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

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 reduced its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent 13F filing 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 approximately 0.97% of MACOM Technology Solutions worth $72,465,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in MACOM Technology Solutions by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 136,978 shares of the semiconductor company's stock valued at $13,750,000 after acquiring an additional 4,249 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in shares of MACOM Technology Solutions by 27.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 2,407 shares of the semiconductor company's stock worth $242,000 after acquiring an additional 511 shares in the last quarter. GAMMA Investing LLC raised its position in shares of MACOM Technology Solutions by 24.4% during the 1st quarter. GAMMA Investing LLC now owns 1,455 shares of the semiconductor company's stock worth $146,000 after acquiring an additional 285 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of MACOM Technology Solutions by 18.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,280 shares of the semiconductor company's stock worth $329,000 after acquiring an additional 502 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in MACOM Technology Solutions by 23.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,896 shares of the semiconductor company's stock worth $1,395,000 after buying an additional 2,655 shares during the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTSI. Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of MACOM Technology Solutions in a research report on Friday, May 9th. Wall Street Zen upgraded MACOM Technology Solutions from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Bank of America upped their target price on MACOM Technology Solutions from $140.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Truist Financial lifted 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. Finally, Stifel Nicolaus lifted their target price on shares of MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $146.13.

Insider Transactions at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 5,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $140.42, for a total transaction of $702,100.00. Following the completion of the sale, the senior vice president owned 15,680 shares of the company's stock, valued at approximately $2,201,785.60. The trade was a 24.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Kober sold 2,250 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $125.65, for a total value of $282,712.50. Following the sale, the chief financial officer directly owned 47,128 shares of the company's stock, valued at approximately $5,921,633.20. This trade represents a 4.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 447,812 shares of company stock valued at $55,571,908. Corporate insiders own 16.30% of the company's stock.

MACOM Technology Solutions Price Performance

Shares of NASDAQ:MTSI traded down $6.53 on Friday, hitting $121.22. The company had a trading volume of 1,285,185 shares, compared to its average volume of 757,148. The company has a current ratio of 3.56, a quick ratio of 2.86 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 has a 50 day moving average of $135.64 and a 200 day moving average of $121.26. The company has a market cap of $9.01 billion, a PE ratio of -99.35, a PEG ratio of 2.68 and a beta of 1.38.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $252.08 million during the quarter, compared to analyst estimates of $249.89 million. MACOM Technology Solutions had a positive return on equity of 13.32% and a negative net margin of 10.24%. The business's quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. As a group, equities analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share 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.