Jennison Associates LLC Trims Stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Jennison Associates LLC cut its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 18.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,005 shares of the semiconductor company's stock after selling 74,061 shares during the quarter. Jennison Associates LLC owned about 0.46% of MACOM Technology Solutions worth $30,767,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RiverPark Advisors LLC bought a new position in shares of MACOM Technology Solutions during the third quarter valued at $58,000. Headlands Technologies LLC bought a new stake in MACOM Technology Solutions in the 3rd quarter worth about $144,000. International Assets Investment Management LLC bought a new stake in MACOM Technology Solutions in the 4th quarter worth about $156,000. EP Wealth Advisors LLC bought a new stake in MACOM Technology Solutions in the 3rd quarter worth about $208,000. Finally, Pathstone Family Office LLC bought a new stake in MACOM Technology Solutions in the 3rd quarter worth about $209,000. 76.14% of the stock is currently owned by institutional investors.

MACOM Technology Solutions Stock Performance

Shares of MTSI stock traded down $0.14 during trading hours on Thursday, reaching $100.58. 423,225 shares of the company traded hands, compared to its average volume of 506,534. MACOM Technology Solutions Holdings, Inc. has a 12-month low of $48.53 and a 12-month high of $104.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 7.24 and a quick ratio of 5.69. The company has a market cap of $7.25 billion, a P/E ratio of 96.31, a P/E/G ratio of 6.26 and a beta of 1.64. The firm has a 50-day moving average price of $93.97 and a 200 day moving average price of $87.31.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates of $0.43. MACOM Technology Solutions had a return on equity of 14.85% and a net margin of 11.93%. The firm had revenue of $157.15 million for the quarter, compared to analysts' expectations of $151.12 million. As a group, sell-side analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.02 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Donghyun Thomas Hwang sold 6,234 shares of the business's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $87.77, for a total value of $547,158.18. Following the transaction, the senior vice president now directly owns 57,722 shares of the company's stock, valued at approximately $5,066,259.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Donghyun Thomas Hwang sold 6,234 shares of the business's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $87.77, for a total value of $547,158.18. Following the transaction, the senior vice president now directly owns 57,722 shares of the company's stock, valued at approximately $5,066,259.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $82.39, for a total value of $16,478,000.00. Following the completion of the transaction, the director now directly owns 7,645,668 shares in the company, valued at $629,926,586.52. The disclosure for this sale can be found here. Insiders have sold a total of 811,058 shares of company stock valued at $68,674,574 in the last ninety days. Corporate insiders own 22.75% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on MTSI. TheStreet downgraded MACOM Technology Solutions from a "b" rating to a "c+" rating in a report on Thursday, February 1st. Barclays lifted their price objective on MACOM Technology Solutions from $80.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday, January 16th. Stifel Nicolaus lifted their price objective on MACOM Technology Solutions from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. Evercore ISI started coverage on MACOM Technology Solutions in a research report on Tuesday, April 16th. They issued an "outperform" rating and a $120.00 target price on the stock. Finally, Needham & Company LLC raised their target price on MACOM Technology Solutions from $84.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $99.67.

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.