Envestnet Asset Management Inc. Grows Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Envestnet Asset Management Inc. increased its position in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 11.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 98,208 shares of the semiconductor company’s stock after buying an additional 10,137 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of MACOM Technology Solutions worth $9,858,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MTSI. Opal Wealth Advisors LLC purchased a new stake in shares of MACOM Technology Solutions during the first quarter worth approximately $25,000. Elequin Capital LP purchased a new position in MACOM Technology Solutions in the fourth quarter valued at approximately $26,000. Versant Capital Management Inc increased its stake in MACOM Technology Solutions by 9,400.0% in the first quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 282 shares during the last quarter. UMB Bank n.a. increased its stake in MACOM Technology Solutions by 182.7% in the first quarter. UMB Bank n.a. now owns 670 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 433 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in MACOM Technology Solutions by 24.4% in the first quarter. GAMMA Investing LLC now owns 1,455 shares of the semiconductor company’s stock valued at $146,000 after purchasing an additional 285 shares during the last quarter. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 4,944 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $118.59, for a total value of $586,308.96. Following the completion of the sale, the senior vice president owned 30,659 shares of the company’s stock, valued at approximately $3,635,850.81. This trade represents a 13.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen G. Daly sold 2,380 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $125.70, for a total value of $299,166.00. Following the completion of the sale, the chief executive officer directly owned 24,573 shares of the company’s stock, valued at approximately $3,088,826.10. This trade represents a 8.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 454,227 shares of company stock valued at $56,118,317. 16.30% of the stock is currently owned by company insiders.

MACOM Technology Solutions Price Performance

MTSI stock opened at $142.11 on Monday. The company has a market capitalization of $10.56 billion, a P/E ratio of -116.48, a PEG ratio of 2.74 and a beta of 1.43. MACOM Technology Solutions Holdings, Inc. has a twelve month low of $84.00 and a twelve month high of $152.50. The business has a 50 day simple moving average of $131.46 and a 200-day simple moving average of $121.07. The company has a current ratio of 3.56, a quick ratio of 2.86 and a debt-to-equity ratio of 0.31.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $235.89 million during the quarter, compared to the consensus estimate of $230.04 million. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. As a group, equities analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

MTSI has been the topic of several recent analyst reports. Barclays increased their price target 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. Truist Financial increased their price target on shares of MACOM Technology Solutions from $136.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of MACOM Technology Solutions in a research note on Friday, May 9th. BNP Paribas upgraded shares of MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price target on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen upgraded shares of MACOM Technology Solutions from a “hold” rating to a “buy” rating in a research note on Sunday. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.90.

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.