MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in MACOM Technology Solutions by 4.9%, now owning approximately $337.16 million worth of shares after selling 174,493 shares in the first quarter.
• Various institutional investors have also adjusted their positions, with a total of 76.14% of MACOM’s stock currently held by institutional investors and hedge funds.
• Analyst ratings for MACOM have been positive, with multiple firms raising their price targets, signaling a strong consensus for a buy rating, and an average price target of $146.13.

Invesco Ltd. reduced its holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,358,850 shares of the semiconductor company's stock after selling 174,493 shares during the period. Invesco Ltd. owned about 4.52% of MACOM Technology Solutions worth $337,161,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in MACOM Technology Solutions by 3.2% during the first quarter. Principal Financial Group Inc. now owns 136,978 shares of the semiconductor company's stock worth $13,750,000 after buying an additional 4,249 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in MACOM Technology Solutions by 27.0% during the first quarter. OneDigital Investment Advisors LLC now owns 2,407 shares of the semiconductor company's stock worth $242,000 after buying an additional 511 shares in the last quarter. GAMMA Investing LLC boosted its holdings in MACOM Technology Solutions by 24.4% during the first quarter. GAMMA Investing LLC now owns 1,455 shares of the semiconductor company's stock worth $146,000 after buying an additional 285 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in MACOM Technology Solutions by 18.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,280 shares of the semiconductor company's stock worth $329,000 after buying an additional 502 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in MACOM Technology Solutions by 23.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,896 shares of the semiconductor company's stock worth $1,395,000 after buying an additional 2,655 shares in the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Robert Dennehy sold 5,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.42, for a total transaction of $702,100.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen G. Daly sold 2,380 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $125.70, for a total transaction of $299,166.00. Following the sale, the chief executive officer owned 24,573 shares of the company's stock, valued at approximately $3,088,826.10. The trade was a 8.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,118 shares of company stock valued at $18,041,599. Corporate insiders own 16.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MTSI shares. Truist Financial upped their price objective on shares of MACOM Technology Solutions from $136.00 to $154.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Wall Street Zen upgraded shares of MACOM Technology Solutions from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Barclays upped their price objective on shares of MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Bank of America upped their price objective on shares of MACOM Technology Solutions from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Benchmark restated a "buy" rating and set a $160.00 price objective on shares of MACOM Technology Solutions in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, MACOM Technology Solutions presently has a consensus rating of "Buy" and a consensus price target of $146.13.

MACOM Technology Solutions Price Performance

Shares of NASDAQ MTSI traded down $2.31 during mid-day trading on Friday, reaching $123.09. The company's stock had a trading volume of 537,002 shares, compared to its average volume of 743,923. The stock has a 50-day moving average of $135.39 and a two-hundred day moving average of $120.61. The stock has a market capitalization of $9.17 billion, a P/E ratio of -121.87, a P/E/G ratio of 2.36 and a beta of 1.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.10 and a current ratio of 3.83. MACOM Technology Solutions Holdings, Inc. has a 1-year low of $84.00 and a 1-year high of $152.50.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last issued its earnings results on Thursday, August 7th. The semiconductor company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. The business had revenue of $252.08 million during the quarter, compared to analysts' expectations of $249.89 million. MACOM Technology Solutions had a negative net margin of 7.71% and a positive return on equity of 14.02%. The company's quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. On average, equities research analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS 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.