Azzad Asset Management Inc. ADV Acquires New Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Azzad Asset Management Inc. ADV acquired a new stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,802 shares of the semiconductor company's stock, valued at approximately $582,000.

A number of other large investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of MACOM Technology Solutions by 24.4% in the first quarter. GAMMA Investing LLC now owns 1,455 shares of the semiconductor company's stock valued at $146,000 after buying an additional 285 shares in the last quarter. Park Avenue Securities LLC grew its position in MACOM Technology Solutions by 9.5% during the first quarter. Park Avenue Securities LLC now owns 4,025 shares of the semiconductor company's stock worth $404,000 after buying an additional 350 shares during the period. UMB Bank n.a. grew its position in MACOM Technology Solutions by 182.7% during the first quarter. UMB Bank n.a. now owns 670 shares of the semiconductor company's stock worth $67,000 after buying an additional 433 shares during the period. Wedmont Private Capital purchased a new position in MACOM Technology Solutions in the first quarter valued at about $202,000. Finally, Rhumbline Advisers lifted its position in shares of MACOM Technology Solutions by 4.4% during the 1st quarter. Rhumbline Advisers now owns 156,073 shares of the semiconductor company's stock valued at $15,667,000 after acquiring an additional 6,536 shares during the period. Hedge funds and other institutional investors own 76.14% of the company's stock.

Insider Buying and Selling at MACOM Technology Solutions

In related news, CFO John Kober sold 2,250 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $125.65, for a total transaction of $282,712.50. Following the transaction, the chief financial officer now owns 47,128 shares in the company, valued at $5,921,633.20. This trade represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen G. Daly sold 2,380 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $125.70, for a total value of $299,166.00. Following the completion of the sale, the chief executive officer now directly owns 24,573 shares in the company, valued at $3,088,826.10. This represents a 8.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 449,227 shares of company stock worth $55,416,217. 16.30% of the stock is owned by insiders.

MACOM Technology Solutions Stock Up 2.8%

NASDAQ MTSI traded up $3.60 on Thursday, hitting $134.32. 557,502 shares of the stock traded hands, compared to its average volume of 691,632. The company has a current ratio of 3.56, a quick ratio of 2.86 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $116.19 and a 200 day moving average of $120.79. 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 capitalization of $9.99 billion, a P/E ratio of -110.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.40.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $235.89 million during the quarter, compared to analyst estimates 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 business's revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 earnings per share. As a group, analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MTSI has been the subject of several research reports. Bank of America cut their price target on MACOM Technology Solutions from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. 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 target price for the company. BNP Paribas upgraded 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 report on Wednesday, April 9th. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Finally, Barclays upped their target price on MACOM Technology Solutions from $125.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MACOM Technology Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $130.50.

MACOM Technology Solutions 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.