Ameriprise Financial Inc. Sells 10,560 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Ameriprise Financial Inc. reduced its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,236 shares of the semiconductor company's stock after selling 10,560 shares during the quarter. Ameriprise Financial Inc. owned 0.33% of MACOM Technology Solutions worth $31,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Algert Global LLC grew its position in MACOM Technology Solutions by 327.1% during the 4th quarter. Algert Global LLC now owns 50,480 shares of the semiconductor company's stock worth $6,558,000 after acquiring an additional 38,660 shares during the last quarter. PDT Partners LLC bought a new stake in shares of MACOM Technology Solutions during the fourth quarter worth $624,000. Schonfeld Strategic Advisors LLC increased its stake in shares of MACOM Technology Solutions by 53.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 8,092 shares of the semiconductor company's stock valued at $1,051,000 after buying an additional 2,806 shares in the last quarter. Northern Trust Corp raised its holdings in shares of MACOM Technology Solutions by 21.6% in the fourth quarter. Northern Trust Corp now owns 479,046 shares of the semiconductor company's stock valued at $62,233,000 after buying an additional 85,104 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in MACOM Technology Solutions by 25.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 274,947 shares of the semiconductor company's stock worth $35,718,000 after acquiring an additional 56,243 shares during the last quarter. 76.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BNP Paribas raised shares of MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 price target on the stock in a research note on Wednesday, April 9th. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Barclays boosted their price objective on MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Bank of America reduced their target price on shares of MACOM Technology Solutions from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial began coverage on shares of MACOM Technology Solutions in a research report on Friday, April 11th. They set a "buy" rating and a $125.00 price target for the company. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MACOM Technology Solutions has an average rating of "Moderate Buy" and an average price target of $130.50.

Insider Buying and Selling

In other news, SVP Donghyun Thomas Hwang sold 6,471 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $100.00, for a total transaction of $647,100.00. Following the sale, the senior vice president now owns 35,603 shares in the company, valued at $3,560,300. This represents a 15.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan Ocampo sold 286,635 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $123.31, for a total transaction of $35,344,961.85. Following the completion of the transaction, the director now directly owns 5,123,636 shares of the company's stock, valued at $631,795,555.16. This represents a 5.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 695,579 shares of company stock worth $85,918,753. 16.30% of the stock is owned by insiders.

MACOM Technology Solutions Price Performance

NASDAQ MTSI opened at $123.25 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.88 and a current ratio of 3.61. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of -85.59, a PEG ratio of 2.42 and a beta of 1.36. The business has a 50 day simple moving average of $104.07 and a 200 day simple moving average of $120.90. MACOM Technology Solutions Holdings, Inc. has a 52-week low of $84.00 and a 52-week high of $152.50.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. The business had revenue of $235.89 million for the quarter, compared to analyst estimates of $230.04 million. MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. The firm's quarterly revenue was up 30.2% on a year-over-year basis. During the same period last year, the business posted $0.59 earnings per share. Analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum in the United States, China, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.

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