MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Shares Sold by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC lessened its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,700 shares of the semiconductor company’s stock after selling 5,000 shares during the quarter. MACOM Technology Solutions comprises 0.8% of Avalon Global Asset Management LLC’s holdings, making the stock its 28th largest position. Avalon Global Asset Management LLC’s holdings in MACOM Technology Solutions were worth $5,641,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd raised its stake in MACOM Technology Solutions by 10.7% in the 3rd quarter. Point72 Hong Kong Ltd now owns 164,097 shares of the semiconductor company’s stock valued at $18,257,000 after purchasing an additional 15,805 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of MACOM Technology Solutions by 3.3% during the third quarter. MetLife Investment Management LLC now owns 29,815 shares of the semiconductor company’s stock worth $3,317,000 after buying an additional 940 shares in the last quarter. Townsquare Capital LLC raised its position in shares of MACOM Technology Solutions by 7.9% in the third quarter. Townsquare Capital LLC now owns 3,375 shares of the semiconductor company’s stock valued at $376,000 after buying an additional 248 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of MACOM Technology Solutions in the third quarter worth about $1,891,000. Finally, The Manufacturers Life Insurance Company boosted its position in MACOM Technology Solutions by 18.4% during the third quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after acquiring an additional 116,090 shares during the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $457,493.75. Following the transaction, the senior vice president now directly owns 37,148 shares in the company, valued at approximately $3,884,566.36. This represents a 10.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Robert Dennehy sold 6,915 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total transaction of $701,042.70. Following the completion of the sale, the senior vice president now owns 19,481 shares of the company’s stock, valued at $1,974,983.78. This trade represents a 26.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 234,886 shares of company stock valued at $29,454,289 in the last quarter. Insiders own 22.75% of the company’s stock.

MACOM Technology Solutions Trading Up 0.9 %

Shares of MACOM Technology Solutions stock opened at $132.82 on Monday. The stock has a 50 day moving average of $119.42 and a 200 day moving average of $109.61. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 128.95, a PEG ratio of 2.33 and a beta of 1.69. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $79.25 and a fifty-two week high of $140.27.

Wall Street Analyst Weigh In

A number of analysts have commented on MTSI shares. Barclays increased their price objective on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Benchmark upped their price target on MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Northland Securities lifted their price objective on MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a research report on Monday, November 11th. Finally, Piper Sandler boosted their price objective on MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, MACOM Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.91.

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.