MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Sees Large Decrease in Short Interest

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 2,450,000 shares, a drop of 18.1% from the December 15th total of 2,990,000 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 553,600 shares, the days-to-cover ratio is presently 4.4 days.

Insider Activity at MACOM Technology Solutions

In related news, CEO Stephen G. Daly sold 4,742 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $118.32, for a total value of $561,073.44. Following the completion of the transaction, the chief executive officer now directly owns 65,577 shares of the company’s stock, valued at approximately $7,759,070.64. This represents a 6.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donghyun Thomas Hwang sold 1,500 shares of MACOM Technology Solutions stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $118.38, for a total transaction of $177,570.00. Following the sale, the senior vice president now directly owns 37,102 shares in the company, valued at approximately $4,392,134.76. This trade represents a 3.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,212 shares of company stock valued at $28,778,424. 22.75% of the stock is owned by corporate insiders.

Institutional Trading of MACOM Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of MACOM Technology Solutions by 74.3% during the fourth quarter. UMB Bank n.a. now owns 237 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 101 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in MACOM Technology Solutions during the 4th quarter worth approximately $36,000. Quarry LP purchased a new position in MACOM Technology Solutions in the 3rd quarter valued at approximately $57,000. Allspring Global Investments Holdings LLC purchased a new position in MACOM Technology Solutions in the 3rd quarter valued at approximately $66,000. Finally, GAMMA Investing LLC increased its position in shares of MACOM Technology Solutions by 75.4% during the third quarter. GAMMA Investing LLC now owns 821 shares of the semiconductor company’s stock worth $91,000 after acquiring an additional 353 shares during the period. Hedge funds and other institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Trading Up 1.8 %

MTSI stock traded up $2.64 during mid-day trading on Friday, hitting $145.41. 438,142 shares of the company were exchanged, compared to its average volume of 518,219. MACOM Technology Solutions has a 12-month low of $79.25 and a 12-month high of $145.95. The firm has a market capitalization of $10.53 billion, a P/E ratio of 141.18, a PEG ratio of 2.33 and a beta of 1.71. The business has a fifty day simple moving average of $134.52 and a 200-day simple moving average of $117.47. The company has a quick ratio of 6.55, a current ratio of 8.35 and a debt-to-equity ratio of 0.43.

Analyst Ratings Changes

A number of research analysts have weighed in on MTSI shares. Piper Sandler raised their target price on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Benchmark lifted their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Northland Securities boosted their price objective on MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a research note on Monday, November 11th. Finally, Barclays raised their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

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.