MTSI
MACOM Technology Solutions Holdings, Inc.
MTSI's fundamentals are strong: revenue grew 37% and its operating margin rose 10 points to 23%. At 57x earnings, it's trading below its usual 82x.
MTSI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MTSI's revenue, profitability, cash flow and balance sheet are all currently strong.
MTSI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $65.74 | -73% |
| Current | 57x | $246 | — |
| Fair | 81x | $349 | +42% |
| Expensive | 128x | $552 | +125% |
Historical ranges are pointers, not guarantees.
MTSI's PE is in its fair range at 57x.
MTSI Forward outlook
There aren't enough analyst estimates for MTSI to show an outlook.
MTSI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $4.31 | +$5.04 |
| Q2 2026 | $3.19 | +$4.19 |
| Q1 2026 | $2.39 | +$3.60 |
| Q4 2025 | $2.21 | +$3.64 |
| Q3 2025 | -$0.73 | -170% |
| Q2 2025 | -$1.00 | -202% |
| Q1 2025 | -$1.21 | -238% |
| Q4 2024 | -$1.43 | -238% |
MTSI has returned to profit: it earned $4.31 per share over the past year, after losing money the year before.
MTSI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $424.8M | +63% |
| Q2 2026 | $342.2M | +36% |
| Q1 2026 | $289M | +22% |
| Q4 2025 | $271.6M | +25% |
| Q3 2025 | $261.2M | +30% |
| Q2 2025 | $252.1M | +32% |
| Q1 2025 | $235.9M | +30% |
| Q4 2024 | $218.1M | +39% |
MTSI's revenue has grown year over year for 11 quarters in a row: $425M last quarter, up 63% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | +16 points |
| Q2 2026 | 23% | +7.6 points |
| Q1 2026 | 18% | +2.8 points |
| Q4 2025 | 16% | +7.9 points |
| Q3 2025 | 15% | +1.4 points |
| Q2 2025 | 15% | +4.6 points |
| Q1 2025 | 15% | +6.3 points |
| Q4 2024 | 8% | +1 points |
MTSI's operating margin was 32% last quarter, up 16 points from the same quarter a year ago, near the top of its range since 2020.
MTSI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $138M | +179% |
| Q2 2026 | $59.2M | +15% |
| Q1 2026 | $65.5M | +114% |
| Q4 2025 | $30M | -51% |
| Q3 2025 | $49.4M | -14% |
| Q2 2025 | $51.6M | +24% |
| Q1 2025 | $30.5M | +134% |
| Q4 2024 | $61.3M | +116% |
MTSI's free cash flow has been positive every quarter for seven years: $293M over the past year, up 52% from the year before.
MTSI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -674K shares |
| 1 year | +5.1% | +3.7M shares |
| 3 years | +8.7% | +6.2M shares |
| 5 years | +10% | +7.3M shares |
| Available history | +17% | +11.5M shares |
MTSI has 78M diluted shares, up 5.1% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $47.9M |
| Q3 2025 | $451,000 |
| Q2 2025 | $1.4M |
| Q1 2025 | $3.4M |
| Q4 2024 | $37.9M |
| Q3 2024 | $342,000 |
| Q2 2024 | $1.4M |
| Q1 2024 | $970,000 |
MTSI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.6x | Very low |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | 1.9x | Healthy |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 2.3x | Moderate |
| Q1 2025 | 2.6x | Moderate |
| Q4 2024 | 2.1x | Moderate |
MTSI's net debt is less than a year of its operating earnings (EBITDA), down from 2.2 years a year ago.
MTSI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.1 | Neutral |
| Stochastic | 19.4 | Oversold |
MTSI's weekly RSI is 45 (neutral) and its Stochastic is 19 (oversold).
MTSI PE vs Technology Sector
| Metric | MTSI | Sector median | Relative |
|---|---|---|---|
| PE | 57x | 28x | 105% above |
| PE % | 42 | 35 | 7 pts above |
MTSI is trading at 57x earnings, a 105% premium to the Technology sector's median of 28x.
MTSI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $265.9 | 7.6% below |
| 20 week MA | $276.1 | 11% below |
| 50 week MA | $268.0 | 8.3% below |
| 100 week MA | $198.4 | 24% above |
| 200 week MA | $143.2 | 72% above |
MTSI has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 72% above its 200-week average.
MTSI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $27.4 | $54.6 | +99% |
| 2021 | $54.6 | $77.5 | +42% |
| 2022 | $77.5 | $63.3 | -18% |
| 2023 | $63.3 | $93.0 | +47% |
| 2024 | $93.0 | $133.5 | +44% |
| 2025 | $133.5 | $175.0 | +31% |
| 2026 YTD | $175.0 | $245.8 | +40% |
MTSI has finished higher in five of the last six years. It's up 40% so far in 2026.