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

Envestnet Asset Management Inc. lessened its position in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,071 shares of the semiconductor company’s stock after selling 3,030 shares during the period. Envestnet Asset Management Inc.’s holdings in MACOM Technology Solutions were worth $11,441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Louisiana State Employees Retirement System grew its position in shares of MACOM Technology Solutions by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the semiconductor company’s stock valued at $2,092,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. grew its stake in shares of MACOM Technology Solutions by 74.3% in 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 during the last quarter. CIBC Asset Management Inc lifted its stake in MACOM Technology Solutions by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 2,250 shares of the semiconductor company’s stock worth $292,000 after acquiring an additional 112 shares during the period. Arizona State Retirement System increased its position in shares of MACOM Technology Solutions by 0.7% during the fourth quarter. Arizona State Retirement System now owns 16,732 shares of the semiconductor company’s stock valued at $2,174,000 after buying an additional 122 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of MACOM Technology Solutions by 4.7% during the fourth quarter. Corient Private Wealth LLC now owns 3,033 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 136 shares in the last quarter. Institutional investors own 76.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Northland Securities raised shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and raised their target price for the company from $105.00 to $140.00 in a research note on Monday, February 10th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a report on Monday, February 10th. Northland Capmk raised shares of MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Truist Financial initiated coverage on shares of MACOM Technology Solutions in a report on Friday, April 11th. They set a “buy” rating and a $125.00 price target on the stock. Finally, BNP Paribas raised MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MACOM Technology Solutions has an average rating of “Moderate Buy” and an average price target of $130.83.

Insider Buying and Selling

In other news, SVP Donghyun Thomas Hwang sold 7,355 shares of MACOM Technology Solutions stock in a transaction on Monday, January 27th. The shares were sold at an average price of $133.00, for a total transaction of $978,215.00. Following the completion of the sale, the senior vice president now directly owns 43,657 shares in the company, valued at approximately $5,806,381. The trade was a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan Ocampo sold 45,773 shares of MACOM Technology Solutions stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $125.35, for a total value of $5,737,645.55. Following the sale, the director now directly owns 5,509,746 shares of the company’s stock, valued at $690,646,661.10. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 743,948 shares of company stock valued at $92,210,640 over the last 90 days. Corporate insiders own 16.30% of the company’s stock.

MACOM Technology Solutions Stock Performance

Shares of NASDAQ:MTSI opened at $97.29 on Friday. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $84.00 and a 12 month high of $152.50. The firm’s 50-day moving average is $107.47 and its 200 day moving average is $121.45. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -67.56, a PEG ratio of 2.42 and a beta of 1.72. The company has a current ratio of 3.61, a quick ratio of 2.88 and a debt-to-equity ratio of 0.33.

MACOM Technology Solutions (NASDAQ:MTSI) last released its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.38). MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. Research analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current year.

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.