New Mexico Educational Retirement Board increased its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI – Free Report) by 20.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,300 shares of the semiconductor company’s stock after purchasing an additional 1,600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in MACOM Technology Solutions were worth $659,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MTSI. Raymond James & Associates purchased a new position in MACOM Technology Solutions during the 1st quarter valued at about $354,000. MetLife Investment Management LLC increased its holdings in 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 acquiring an additional 9,357 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 acquiring an additional 13,293 shares in the last quarter. Sei Investments Co. increased its holdings in 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 acquiring an additional 26,291 shares in the last quarter. Finally, Covestor Ltd increased its holdings in 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 acquiring an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.
MACOM Technology Solutions Price Performance
MTSI opened at $69.92 on Tuesday. The stock has a market capitalization of $4.96 billion, a PE ratio of 15.27, a P/E/G ratio of 7.61 and a beta of 1.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 7.85 and a current ratio of 9.30. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $48.53 and a 1 year high of $76.56. The company’s 50 day simple moving average is $62.74 and its 200 day simple moving average is $64.28.
Insider Activity
In other news, SVP Robert Dennehy sold 3,250 shares of MACOM Technology Solutions stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $61.07, for a total transaction of $198,477.50. Following the sale, the senior vice president now owns 42,335 shares in the company, valued at $2,585,398.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Ambra R. Roth sold 830 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $60.00, for a total transaction of $49,800.00. Following the completion of the transaction, the senior vice president now owns 8,469 shares of the company’s stock, valued at $508,140. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert Dennehy sold 3,250 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $61.07, for a total transaction of $198,477.50. Following the transaction, the senior vice president now directly owns 42,335 shares of the company’s stock, valued at approximately $2,585,398.45. The disclosure for this sale can be found here. Insiders have sold 7,330 shares of company stock worth $462,128 over the last 90 days. Company insiders own 24.00% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on MTSI. TD Cowen decreased their price target on shares of MACOM Technology Solutions from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. StockNews.com began coverage on shares of MACOM Technology Solutions in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Bank of America cut shares of MACOM Technology Solutions from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research note on Tuesday, July 18th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.63.
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, Taiwan, Japan, Singapore, Thailand, South Korea, Australia, Malaysia, and internationally.
Further Reading
- Five stocks we like better than MACOM Technology Solutions
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Can the Amazon Partnership Put DISH Network Back on Track?
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- Snap Stock: Two Steps Forward and One Step Back In?
- How to Invest in Communication Stocks
- ONSemi Is On Target For New Highs In 2023
Receive News & Ratings for MACOM Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MACOM Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.
