MACOM Technology Solutions (NASDAQ:MTSI) Sets New 52-Week High – Here’s Why

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $144.79 and last traded at $143.80, with a volume of 54014 shares traded. The stock had previously closed at $140.89.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MTSI shares. Barclays lifted their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Northland Securities raised their price target on shares of MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Piper Sandler lifted their price target on MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Benchmark increased their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $128.00.

MACOM Technology Solutions Stock Up 1.8 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 141.18, a PEG ratio of 2.33 and a beta of 1.71. The business’s 50 day moving average is $134.52 and its 200-day moving average is $117.43.

Insider Activity

In other news, CFO John Kober sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $130.09, for a total transaction of $292,702.50. Following the completion of the sale, the chief financial officer now owns 49,239 shares in the company, valued at approximately $6,405,501.51. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen G. Daly sold 4,742 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $118.32, for a total value of $561,073.44. Following the completion of the sale, the chief executive officer now directly owns 65,577 shares of the company’s stock, valued at $7,759,070.64. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,212 shares of company stock worth $28,778,424 over the last three months. Insiders own 22.75% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in MACOM Technology Solutions by 958.1% during the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock worth $149,214,000 after purchasing an additional 1,212,094 shares during the last quarter. Hood River Capital Management LLC increased its position in MACOM Technology Solutions by 280.5% during the second quarter. Hood River Capital Management LLC now owns 704,834 shares of the semiconductor company’s stock worth $78,568,000 after buying an additional 519,603 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of MACOM Technology Solutions by 21.0% during the third quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock valued at $134,686,000 after acquiring an additional 210,151 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in MACOM Technology Solutions by 52.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,623 shares of the semiconductor company’s stock worth $59,037,000 after purchasing an additional 182,058 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in MACOM Technology Solutions by 18.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock valued at $82,945,000 after purchasing an additional 116,090 shares during the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

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.