MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Holdings Raised by Retirement Systems of Alabama

Posted by Defense World Staff on May 4th, 2023

Retirement Systems of Alabama boosted its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI – Get Rating) by 44.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,749 shares of the semiconductor company’s stock after buying an additional 29,852 shares during the quarter. Retirement Systems of Alabama owned approximately 0.14% of MACOM Technology Solutions worth $6,093,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James & Associates bought a new position in shares of MACOM Technology Solutions during the 1st quarter valued at $354,000. MetLife Investment Management LLC raised its holdings in shares of MACOM Technology Solutions by 55.9% during the 1st quarter. MetLife Investment Management LLC now owns 26,105 shares of the semiconductor company’s stock valued at $1,563,000 after purchasing an additional 9,357 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MACOM Technology Solutions by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 648,503 shares of the semiconductor company’s stock valued at $38,827,000 after purchasing an additional 13,293 shares in the last quarter. Sei Investments Co. raised its holdings in shares of MACOM Technology Solutions by 11.2% during the 1st quarter. Sei Investments Co. now owns 261,479 shares of the semiconductor company’s stock valued at $15,602,000 after purchasing an additional 26,291 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of MACOM Technology Solutions by 97.7% during the 1st quarter. Covestor Ltd now owns 1,621 shares of the semiconductor company’s stock valued at $97,000 after purchasing an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 74.93% of the company’s stock.

Insider Activity at MACOM Technology Solutions

In related news, CFO John Kober sold 6,606 shares of MACOM Technology Solutions stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $66.27, for a total transaction of $437,779.62. Following the completion of the transaction, the chief financial officer now directly owns 79,704 shares of the company’s stock, valued at approximately $5,281,984.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MACOM Technology Solutions news, CFO John Kober sold 6,606 shares of the business’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $66.27, for a total value of $437,779.62. Following the completion of the transaction, the chief financial officer now directly owns 79,704 shares of the company’s stock, valued at $5,281,984.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Stephen G. Daly sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $66.30, for a total transaction of $1,989,000.00. Following the completion of the transaction, the chief executive officer now directly owns 270,583 shares of the company’s stock, valued at $17,939,652.90. The disclosure for this sale can be found here. Insiders sold 140,395 shares of company stock valued at $9,609,820 in the last ninety days. Insiders own 24.00% of the company’s stock.

Analyst Ratings Changes

MTSI has been the topic of a number of research analyst reports. StockNews.com lowered shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Craig Hallum lowered shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating and lowered their target price for the company from $73.00 to $65.00 in a research note on Wednesday, January 11th. Stifel Nicolaus raised their target price on shares of MACOM Technology Solutions from $75.00 to $82.00 in a research note on Thursday, March 9th. Needham & Company LLC raised their target price on shares of MACOM Technology Solutions from $68.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Finally, BNP Paribas initiated coverage on shares of MACOM Technology Solutions in a research note on Tuesday, February 28th. They issued a “neutral” rating and a $65.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.89.

MACOM Technology Solutions Trading Down 0.4 %

Shares of MTSI stock opened at $57.04 on Thursday. MACOM Technology Solutions Holdings, Inc. has a 12-month low of $42.85 and a 12-month high of $76.56. The company has a market capitalization of $4.04 billion, a P/E ratio of 12.29, a P/E/G ratio of 2.46 and a beta of 1.86. The firm has a 50-day moving average price of $66.48 and a 200 day moving average price of $65.35. The company has a quick ratio of 7.74, a current ratio of 9.04 and a debt-to-equity ratio of 0.70.

MACOM Technology Solutions (NASDAQ:MTSI – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. MACOM Technology Solutions had a net margin of 47.53% and a return on equity of 24.60%. The firm had revenue of $180.10 million during the quarter, compared to the consensus estimate of $179.48 million. Research analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.4 earnings per share for the current fiscal year.

MACOM Technology Solutions Profile

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MACOM Technology Solutions Holdings, Inc engages in designing, developing, manufacturing, and marketing semiconductors and modules. The firm is involved in the provision of products for telecommunications (Telecom), industrial and defense (I&D), and data center industries. The company was founded on March 25, 2009 and is headquartered in Lowell, MA.