Point72 Asset Management L.P. Trims Stock Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Point72 Asset Management L.P. trimmed its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,972,454 shares of the semiconductor company's stock after selling 582,903 shares during the quarter. MACOM Technology Solutions accounts for 0.6% of Point72 Asset Management L.P.'s holdings, making the stock its 21st largest holding. Point72 Asset Management L.P. owned about 2.65% of MACOM Technology Solutions worth $256,241,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MTSI. Price T Rowe Associates Inc. MD lifted its stake in shares of MACOM Technology Solutions by 38.9% during 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 purchasing an additional 1,120,510 shares during the last quarter. Norges Bank acquired a new position in MACOM Technology Solutions during the 4th quarter valued at about $82,833,000. Vanguard Group Inc. increased its position 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 buying an additional 368,979 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in MACOM Technology Solutions during the 4th quarter valued at about $31,260,000. Finally, Nuveen Asset Management LLC increased its position in MACOM Technology Solutions by 129.4% during the 4th quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company's stock valued at $42,621,000 after buying an additional 185,075 shares in the last quarter. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BNP Paribas raised MACOM Technology Solutions from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a research report on Wednesday, April 9th. Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of MACOM Technology Solutions in a research report on Friday, May 9th. Stifel Nicolaus cut their price objective on MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Truist Financial initiated coverage on MACOM Technology Solutions in a report on Friday, April 11th. They issued a "buy" rating and a $125.00 price objective on the stock. Finally, Bank of America dropped their target price on MACOM Technology Solutions from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $130.50.

Insider Activity

In other news, SVP Donghyun Thomas Hwang sold 4,944 shares of MACOM Technology Solutions stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $118.59, for a total value of $586,308.96. Following the completion of the sale, the senior vice president now directly owns 30,659 shares of the company's stock, valued at approximately $3,635,850.81. The trade was a 13.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Ocampo sold 300,000 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $124.13, for a total value of $37,239,000.00. Following the transaction, the director now directly owns 4,823,636 shares of the company's stock, valued at $598,757,936.68. The trade was a 5.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 708,944 shares of company stock valued at $87,647,791. 16.30% of the stock is currently owned by corporate insiders.

MACOM Technology Solutions Trading Up 0.8%

MACOM Technology Solutions stock traded up $0.93 during trading on Friday, reaching $123.46. 1,306,630 shares of the company were exchanged, compared to its average volume of 683,556. MACOM Technology Solutions Holdings, Inc. has a 52-week low of $84.00 and a 52-week high of $152.50. The company has a market capitalization of $9.18 billion, a P/E ratio of -85.74, a PEG ratio of 2.42 and a beta of 1.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.61 and a quick ratio of 2.88. The stock's 50 day simple moving average is $105.45 and its two-hundred day simple moving average is $121.00.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $235.89 million for the quarter, compared to the consensus estimate of $230.04 million. During the same quarter last year, the business posted $0.59 earnings per share. The firm's revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts expect 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.