MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Stock Position Lowered by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in MACOM Technology Solutions by 68.8%, now holding 4,038 shares valued at $405,000.
• Several institutional investors increased their positions, with Price T Rowe Associates growing its holdings by 38.9% in the previous quarter, owning approximately 3.99 million shares valued at $519 million.
• Analysts are optimistic, with the majority rating the stock as a "buy" and a consensus price target of $139.90, showing confidence in MACOM's future performance.

Pacer Advisors Inc. trimmed its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 68.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,038 shares of the semiconductor company's stock after selling 8,906 shares during the period. Pacer Advisors Inc.'s holdings in MACOM Technology Solutions were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in MACOM Technology Solutions during the first quarter worth about $25,000. Elequin Capital LP acquired a new stake in MACOM Technology Solutions during the fourth quarter worth about $26,000. Versant Capital Management Inc raised its stake in MACOM Technology Solutions by 9,400.0% during the first quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 282 shares during the period. Allworth Financial LP grew its position in MACOM Technology Solutions by 131.3% in the 1st quarter. Allworth Financial LP now owns 347 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 197 shares during the last quarter. Finally, UMB Bank n.a. grew its position in MACOM Technology Solutions by 182.7% in the 1st quarter. UMB Bank n.a. now owns 670 shares of the semiconductor company's stock worth $67,000 after purchasing an additional 433 shares during the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MACOM Technology Solutions

In related news, SVP Donghyun Thomas Hwang sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan Ocampo sold 104,449 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $123.98, for a total transaction of $12,949,587.02. Following the sale, the director directly owned 4,118,621 shares of the company's stock, valued at approximately $510,626,631.58. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 452,756 shares of company stock valued at $56,158,217. Corporate insiders own 16.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MTSI shares. Bank of America upped their target price 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. Truist Financial upped their target price 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. BNP Paribas upgraded shares of MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a research report on Wednesday, April 9th. Stifel Nicolaus upped their target price 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. Finally, 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. 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. Based on data from MarketBeat, MACOM Technology Solutions currently has a consensus rating of "Buy" and a consensus target price of $146.13.

MACOM Technology Solutions Price Performance

Shares of MACOM Technology Solutions stock traded up $1.28 on Wednesday, hitting $138.56. The company had a trading volume of 403,297 shares, compared to its average volume of 737,872. The business has a 50-day simple moving average of $135.23 and a 200-day simple moving average of $121.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.56 and a quick ratio of 2.86. The company has a market cap of $10.30 billion, a PE ratio of -113.63, a PEG ratio of 2.70 and a beta of 1.38. MACOM Technology Solutions Holdings, Inc. has a 52 week low of $84.00 and a 52 week high of $152.50.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $230.04 million. MACOM Technology Solutions had a negative net margin of 10.24% and a positive return on equity of 13.32%. The business's revenue was up 30.2% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. Research analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current fiscal year.

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.