Insider Selling: MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) CEO Sells 7,122 Shares of Stock

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) CEO Stephen G. Daly sold 7,122 shares of MACOM Technology Solutions stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $112.53, for a total value of $801,438.66. Following the transaction, the chief executive officer now directly owns 55,826 shares of the company’s stock, valued at approximately $6,282,099.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MACOM Technology Solutions Stock Down 4.6 %

Shares of NASDAQ MTSI opened at $112.40 on Friday. The firm has a 50 day moving average price of $108.39 and a 200 day moving average price of $105.39. 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 has a market cap of $8.11 billion, a P/E ratio of 114.69, a P/E/G ratio of 4.49 and a beta of 1.70. MACOM Technology Solutions Holdings, Inc. has a 52-week low of $68.58 and a 52-week high of $122.60.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $190.50 million during the quarter, compared to analyst estimates of $190.42 million. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. Analysts expect that MACOM Technology Solutions Holdings, Inc. will post 1.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC boosted their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Piper Sandler upped their target price on MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Benchmark reiterated a “buy” rating and set a $120.00 price objective on shares of MACOM Technology Solutions in a research note on Thursday, September 12th. Barclays lifted their price target on MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price target on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, MACOM Technology Solutions has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MTSI. Verity Asset Management Inc. acquired a new stake in shares of MACOM Technology Solutions during the third quarter worth about $288,000. Harbor Capital Advisors Inc. bought a new stake in MACOM Technology Solutions during the 3rd quarter worth approximately $688,000. Farther Finance Advisors LLC increased its stake in MACOM Technology Solutions by 303.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 920 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 692 shares in the last quarter. New York State Common Retirement Fund raised its holdings in MACOM Technology Solutions by 1.9% during the 3rd quarter. New York State Common Retirement Fund now owns 263,830 shares of the semiconductor company’s stock worth $29,354,000 after buying an additional 4,813 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in MACOM Technology Solutions by 6.3% in the third quarter. Stephens Investment Management Group LLC now owns 505,621 shares of the semiconductor company’s stock valued at $56,255,000 after buying an additional 29,882 shares in the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

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.