Oppenheimer Asset Management Inc. Acquires 2,655 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Oppenheimer Asset Management Inc. boosted its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 23.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,896 shares of the semiconductor company's stock after acquiring an additional 2,655 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in MACOM Technology Solutions were worth $1,395,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake 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 worth $519,399,000 after acquiring an additional 1,120,510 shares in the last quarter. Norges Bank purchased a new stake in MACOM Technology Solutions during the 4th quarter worth approximately $82,833,000. Vanguard Group Inc. raised its position in shares of MACOM Technology Solutions by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company's stock valued at $846,656,000 after purchasing an additional 368,979 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of MACOM Technology Solutions during the 4th quarter valued at approximately $31,260,000. Finally, Nuveen Asset Management LLC grew its position in shares of MACOM Technology Solutions by 129.4% during the fourth quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company's stock worth $42,621,000 after buying an additional 185,075 shares in the last quarter. Institutional investors and hedge funds own 76.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MTSI. Benchmark restated a "buy" rating and issued a $160.00 target price on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Barclays upped their price objective 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. Stifel Nicolaus reduced their target price on MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Bank of America boosted their price target on MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Truist Financial began coverage on MACOM Technology Solutions in a research note on Friday, April 11th. They set a "buy" rating and a $125.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $133.50.

Insider Buying and Selling at MACOM Technology Solutions

In other news, CEO Stephen G. Daly sold 9,374 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $127.81, for a total transaction of $1,198,090.94. Following the completion of the transaction, the chief executive officer now directly owns 26,953 shares of the company's stock, valued at $3,444,862.93. This trade represents a 25.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Dennehy sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $140.42, for a total value of $702,100.00. Following the completion of the transaction, the senior vice president now owns 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. Insiders have sold a total of 454,227 shares of company stock worth $56,118,317 over the last ninety days. Corporate insiders own 16.30% of the company's stock.

MACOM Technology Solutions Stock Performance

MTSI traded down $0.18 during trading on Friday, hitting $142.05. The stock had a trading volume of 1,035,194 shares, compared to its average volume of 668,638. The company has a 50 day simple moving average of $121.91 and a 200-day simple moving average of $120.69. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $84.00 and a 12 month high of $152.50. The firm has a market cap of $10.56 billion, a PE ratio of -116.43, a P/E/G ratio of 2.74 and a beta of 1.40. The company has a current ratio of 3.56, a quick ratio of 2.86 and a debt-to-equity ratio of 0.31.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. MACOM Technology Solutions's quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. Analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current year.

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.