Sowell Financial Services LLC Invests $206,000 in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Sowell Financial Services LLC purchased a new stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,055 shares of the semiconductor company's stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of MACOM Technology Solutions in the first quarter worth approximately $25,000. Elequin Capital LP bought a new position in MACOM Technology Solutions during the 4th quarter worth approximately $26,000. Versant Capital Management Inc raised its holdings in MACOM Technology Solutions by 9,400.0% during the 1st quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 282 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of MACOM Technology Solutions in the 4th quarter worth approximately $33,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of MACOM Technology Solutions in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 76.14% of the company's stock.

Insider Activity

In related news, CEO Stephen G. Daly sold 14,665 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $122.71, for a total value of $1,799,542.15. Following the transaction, the chief executive officer now owns 36,327 shares of the company's stock, valued at approximately $4,457,686.17. This trade represents a 28.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 300,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $123.58, for a total value of $37,074,000.00. Following the sale, the director now directly owns 4,377,764 shares of the company's stock, valued at $541,004,075.12. This represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 454,227 shares of company stock worth $56,118,317 over the last three months. 16.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MTSI has been the subject of several recent analyst reports. Truist Financial assumed coverage on shares of MACOM Technology Solutions in a research report on Friday, April 11th. They set a "buy" rating and a $125.00 price objective for the company. Barclays increased their price target on MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. 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. Stifel Nicolaus cut their target price on MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Bank of America lifted their target price on MACOM Technology Solutions from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.50.

MACOM Technology Solutions Stock Up 2.2%

NASDAQ:MTSI traded up $3.06 on Thursday, hitting $142.23. The stock had a trading volume of 499,567 shares, compared to its average volume of 694,311. 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 52 week low of $84.00 and a 52 week high of $152.50. The business's fifty day moving average is $121.01 and its 200 day moving average is $120.76. The company has a market cap of $10.57 billion, a PE ratio of -116.58, a P/E/G ratio of 2.68 and a beta of 1.40.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $235.89 million for the quarter, compared to analyst estimates of $230.04 million. During the same period in the prior year, the firm earned $0.59 earnings per share. MACOM Technology Solutions's revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities research analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current fiscal 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.