Thornburg Investment Management Inc. Sells 6,500 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Key Points

• Thornburg Investment Management Inc. has decreased its stake in MACOM Technology Solutions by 7.1%, now owning 84,502 shares valued at approximately $8.48 million.
• Despite Thornburg's reduction, large investors such as Price T Rowe Associates and Nuveen Asset Management have significantly increased their holdings in MACOM, signaling continued institutional interest in the stock.
• MACOM Technology Solutions reported a quarterly earnings per share of $0.85, beating consensus estimates and reflecting a 30.2% year-over-year revenue increase.

Thornburg Investment Management Inc. decreased its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,502 shares of the semiconductor company's stock after selling 6,500 shares during the period. Thornburg Investment Management Inc. owned about 0.11% of MACOM Technology Solutions worth $8,482,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new stake in shares of MACOM Technology Solutions during the first quarter worth approximately $25,000. Elequin Capital LP acquired a new stake in shares of MACOM Technology Solutions during the fourth quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings in shares of 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 buying an additional 282 shares in the last quarter. Allworth Financial LP increased its holdings in shares of MACOM Technology Solutions by 131.3% during the first quarter. Allworth Financial LP now owns 347 shares of the semiconductor company's stock worth $37,000 after buying an additional 197 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of MACOM Technology Solutions by 182.7% during the first quarter. UMB Bank n.a. now owns 670 shares of the semiconductor company's stock worth $67,000 after buying an additional 433 shares in the last quarter. Institutional investors own 76.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MTSI shares. Stifel Nicolaus raised their price objective on shares of MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Barclays raised their price objective 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. Truist Financial raised their price target on shares of MACOM Technology Solutions from $136.00 to $154.00 and gave the company a "buy" rating in a report on Monday, July 7th. Wall Street Zen raised shares of MACOM Technology Solutions from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Finally, Benchmark reissued a "buy" rating and issued a $160.00 price target on shares of MACOM Technology Solutions in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, MACOM Technology Solutions presently has an average rating of "Moderate Buy" and an average target price of $139.90.

Insider Activity

In other MACOM Technology Solutions news, CEO Stephen G. Daly sold 2,380 shares of MACOM Technology Solutions stock in a transaction on Friday, June 6th. The shares were sold at an average price of $125.70, for a total transaction of $299,166.00. Following the completion of the sale, the chief executive officer owned 24,573 shares of the company's stock, valued at approximately $3,088,826.10. The trade was a 8.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Ocampo sold 104,449 shares of MACOM Technology Solutions stock in a transaction on 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 sale, the director directly owned 4,118,621 shares of the company's stock, valued at $510,626,631.58. This represents a 2.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 452,756 shares of company stock worth $56,158,217. Corporate insiders own 16.30% of the company's stock.

MACOM Technology Solutions Trading Down 0.6%

MTSI traded down $0.83 during trading on Friday, reaching $136.31. 574,913 shares of the company's stock were exchanged, compared to its average volume of 472,724. The company's fifty day moving average price is $134.59 and its 200-day moving average price is $121.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.86 and a current ratio of 3.56. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $152.50. The firm has a market capitalization of $10.13 billion, a PE ratio of -111.73, a P/E/G ratio of 2.64 and a beta of 1.38.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $230.04 million. During the same quarter in the previous year, the business earned $0.59 EPS. The business's quarterly revenue was up 30.2% compared to the same quarter last year. As a group, equities analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current year.

About MACOM Technology Solutions

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.