Sumitomo Mitsui Trust Group Inc. Acquires 502 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 18.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,280 shares of the semiconductor company’s stock after purchasing an additional 502 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in MACOM Technology Solutions were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in 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 purchasing an additional 1,120,510 shares during the period. Norges Bank bought a new position in shares of MACOM Technology Solutions during the fourth quarter worth $82,833,000. Vanguard Group Inc. grew its stake in MACOM Technology Solutions by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company’s stock valued at $846,656,000 after acquiring an additional 368,979 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in MACOM Technology Solutions in the 4th quarter valued at $31,260,000. Finally, Nuveen Asset Management LLC lifted its stake in MACOM Technology Solutions by 129.4% in the 4th quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company’s stock worth $42,621,000 after purchasing an additional 185,075 shares in the last quarter. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Price Performance

NASDAQ MTSI opened at $141.20 on Friday. The company has a market cap of $10.50 billion, a price-to-earnings ratio of -115.73, a PEG ratio of 2.71 and a beta of 1.43. 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 $125.88 and its 200 day moving average price is $120.80. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $84.00 and a 1 year high of $152.50.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MTSI. Stifel Nicolaus reduced their target price on MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of MACOM Technology Solutions in a research report on Friday, May 9th. Truist Financial initiated coverage on MACOM Technology Solutions in a report on Friday, April 11th. They issued a “buy” rating and a $125.00 price target on the stock. Bank of America boosted their price objective on shares of MACOM Technology Solutions from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, June 24th. Finally, Barclays raised their price target 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MACOM Technology Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $133.50.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, CEO Stephen G. Daly sold 2,380 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $125.70, for a total value of $299,166.00. Following the completion of the transaction, the chief executive officer directly owned 24,573 shares of the company’s stock, valued at approximately $3,088,826.10. The trade was a 8.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John Kober sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $125.65, for a total value of $282,712.50. Following the completion of the sale, the chief financial officer owned 47,128 shares in the company, valued at approximately $5,921,633.20. This represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 454,227 shares of company stock worth $56,118,317 in the last three months. Company 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.