MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Shares Bought 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 raised its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 71.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,329 shares of the semiconductor company's stock after buying 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 SEC filing.

Other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of MACOM Technology Solutions by 38.9% in the fourth 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 purchasing an additional 1,120,510 shares during the last quarter. GW&K Investment Management LLC increased its holdings in shares of MACOM Technology Solutions by 9.9% in the first quarter. GW&K Investment Management LLC now owns 1,275,048 shares of the semiconductor company's stock valued at $127,990,000 after purchasing an additional 114,780 shares during the last quarter. Geode Capital Management LLC grew its position in MACOM Technology Solutions by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,022,565 shares of the semiconductor company's stock worth $132,882,000 after acquiring an additional 6,784 shares during the period. Millennium Management LLC grew its position in MACOM Technology Solutions by 14.8% in the fourth quarter. Millennium Management LLC now owns 850,687 shares of the semiconductor company's stock worth $110,513,000 after acquiring an additional 109,529 shares during the period. Finally, Jennison Associates LLC grew its position in MACOM Technology Solutions by 18.4% in the first quarter. Jennison Associates LLC now owns 630,406 shares of the semiconductor company's stock worth $63,280,000 after acquiring an additional 97,943 shares during the period. 76.14% of the stock is currently owned by institutional investors and hedge funds.

MACOM Technology Solutions Stock Up 2.7%

Shares of NASDAQ MTSI traded up $3.69 during mid-day trading on Monday, hitting $140.00. The company had a trading volume of 412,622 shares, compared to its average volume of 501,470. The company has a market capitalization of $10.41 billion, a PE ratio of -114.75, a price-to-earnings-growth ratio of 2.63 and a beta of 1.38. 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 1-year low of $84.00 and a 1-year high of $152.50. The business's 50-day simple moving average is $134.59 and its 200 day simple moving average is $121.18.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MTSI. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a research report on Friday, May 9th. Wall Street Zen upgraded shares of MACOM Technology Solutions from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Stifel Nicolaus increased their price objective on shares of MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Bank of America boosted their target price on MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, Truist Financial raised their price target on MACOM Technology Solutions from $136.00 to $154.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $146.13.

Insiders Place Their Bets

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 5,000 shares of MACOM Technology Solutions stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $137.40, for a total transaction of $687,000.00. Following the completion of the sale, the senior vice president directly owned 30,779 shares of the company's stock, valued at $4,229,034.60. The trade was a 13.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert Dennehy sold 5,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $2,201,785.60. This represents a 24.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 452,756 shares of company stock valued at $56,158,217. 16.30% of the stock is owned by company 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.