Wedmont Private Capital Takes $202,000 Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Wedmont Private Capital purchased a new stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,067 shares of the semiconductor company's stock, valued at approximately $202,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in MACOM Technology Solutions by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company's stock valued at $846,656,000 after buying an additional 368,979 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MACOM Technology Solutions by 38.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company's stock worth $519,399,000 after acquiring an additional 1,120,510 shares during the period. Geode Capital Management LLC boosted its holdings in shares of MACOM Technology Solutions by 0.7% in the fourth 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 in the last quarter. Millennium Management LLC boosted its holdings in shares of MACOM Technology Solutions by 14.8% in the fourth quarter. Millennium Management LLC now owns 850,687 shares of the semiconductor company's stock valued at $110,513,000 after acquiring an additional 109,529 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of MACOM Technology Solutions during the fourth quarter worth about $82,833,000. Hedge funds and other institutional investors own 76.14% of the company's stock.

Wall Street Analysts Forecast Growth

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 price objective on the stock in a report on Wednesday, April 9th. Bank of America decreased their price target on MACOM Technology Solutions from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus cut their price objective on 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. Truist Financial assumed coverage on MACOM Technology Solutions in a research note on Friday, April 11th. They set a "buy" rating and a $125.00 price target on the stock. Finally, 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. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $130.50.

MACOM Technology Solutions Trading Down 2.5%

MACOM Technology Solutions stock traded down $3.32 during trading on Friday, hitting $128.97. The company's stock had a trading volume of 827,948 shares, compared to its average volume of 690,789. The stock's fifty day moving average is $114.28 and its 200 day moving average is $120.71. 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 capitalization of $9.59 billion, a price-to-earnings ratio of -89.56, a P/E/G ratio of 2.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.88 and a current ratio of 3.61.

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 the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a positive return on equity of 12.42% and a negative net margin of 13.05%. The business had revenue of $235.89 million for the quarter, compared to analyst estimates of $230.04 million. During the same period last year, the company posted $0.59 EPS. The business's quarterly revenue was up 30.2% on a year-over-year basis. As a group, equities research analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current year.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 6,471 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $100.00, for a total transaction of $647,100.00. Following the transaction, the senior vice president now owns 35,603 shares in the company, valued at $3,560,300. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen G. Daly sold 2,380 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $125.70, for a total value of $299,166.00. Following the completion of the sale, the chief executive officer now directly owns 24,573 shares of the company's stock, valued at $3,088,826.10. The trade was a 8.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,227 shares of company stock worth $55,416,217. Company insiders own 16.30% of the company's stock.

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.