Jennison Associates LLC Purchases 97,943 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Jennison Associates LLC lifted its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 18.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 630,406 shares of the semiconductor company's stock after purchasing an additional 97,943 shares during the quarter. Jennison Associates LLC owned 0.85% of MACOM Technology Solutions worth $63,280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Verdence Capital Advisors LLC boosted its position in MACOM Technology Solutions by 28.8% during the 1st quarter. Verdence Capital Advisors LLC now owns 2,975 shares of the semiconductor company's stock worth $299,000 after acquiring an additional 666 shares during the period. Larson Financial Group LLC boosted its position in MACOM Technology Solutions by 288.5% during the 1st quarter. Larson Financial Group LLC now owns 707 shares of the semiconductor company's stock worth $71,000 after acquiring an additional 525 shares during the period. Massachusetts Financial Services Co. MA boosted its position in MACOM Technology Solutions by 10.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 265,318 shares of the semiconductor company's stock worth $26,633,000 after acquiring an additional 24,691 shares during the period. TimesSquare Capital Management LLC boosted its position in MACOM Technology Solutions by 7.2% during the 1st quarter. TimesSquare Capital Management LLC now owns 213,722 shares of the semiconductor company's stock worth $21,453,000 after acquiring an additional 14,422 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in MACOM Technology Solutions during the 1st quarter worth about $2,768,000. Institutional investors and hedge funds own 76.14% of the company's stock.

Insiders Place Their Bets

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 4,944 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $118.59, for a total value of $586,308.96. Following the completion of the transaction, the senior vice president directly owned 30,659 shares of the company's stock, valued at approximately $3,635,850.81. The trade was a 13.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John Kober sold 2,250 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $125.65, for a total value of $282,712.50. Following the transaction, the chief financial officer directly owned 47,128 shares of the company's stock, valued at $5,921,633.20. This represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 454,227 shares of company stock valued at $56,118,317 in the last ninety days. 16.30% of the stock is currently owned by insiders.

MACOM Technology Solutions Price Performance

MTSI stock traded up $0.35 during trading on Friday, hitting $142.11. The company had a trading volume of 343,026 shares, compared to its average volume of 663,562. The company has a fifty day moving average price of $131.46 and a two-hundred day moving average price of $121.12. 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 company has a market cap of $10.56 billion, a P/E ratio of -116.48, a P/E/G ratio of 2.74 and a beta of 1.43. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $84.00 and a fifty-two 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $235.89 million during the quarter, compared to the consensus estimate 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 for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. Equities research analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MTSI shares. Stifel Nicolaus raised their price target on MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday. Bank of America raised their price target on MACOM Technology Solutions from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. 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 note on Monday, July 7th. Wall Street Zen raised MACOM Technology Solutions from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.90.

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.