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

Principal Financial Group Inc. raised its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.18% of MACOM Technology Solutions worth $13,750,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MTSI. Russell Investments Group Ltd. lifted its holdings in MACOM Technology Solutions by 1.4% in the fourth quarter. Russell Investments Group Ltd. now owns 7,160 shares of the semiconductor company's stock valued at $930,000 after buying an additional 100 shares during the period. Quadrant Capital Group LLC increased its stake in MACOM Technology Solutions by 8.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,339 shares of the semiconductor company's stock valued at $174,000 after purchasing an additional 101 shares in the last quarter. Corient Private Wealth LLC increased its stake in MACOM Technology Solutions by 4.7% in the fourth quarter. Corient Private Wealth LLC now owns 3,033 shares of the semiconductor company's stock valued at $394,000 after purchasing an additional 136 shares in the last quarter. M&T Bank Corp increased its stake in MACOM Technology Solutions by 8.0% in the fourth quarter. M&T Bank Corp now owns 2,143 shares of the semiconductor company's stock valued at $278,000 after purchasing an additional 158 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in MACOM Technology Solutions by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 24,530 shares of the semiconductor company's stock valued at $3,187,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 76.14% of the company's stock.

Insider Activity

In other news, Director Susan Ocampo sold 300,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $123.58, for a total transaction of $37,074,000.00. Following the completion of the transaction, the director directly owned 4,377,764 shares of the company's stock, valued at $541,004,075.12. This represents a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donghyun Thomas Hwang sold 6,471 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $100.00, for a total transaction of $647,100.00. Following the transaction, the senior vice president directly owned 35,603 shares of the company's stock, valued at $3,560,300. This represents a 15.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 454,227 shares of company stock worth $56,118,317. 16.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MTSI shares. Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of MACOM Technology Solutions in a research note on Friday, May 9th. BNP Paribas raised shares of MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 price target for the company in a research note on Wednesday, April 9th. Bank of America lifted their price target on shares of MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Stifel Nicolaus decreased their target price on shares of MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Barclays upped their target price on shares of MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $136.40.

MACOM Technology Solutions Stock Performance

MTSI stock traded up $0.42 during midday trading on Wednesday, hitting $137.72. The company's stock had a trading volume of 597,139 shares, compared to its average volume of 664,754. The stock's 50-day moving average price is $130.05 and its 200 day moving average price is $120.90. The company has a quick ratio of 2.86, a current ratio of 3.56 and a debt-to-equity ratio of 0.31. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $84.00 and a 1 year high of $152.50. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of -112.88, a PEG ratio of 2.63 and a beta of 1.43.

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