PNC Financial Services Group Inc. Trims Stock Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Posted by Defense World Staff on Jun 1st, 2023

PNC Financial Services Group Inc. trimmed its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI – Get Rating) by 35.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,588 shares of the semiconductor company’s stock after selling 7,541 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MACOM Technology Solutions were worth $856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTSI. Price T Rowe Associates Inc. MD grew its holdings in MACOM Technology Solutions by 9,920.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,961,661 shares of the semiconductor company’s stock valued at $101,596,000 after buying an additional 1,942,084 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in MACOM Technology Solutions in the third quarter worth $23,848,000. Vanguard Group Inc. lifted its position in MACOM Technology Solutions by 8.5% in the third quarter. Vanguard Group Inc. now owns 5,204,555 shares of the semiconductor company’s stock worth $269,545,000 after buying an additional 408,017 shares during the last quarter. Bank of New York Mellon Corp lifted its position in MACOM Technology Solutions by 136.0% in the third quarter. Bank of New York Mellon Corp now owns 507,452 shares of the semiconductor company’s stock worth $26,281,000 after buying an additional 292,386 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in MACOM Technology Solutions by 896.6% in the first quarter. The Manufacturers Life Insurance Company now owns 248,461 shares of the semiconductor company’s stock worth $14,875,000 after buying an additional 223,530 shares during the last quarter. 74.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MTSI shares. TD Cowen decreased their target price on MACOM Technology Solutions from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 5th. BNP Paribas started coverage on MACOM Technology Solutions in a research report on Tuesday, February 28th. They set a “neutral” rating and a $65.00 target price for the company. Northland Securities downgraded MACOM Technology Solutions from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a research report on Friday, February 3rd. Stifel Nicolaus lifted their target price on MACOM Technology Solutions from $75.00 to $82.00 in a research report on Thursday, March 9th. Finally, StockNews.com assumed coverage on MACOM Technology Solutions in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $69.40.

Insiders Place Their Bets

In related news, SVP Ambra R. Roth sold 830 shares of MACOM Technology Solutions stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $60.00, for a total transaction of $49,800.00. Following the completion of the sale, the senior vice president now owns 8,469 shares of the company’s stock, valued at $508,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Ambra R. Roth sold 830 shares of MACOM Technology Solutions stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $60.00, for a total transaction of $49,800.00. Following the completion of the sale, the senior vice president now owns 8,469 shares of the company’s stock, valued at $508,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen G. Daly sold 22,289 shares of MACOM Technology Solutions stock in a transaction dated Tuesday, March 14th. The stock was 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 directly owns 173,294 shares of the company’s stock, valued at approximately $12,298,675.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,619 shares of company stock valued at $4,866,840. 24.00% of the stock is currently owned by corporate insiders.

MACOM Technology Solutions Price Performance

Shares of NASDAQ MTSI opened at $59.83 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 7.85 and a current ratio of 9.30. The company has a market cap of $4.24 billion, a PE ratio of 13.06, a P/E/G ratio of 2.99 and a beta of 1.86. The business has a 50-day simple moving average of $61.65 and a two-hundred day simple moving average of $65.16. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $42.85 and a fifty-two week high of $76.56.

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.