MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Position Reduced by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP reduced its stake in MACOM Technology Solutions by 27.1% to 721,904 shares, valued at approximately $72.47 million.
• Several institutional investors increased their holdings in MACOM, with LPL Financial LLC growing its position by 57.2% and Wellington Management Group acquiring a new stake valued at $14.65 million.
• Analysts have a consensus rating of "Buy" for MACOM stock, with target prices ranging from $135.00 to $160.00, reflecting strong confidence in the company's future performance.

Westfield Capital Management Co. LP lessened its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 27.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 721,904 shares of the semiconductor company's stock after selling 268,775 shares during the quarter. Westfield Capital Management Co. LP owned about 0.97% of MACOM Technology Solutions worth $72,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC boosted its position in shares of MACOM Technology Solutions by 57.2% during the 4th quarter. LPL Financial LLC now owns 6,636 shares of the semiconductor company's stock worth $862,000 after acquiring an additional 2,415 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of MACOM Technology Solutions by 9.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,344 shares of the semiconductor company's stock worth $1,084,000 after buying an additional 706 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MACOM Technology Solutions in the 4th quarter worth approximately $2,461,000. Wellington Management Group LLP acquired a new stake in MACOM Technology Solutions during the 4th quarter valued at $14,645,000. Finally, Geode Capital Management LLC grew 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 buying an additional 6,784 shares during the last quarter. Hedge funds and other institutional investors own 76.14% of the company's stock.

Insider Buying and Selling

In other MACOM Technology Solutions news, CEO Stephen G. Daly sold 14,665 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $122.71, for a total value of $1,799,542.15. Following the completion of the transaction, the chief executive officer directly owned 36,327 shares in the company, valued at $4,457,686.17. The trade was a 28.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donghyun Thomas Hwang sold 5,000 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $137.40, for a total value of $687,000.00. Following the sale, the senior vice president directly owned 30,779 shares in the company, valued at approximately $4,229,034.60. This trade represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 452,756 shares of company stock valued at $56,158,217 over the last 90 days. 16.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Truist Financial increased their price target on MACOM Technology Solutions from $136.00 to $154.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Wall Street Zen raised MACOM Technology Solutions from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. Stifel Nicolaus increased their target price on MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Bank of America increased their target price on MACOM Technology Solutions from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $146.13.

MACOM Technology Solutions Stock Up 1.3%

Shares of MACOM Technology Solutions stock traded up $1.75 during trading hours on Wednesday, hitting $139.03. 1,037,823 shares of the company's stock traded hands, compared to its average volume of 494,464. The company has a market cap of $10.34 billion, a PE ratio of -113.96, a PEG ratio of 2.65 and a beta of 1.38. MACOM Technology Solutions Holdings, Inc. has a twelve month low of $84.00 and a twelve month high of $152.50. The stock has a 50 day simple moving average of $135.23 and a 200-day simple moving average of $121.26. 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 (NASDAQ:MTSI - Get Free Report) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $230.04 million. During the same period in the previous year, the firm posted $0.59 earnings per share. MACOM Technology Solutions's quarterly revenue was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.