MACOM Technology Solutions (NASDAQ:MTSI) Sets New 52-Week High – Here’s What Happened

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) shares reached a new 52-week high on Wednesday . The company traded as high as $122.60 and last traded at $121.74, with a volume of 27841 shares traded. The stock had previously closed at $116.69.

Analyst Ratings Changes

A number of brokerages have issued reports on MTSI. Stifel Nicolaus upped their price objective on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler upped their price objective on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Benchmark upped their price objective on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Needham & Company LLC upped their price objective on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, MACOM Technology Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $128.00.

MACOM Technology Solutions Stock Down 0.9 %

The company has a market capitalization of $9.95 billion, a PE ratio of 140.67, a PEG ratio of 4.64 and a beta of 1.69. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 8.18. The stock’s 50 day moving average is $110.02 and its 200 day moving average is $106.28.

Insider Activity at MACOM Technology Solutions

In related news, SVP Donghyun Thomas Hwang sold 4,375 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $104.57, for a total transaction of $457,493.75. Following the sale, the senior vice president now directly owns 37,148 shares in the company, valued at approximately $3,884,566.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 4,375 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $104.57, for a total value of $457,493.75. Following the sale, the senior vice president now directly owns 37,148 shares in the company, valued at $3,884,566.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen G. Daly sold 7,122 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $112.53, for a total transaction of $801,438.66. Following the completion of the sale, the chief executive officer now owns 55,826 shares in the company, valued at $6,282,099.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 670,896 shares of company stock worth $71,284,378. 22.75% of the stock is owned by corporate insiders.

Institutional Trading of MACOM Technology Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of MACOM Technology Solutions by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after purchasing an additional 465,759 shares during the last quarter. Sei Investments Co. grew its holdings in MACOM Technology Solutions by 14.4% in the 1st quarter. Sei Investments Co. now owns 297,615 shares of the semiconductor company’s stock worth $28,464,000 after acquiring an additional 37,407 shares during the last quarter. Tidal Investments LLC grew its holdings in MACOM Technology Solutions by 175.1% in the 1st quarter. Tidal Investments LLC now owns 11,032 shares of the semiconductor company’s stock worth $1,055,000 after acquiring an additional 7,022 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MACOM Technology Solutions by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock worth $132,821,000 after acquiring an additional 154,066 shares during the last quarter. Finally, Thornburg Investment Management Inc. grew its holdings in MACOM Technology Solutions by 44.1% in the 1st quarter. Thornburg Investment Management Inc. now owns 94,819 shares of the semiconductor company’s stock worth $9,088,000 after acquiring an additional 29,004 shares during the last quarter. 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.