Avalon Global Asset Management LLC Decreases Stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Avalon Global Asset Management LLC lessened its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,700 shares of the semiconductor company’s stock after selling 5,000 shares during the period. MACOM Technology Solutions makes up about 0.8% of Avalon Global Asset Management LLC’s portfolio, making the stock its 28th biggest position. Avalon Global Asset Management LLC owned approximately 0.07% of MACOM Technology Solutions worth $5,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Point72 Hong Kong Ltd lifted its stake in shares of MACOM Technology Solutions by 10.7% during the third quarter. Point72 Hong Kong Ltd now owns 164,097 shares of the semiconductor company’s stock worth $18,257,000 after buying an additional 15,805 shares during the period. MetLife Investment Management LLC lifted its position in MACOM Technology Solutions by 3.3% during the 3rd quarter. MetLife Investment Management LLC now owns 29,815 shares of the semiconductor company’s stock worth $3,317,000 after acquiring an additional 940 shares during the period. Townsquare Capital LLC grew its stake in MACOM Technology Solutions by 7.9% during the 3rd quarter. Townsquare Capital LLC now owns 3,375 shares of the semiconductor company’s stock valued at $376,000 after purchasing an additional 248 shares during the last quarter. Quantbot Technologies LP purchased a new stake in MACOM Technology Solutions during the 3rd quarter valued at about $1,891,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of MACOM Technology Solutions by 18.4% in the third quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock valued at $82,945,000 after purchasing an additional 116,090 shares during the period. Institutional investors and hedge funds own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Up 0.9 %

MTSI stock opened at $132.82 on Monday. MACOM Technology Solutions Holdings, Inc. has a one year low of $79.25 and a one year high of $140.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35. The firm’s fifty day moving average is $119.42 and its 200 day moving average is $109.61. The firm has a market cap of $9.62 billion, a PE ratio of 128.95, a P/E/G ratio of 2.33 and a beta of 1.69.

Wall Street Analyst Weigh In

A number of research firms recently commented on MTSI. Piper Sandler lifted their target price on MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Barclays lifted their price objective on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Benchmark upped their price objective on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Northland Securities raised their target price on shares of MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MACOM Technology Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.91.

Insider Activity

In other news, CFO John Kober sold 19,470 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $126.88, for a total value of $2,470,353.60. Following the completion of the sale, the chief financial officer now directly owns 51,489 shares in the company, valued at $6,532,924.32. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan Ocampo sold 12,438 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $136.73, for a total value of $1,700,647.74. Following the transaction, the director now owns 6,500,755 shares in the company, valued at $888,848,231.15. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 234,886 shares of company stock worth $29,454,289 in the last ninety days. Company insiders own 22.75% of the company’s stock.

About MACOM Technology Solutions

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.