MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in MACOM Technology Solutions by 71.6%, owning approximately $6.06 million worth of shares as of the latest SEC filing.
• Recent insider trading revealed that SVP Donghyun Thomas Hwang sold 5,000 shares for roughly $687,000, reducing his position by 13.97%.
• Analysts have raised price targets for MACOM Technology Solutions, with Barclays setting a new target of $150, while Bank of America revised theirs to $160, indicating a generally positive outlook for the stock.

Alberta Investment Management Corp lifted its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 71.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,329 shares of the semiconductor company's stock after purchasing an additional 25,169 shares during the quarter. Alberta Investment Management Corp owned about 0.08% of MACOM Technology Solutions worth $6,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in MACOM Technology Solutions by 38.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company's stock valued at $519,399,000 after acquiring an additional 1,120,510 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in MACOM Technology Solutions during the 4th quarter valued at about $31,260,000. Nuveen Asset Management LLC boosted its holdings in MACOM Technology Solutions by 129.4% during the 4th quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company's stock valued at $42,621,000 after acquiring an additional 185,075 shares during the period. GAMMA Investing LLC boosted its holdings in MACOM Technology Solutions by 12,383.2% during the 1st quarter. GAMMA Investing LLC now owns 146,053 shares of the semiconductor company's stock valued at $14,661,000 after acquiring an additional 144,883 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in MACOM Technology Solutions during the 4th quarter valued at about $18,362,000. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on MTSI. Truist Financial raised their target price on MACOM Technology Solutions from $136.00 to $154.00 and gave the company a "buy" rating in a report on Monday, July 7th. Wall Street Zen upgraded MACOM Technology Solutions from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. BNP Paribas upgraded MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 9th. Stifel Nicolaus lifted their price objective on MACOM Technology Solutions from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MACOM Technology Solutions has an average rating of "Buy" and a consensus target price of $146.13.

MACOM Technology Solutions Stock Up 1.6%

Shares of NASDAQ MTSI traded up $2.24 during midday trading on Wednesday, hitting $139.52. 492,440 shares of the company's stock were exchanged, compared to its average volume of 738,086. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.56 and a quick ratio of 2.86. MACOM Technology Solutions Holdings, Inc. has a twelve month low of $84.00 and a twelve month high of $152.50. The company has a market cap of $10.37 billion, a PE ratio of -114.30, a P/E/G ratio of 2.70 and a beta of 1.38. The firm's fifty day simple moving average is $135.23 and its 200-day simple moving average is $121.26.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a positive return on equity of 13.32% and a negative net margin of 10.24%. The business had revenue of $235.89 million for the quarter, compared to analyst estimates of $230.04 million. During the same quarter last year, the company earned $0.59 EPS. The business's quarterly revenue was up 30.2% on a year-over-year basis. Research analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at MACOM Technology Solutions

In other MACOM Technology Solutions news, Director Susan Ocampo sold 104,449 shares of MACOM Technology Solutions stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $123.98, for a total transaction of $12,949,587.02. Following the transaction, the director owned 4,118,621 shares of the company's stock, valued at $510,626,631.58. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Robert Dennehy sold 5,000 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $140.42, for a total value of $702,100.00. Following the transaction, the senior vice president directly owned 15,680 shares in the company, valued at approximately $2,201,785.60. This trade represents a 24.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 452,756 shares of company stock worth $56,158,217. 16.30% of the stock is currently owned by corporate insiders.

MACOM Technology Solutions Company Profile

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.