MACOM Technology Solutions (NASDAQ:MTSI) Reaches New 1-Year High – Here’s What Happened

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) hit a new 52-week high on Wednesday . The company traded as high as $149.73 and last traded at $148.78, with a volume of 527776 shares traded. The stock had previously closed at $145.41.

Analysts Set New Price Targets

MTSI has been the topic of several analyst reports. 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 lifted their price objective on shares of MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a research report on Monday, November 11th. Benchmark increased their target price on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler lifted their price target on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.00.

MACOM Technology Solutions Stock Performance

The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 141.78, a P/E/G ratio of 2.61 and a beta of 1.71. The company has a current ratio of 8.35, a quick ratio of 6.55 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $135.84 and a 200-day moving average of $118.38.

Insider Activity

In other news, Director Susan Ocampo sold 105,782 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $123.67, for a total value of $13,082,059.94. Following the sale, the director now owns 5,914,008 shares in the company, valued at $731,385,369.36. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen G. Daly sold 4,742 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $118.32, for a total transaction of $561,073.44. Following the transaction, the chief executive officer now owns 65,577 shares of the company’s stock, valued at $7,759,070.64. This represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,212 shares of company stock valued at $28,778,424. Company insiders own 16.30% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. grew its holdings in MACOM Technology Solutions by 74.3% during the fourth quarter. UMB Bank n.a. now owns 237 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 101 shares during the period. EP Wealth Advisors LLC boosted its position in MACOM Technology Solutions by 4.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,602 shares of the semiconductor company’s stock worth $290,000 after purchasing an additional 107 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of MACOM Technology Solutions by 6.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,371 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 137 shares during the period. Avior Wealth Management LLC increased its holdings in shares of MACOM Technology Solutions by 3.4% during the 3rd quarter. Avior Wealth Management LLC now owns 4,802 shares of the semiconductor company’s stock valued at $534,000 after purchasing an additional 157 shares in the last quarter. Finally, Chartwell Investment Partners LLC lifted its stake in shares of MACOM Technology Solutions by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 25,014 shares of the semiconductor company’s stock valued at $2,783,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 76.14% of the company’s stock.

About MACOM Technology Solutions

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.