Thornburg Investment Management Inc. Decreases Stock Position in 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. lowered 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 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 quarter. Thornburg Investment Management Inc. owned 0.11% of MACOM Technology Solutions worth $8,482,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in MACOM Technology Solutions by 38.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company's stock valued at $519,399,000 after acquiring an additional 1,120,510 shares during the period. GW&K Investment Management LLC boosted its holdings in MACOM Technology Solutions by 9.9% during the 1st quarter. GW&K Investment Management LLC now owns 1,275,048 shares of the semiconductor company's stock valued at $127,990,000 after acquiring an additional 114,780 shares during the period. Geode Capital Management LLC boosted its holdings in MACOM Technology Solutions by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,022,565 shares of the semiconductor company's stock valued at $132,882,000 after acquiring an additional 6,784 shares during the period. Millennium Management LLC raised its position in MACOM Technology Solutions by 14.8% during the 4th quarter. Millennium Management LLC now owns 850,687 shares of the semiconductor company's stock valued at $110,513,000 after purchasing an additional 109,529 shares in the last quarter. Finally, Norges Bank bought a new stake in MACOM Technology Solutions during the 4th quarter valued at $82,833,000. Hedge funds and other institutional investors own 76.14% of the company's stock.

MACOM Technology Solutions Stock Performance

MACOM Technology Solutions stock traded down $0.83 during trading hours on Friday, hitting $136.31. 574,913 shares of the stock traded hands, compared to its average volume of 741,759. 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 firm's 50 day moving average price is $134.30 and its 200-day moving average price is $121.47. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of -111.73, a P/E/G ratio of 2.70 and a beta of 1.43. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $84.00 and a 1 year high of $152.50.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The business had revenue of $235.89 million for the quarter, compared to the consensus estimate of $230.04 million. MACOM Technology Solutions had a positive return on equity of 13.32% and a negative net margin of 10.24%. The company's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, equities analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at MACOM Technology Solutions

In related news, CEO Stephen G. Daly sold 2,380 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $125.70, for a total transaction of $299,166.00. Following the sale, the chief executive officer directly owned 24,573 shares of the company's stock, valued at $3,088,826.10. This trade represents a 8.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert Dennehy sold 5,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $140.42, for a total value of $702,100.00. Following the sale, the senior vice president directly owned 15,680 shares in the company, valued at approximately $2,201,785.60. This trade represents a 24.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 452,756 shares of company stock worth $56,158,217. 16.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BNP Paribas raised 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. Bank of America lifted their target price on MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Stifel Nicolaus lifted their target price on MACOM Technology Solutions from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wall Street Zen raised MACOM Technology Solutions from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Finally, Truist Financial boosted their price target on MACOM Technology Solutions from $136.00 to $154.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $139.90.

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.