Principal Financial Group Inc. Buys 4,249 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Principal Financial Group Inc. boosted its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,978 shares of the semiconductor company's stock after buying an additional 4,249 shares during the period. Principal Financial Group Inc. owned approximately 0.18% of MACOM Technology Solutions worth $13,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp lifted its stake in MACOM Technology Solutions by 8.0% during the 4th quarter. M&T Bank Corp now owns 2,143 shares of the semiconductor company's stock valued at $278,000 after acquiring an additional 158 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $2,194,000. Raymond James Financial Inc. purchased a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $8,630,000. AlphaQuest LLC purchased a new stake in shares of MACOM Technology Solutions during the 4th quarter valued at about $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MACOM Technology Solutions by 24.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,520 shares of the semiconductor company's stock valued at $2,016,000 after acquiring an additional 3,050 shares during the last quarter. Institutional investors own 76.14% of the company's stock.

Analysts Set New Price Targets

MTSI has been the topic of a number of recent analyst reports. BNP Paribas raised 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 report on Wednesday, April 9th. Bank of America raised their price target on shares of MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of MACOM Technology Solutions from a "buy" rating to a "hold" rating in a report on Saturday. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of MACOM Technology Solutions in a report on Friday, May 9th. Finally, Stifel Nicolaus dropped their price target on shares of MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Three 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $136.40.

Insider Activity

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 5,000 shares of the business's stock in a transaction dated 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 directly owned 15,680 shares in the company, valued at approximately $2,201,785.60. The trade was a 24.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 104,449 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $123.98, for a total transaction of $12,949,587.02. Following the completion of the transaction, the director owned 4,118,621 shares of the company's stock, valued at $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. In the last three months, insiders sold 454,227 shares of company stock valued at $56,118,317. Insiders own 16.30% of the company's stock.

MACOM Technology Solutions Trading Down 0.7%

MACOM Technology Solutions stock opened at $136.20 on Friday. The stock has a market cap of $10.13 billion, a P/E ratio of -111.64, a PEG ratio of 2.63 and a beta of 1.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.56 and a quick ratio of 2.86. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $84.00 and a 1 year high of $152.50. The firm's 50 day moving average price is $129.06 and its 200-day moving average price is $120.87.

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 the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a negative net margin of 10.24% and a positive return on equity of 13.32%. The firm had revenue of $235.89 million for the quarter, compared to analysts' expectations of $230.04 million. During the same quarter last year, the business posted $0.59 earnings per share. The company's revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share 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.

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