Parallel Advisors LLC Reduces Stock Holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Parallel Advisors LLC lowered its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 19.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 554 shares of the semiconductor company’s stock after selling 134 shares during the quarter. Parallel Advisors LLC’s holdings in MACOM Technology Solutions were worth $56,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MTSI. Louisiana State Employees Retirement System boosted its stake in MACOM Technology Solutions by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the semiconductor company’s stock worth $2,092,000 after buying an additional 100 shares during the period. Russell Investments Group Ltd. boosted its stake in MACOM Technology Solutions by 1.4% during the fourth quarter. Russell Investments Group Ltd. now owns 7,160 shares of the semiconductor company’s stock worth $930,000 after buying an additional 100 shares during the period. Quadrant Capital Group LLC boosted its stake in MACOM Technology Solutions by 8.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,339 shares of the semiconductor company’s stock worth $174,000 after buying an additional 101 shares during the period. CIBC Asset Management Inc boosted its stake in MACOM Technology Solutions by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,250 shares of the semiconductor company’s stock worth $292,000 after buying an additional 112 shares during the period. Finally, Arizona State Retirement System boosted its stake in MACOM Technology Solutions by 0.7% during the fourth quarter. Arizona State Retirement System now owns 16,732 shares of the semiconductor company’s stock worth $2,174,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Down 2.1%

Shares of MACOM Technology Solutions stock opened at $125.04 on Monday. MACOM Technology Solutions Holdings, Inc. has a 52-week low of $84.00 and a 52-week high of $152.50. The company has a 50 day moving average of $110.60 and a 200 day moving average of $120.78. The company has a quick ratio of 2.88, a current ratio of 3.61 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $9.30 billion, a P/E ratio of -86.83, a P/E/G ratio of 2.42 and a beta of 1.40.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. The company had revenue of $235.89 million during the quarter, compared to the consensus estimate of $230.04 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. As a group, research analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Donghyun Thomas Hwang sold 6,471 shares of MACOM Technology Solutions stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $100.00, for a total value of $647,100.00. Following the completion of the transaction, the senior vice president now owns 35,603 shares in the company, valued at $3,560,300. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen G. Daly sold 9,374 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $127.81, for a total transaction of $1,198,090.94. Following the sale, the chief executive officer now directly owns 26,953 shares in the company, valued at approximately $3,444,862.93. The trade was a 25.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 446,847 shares of company stock worth $55,117,051 over the last 90 days. 16.30% of the stock is owned by insiders.

Analysts Set New Price Targets

MTSI has been the subject of several research analyst reports. BNP Paribas raised shares of MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Wednesday, April 9th. Barclays raised their price objective on shares of MACOM Technology Solutions from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Bank of America lowered their price objective on shares of MACOM Technology Solutions from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their price objective on shares of MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $130.50.

MACOM Technology Solutions 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, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.