperformed the S&P 500 by a wide margin of 8.75% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.61%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.58% in the last 1 week, and is up 9.16% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
MACOM Technology Solutions Holdings, Inc. is up 11.44% in the last 3-month period. Year-to-Date the stock performance stands at -2.84%. The stock has recorded a 20-day Moving Average of 1.92% and the 50-Day Moving Average is 9.28%.
M/A-COM Technology Solutions Holdings (NASDAQ:MTSI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $39.42 and $39.42 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $39.93. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.73, notching a gain of 0.81% for the day. The total traded volume was 248,369 . The stock had closed at $39.41 on the previous day.
Also, Brokerage firm Bank of America downgrades its rating on M/A-COM Technology Solutions Holdings (NASDAQ:MTSI). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 27, 2016.
M/A-COM Technology Solutions Holdings, Inc. is a supplier of analog semiconductor solutions for use in wireless and wireline applications across the radio microwave and millimeter wave spectrum. The Companys semiconductor products are electronic components which includes point-to-point wireless backhaul radios, radar, automobile navigation systems, digital cable television (CATV) set-top boxes, magnetic resonance imaging systems and unmanned aerial vehicles. The Company operates in four markets: Networks, which includes CATV, cellular backhaul, cellular infrastructure and fiber optic applications; Aerospace and Defense; Automotive, which includes global positioning system modules sold to the automotive industry; and Multi-market, which includes industrial, medical, mobile communications and scientific applications. The Company serves systems manufacturers, OEMs, contract manufacturers and distributors.