Retirement Systems of Alabama Buys 29,852 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Posted by Defense World Staff on May 4th, 2023

Retirement Systems of Alabama grew 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 Form 13F filing with the Securities and Exchange Commission. The fund owned 96,749 shares of the semiconductor company’s stock after acquiring an additional 29,852 shares during the period. Retirement Systems of Alabama owned 0.14% of MACOM Technology Solutions worth $6,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Knights of Columbus Asset Advisors LLC raised its stake in shares of MACOM Technology Solutions by 13.4% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 42,531 shares of the semiconductor company’s stock worth $2,203,000 after buying an additional 5,039 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of MACOM Technology Solutions by 26.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,991 shares of the semiconductor company’s stock worth $114,000 after buying an additional 421 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of MACOM Technology Solutions by 138.7% during the third quarter. New York State Common Retirement Fund now owns 113,742 shares of the semiconductor company’s stock worth $5,891,000 after buying an additional 66,098 shares during the last quarter. State of Michigan Retirement System bought a new stake in shares of MACOM Technology Solutions during the third quarter worth approximately $668,000. Finally, Versor Investments LP raised its stake in shares of MACOM Technology Solutions by 40.8% during the third quarter. Versor Investments LP now owns 16,317 shares of the semiconductor company’s stock worth $845,000 after buying an additional 4,728 shares during the last quarter. 74.93% of the stock is owned by institutional investors.

MACOM Technology Solutions Stock Down 0.4 %

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

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

Insider Transactions at MACOM Technology Solutions

In other news, SVP Robert Dennehy sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $68.92, for a total value of $223,990.00. Following the sale, the senior vice president now owns 52,449 shares of the company’s stock, valued at $3,614,785.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Stephen G. Daly sold 22,289 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $70.97, for a total value of $1,581,850.33. Following the sale, the chief executive officer now owns 173,294 shares of the company’s stock, valued at $12,298,675.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Robert Dennehy sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $68.92, for a total transaction of $223,990.00. Following the completion of the sale, the senior vice president now directly owns 52,449 shares in the company, valued at approximately $3,614,785.08. The disclosure for this sale can be found here. Insiders have sold a total of 140,395 shares of company stock valued at $9,609,820 over the last 90 days. 24.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MTSI shares. Northland Securities cut shares of MACOM Technology Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a report on Friday, February 3rd. BNP Paribas started coverage on shares of MACOM Technology Solutions in a report on Tuesday, February 28th. They set a “neutral” rating and a $65.00 price objective for the company. Stifel Nicolaus boosted their price objective on shares of MACOM Technology Solutions from $75.00 to $82.00 in a report on Thursday, March 9th. Craig Hallum cut shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the company from $73.00 to $65.00 in a report on Wednesday, January 11th. Finally, Needham & Company LLC boosted their price objective on shares of MACOM Technology Solutions from $68.00 to $76.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.89.

About MACOM Technology Solutions

(Get Rating)

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.