MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) SVP Robert Dennehy Sells 5,000 Shares

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Get Free Report) SVP Robert Dennehy sold 5,000 shares of the firm's stock in a transaction on 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 now owns 15,680 shares in the company, valued at $2,201,785.60. This trade represents a 24.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MACOM Technology Solutions Trading Up 2.2%

Shares of MACOM Technology Solutions stock traded up $3.06 during trading hours on Thursday, hitting $142.23. The company's stock had a trading volume of 499,567 shares, compared to its average volume of 694,489. The business has a fifty day moving average of $120.11 and a 200 day moving average of $120.73. MACOM Technology Solutions Holdings, Inc. has a 1-year low of $84.00 and a 1-year high of $152.50. The company has a quick ratio of 2.86, a current ratio of 3.56 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $10.57 billion, a PE ratio of -116.58, a P/E/G ratio of 2.70 and a beta of 1.40.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $235.89 million during the quarter, compared to the consensus estimate of $230.04 million. During the same period in the prior year, the firm earned $0.59 EPS. The firm'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.

Hedge Funds Weigh In On MACOM Technology Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in MACOM Technology Solutions by 38.9% in the fourth 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 in the last quarter. Norges Bank purchased a new position in shares of MACOM Technology Solutions in the fourth quarter valued at $82,833,000. Vanguard Group Inc. grew its holdings in MACOM Technology Solutions by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company's stock valued at $846,656,000 after purchasing an additional 368,979 shares in the last quarter. AQR Capital Management LLC increased its stake in MACOM Technology Solutions by 5,891.8% during the 1st quarter. AQR Capital Management LLC now owns 247,400 shares of the semiconductor company's stock worth $23,510,000 after buying an additional 243,271 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in MACOM Technology Solutions in the 4th quarter worth $31,260,000. 76.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTSI. Stifel Nicolaus decreased their price target on MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Truist Financial initiated coverage on shares of MACOM Technology Solutions in a research report on Friday, April 11th. They issued a "buy" rating and a $125.00 target price on the stock. BNP Paribas raised shares of MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 price target for the company in a research report on Wednesday, April 9th. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of MACOM Technology Solutions in a report on Friday, May 9th. Finally, Barclays upped their price objective on MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.50.

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.

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