MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) SVP Robert Dennehy Sells 14,763 Shares of Stock

Posted by Defense World Staff on Jan 12th, 2023

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI – Get Rating) SVP Robert Dennehy sold 14,763 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $67.00, for a total transaction of $989,121.00. Following the sale, the senior vice president now directly owns 62,199 shares of the company’s stock, valued at approximately $4,167,333. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Robert Dennehy also recently made the following trade(s):

On Tuesday, January 3rd, Robert Dennehy sold 1,404 shares of MACOM Technology Solutions stock. The shares were sold at an average price of $64.07, for a total transaction of $89,954.28.
On Friday, December 23rd, Robert Dennehy sold 10,498 shares of MACOM Technology Solutions stock. The stock was sold at an average price of $63.31, for a total transaction of $664,628.38.
On Tuesday, November 22nd, Robert Dennehy sold 2,000 shares of MACOM Technology Solutions stock. The stock was sold at an average price of $68.63, for a total transaction of $137,260.00.
On Wednesday, November 2nd, Robert Dennehy sold 6,500 shares of MACOM Technology Solutions stock. The stock was sold at an average price of $59.90, for a total transaction of $389,350.00.

MACOM Technology Solutions Stock Performance

Shares of MTSI stock opened at $64.00 on Thursday. The business’s fifty day simple moving average is $66.23 and its 200-day simple moving average is $58.52. The company has a market cap of $4.52 billion, a PE ratio of 10.36, a PEG ratio of 2.24 and a beta of 1.97. The company has a current ratio of 8.36, a quick ratio of 7.18 and a debt-to-equity ratio of 0.71. MACOM Technology Solutions Holdings, Inc. has a 12-month low of $42.85 and a 12-month high of $76.41.

MACOM Technology Solutions (NASDAQ:MTSI – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The semiconductor company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $178.14 million for the quarter, compared to analyst estimates of $177.11 million. MACOM Technology Solutions had a net margin of 65.16% and a return on equity of 25.35%. Analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MACOM Technology Solutions

A number of large investors have recently made changes to their positions in the stock. Fulton Bank N.A. purchased a new stake in shares of MACOM Technology Solutions during the fourth quarter valued at $240,000. Bank of New York Mellon Corp grew its holdings in shares of MACOM Technology Solutions by 136.0% during the third quarter. Bank of New York Mellon Corp now owns 507,452 shares of the semiconductor company’s stock valued at $26,281,000 after buying an additional 292,386 shares during the last quarter. Eagle Bay Advisors LLC grew its holdings in shares of MACOM Technology Solutions by 10.1% during the third quarter. Eagle Bay Advisors LLC now owns 2,185 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 200 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of MACOM Technology Solutions during the third quarter valued at $376,000. Finally, Retirement Systems of Alabama purchased a new stake in MACOM Technology Solutions in the third quarter valued at $3,465,000. 74.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MTSI has been the subject of a number of recent research reports. Craig Hallum downgraded shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $73.00 to $65.00 in a research note on Wednesday. Needham & Company LLC boosted their price objective on shares of MACOM Technology Solutions from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Benchmark downgraded shares of MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research note on Monday, November 7th. Finally, StockNews.com downgraded MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, October 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

About MACOM Technology Solutions

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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.