Oppenheimer Asset Management Inc. Acquires 2,655 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Oppenheimer Asset Management Inc. lifted its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 23.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,896 shares of the semiconductor company’s stock after acquiring an additional 2,655 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MACOM Technology Solutions were worth $1,395,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MTSI. Price T Rowe Associates Inc. MD raised its position in shares of MACOM Technology Solutions by 38.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company’s stock worth $519,399,000 after acquiring an additional 1,120,510 shares in the last quarter. Norges Bank bought a new position in MACOM Technology Solutions during the 4th quarter valued at approximately $82,833,000. Vanguard Group Inc. increased its position in MACOM Technology Solutions by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company’s stock valued at $846,656,000 after buying an additional 368,979 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in MACOM Technology Solutions during the 4th quarter valued at approximately $31,260,000. Finally, Nuveen Asset Management LLC increased its position in MACOM Technology Solutions by 129.4% during the 4th quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company’s stock valued at $42,621,000 after buying an additional 185,075 shares in the last quarter. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Performance

MTSI stock opened at $142.05 on Friday. The company has a market cap of $10.56 billion, a P/E ratio of -116.43, a price-to-earnings-growth ratio of 2.74 and a beta of 1.40. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $84.00 and a 1 year high of $152.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.56 and a quick ratio of 2.86. The stock’s fifty day moving average price is $121.91 and its 200-day moving average price is $120.81.

MACOM Technology Solutions (NASDAQ:MTSI) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $235.89 million for the quarter, compared to the consensus estimate of $230.04 million. MACOM Technology Solutions had a positive return on equity of 13.32% and a negative net margin of 10.24%. MACOM Technology Solutions’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. On average, equities analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on MTSI. Bank of America raised their price objective on MACOM Technology Solutions from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus cut their target price on MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Truist Financial initiated coverage on MACOM Technology Solutions in a research note on Friday, April 11th. They set a “buy” rating and a $125.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of MACOM Technology Solutions in a research note on Friday, May 9th. Finally, Barclays increased their target price on MACOM Technology Solutions from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $133.50.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Robert Dennehy sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $140.42, for a total transaction of $702,100.00. Following the sale, the senior vice president now directly owns 15,680 shares of the company’s stock, valued at $2,201,785.60. This trade represents a 24.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen G. Daly sold 14,665 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $122.71, for a total value of $1,799,542.15. Following the sale, the chief executive officer now directly owns 36,327 shares in the company, valued at approximately $4,457,686.17. This represents a 28.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 454,227 shares of company stock worth $56,118,317. Corporate insiders own 16.30% of the company’s stock.

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.