MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Position Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 18.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 745,503 shares of the semiconductor company’s stock after buying an additional 116,090 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MACOM Technology Solutions were worth $82,945,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Westfield Capital Management Co. LP lifted its position in shares of MACOM Technology Solutions by 21.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock worth $134,686,000 after buying an additional 210,151 shares during the last quarter. Algert Global LLC lifted its position in MACOM Technology Solutions by 103.6% in the 3rd quarter. Algert Global LLC now owns 11,820 shares of the semiconductor company’s stock valued at $1,315,000 after purchasing an additional 6,015 shares during the last quarter. Cerity Partners LLC lifted its position in MACOM Technology Solutions by 13.0% in the 3rd quarter. Cerity Partners LLC now owns 20,848 shares of the semiconductor company’s stock valued at $2,320,000 after purchasing an additional 2,398 shares during the last quarter. Citigroup Inc. lifted its position in MACOM Technology Solutions by 46.2% in the 3rd quarter. Citigroup Inc. now owns 68,958 shares of the semiconductor company’s stock valued at $7,672,000 after purchasing an additional 21,786 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in MACOM Technology Solutions by 52.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,623 shares of the semiconductor company’s stock valued at $59,037,000 after purchasing an additional 182,058 shares during the last quarter. 76.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MTSI. Needham & Company LLC lifted their price objective on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Benchmark lifted their price objective on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Northland Securities lifted their price objective on shares of MACOM Technology Solutions from $85.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, November 11th. Finally, Piper Sandler lifted their price objective on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MACOM Technology Solutions has an average rating of “Moderate Buy” and a consensus target price of $125.91.

MACOM Technology Solutions Stock Performance

Shares of MTSI opened at $131.67 on Thursday. The firm’s 50 day moving average is $117.68 and its 200-day moving average is $109.04. The stock has a market capitalization of $9.53 billion, a P/E ratio of 130.72, a P/E/G ratio of 2.38 and a beta of 1.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.35 and a quick ratio of 6.55. MACOM Technology Solutions Holdings, Inc. has a 12-month low of $79.25 and a 12-month high of $140.27.

Insider Transactions at MACOM Technology Solutions

In other news, CEO Stephen G. Daly sold 21,012 shares of MACOM Technology Solutions stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $109.40, for a total value of $2,298,712.80. Following the transaction, the chief executive officer now directly owns 64,472 shares of the company’s stock, valued at $7,053,236.80. This trade represents a 24.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donghyun Thomas Hwang sold 4,375 shares of MACOM Technology Solutions stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $104.57, for a total transaction of $457,493.75. Following the completion of the transaction, the senior vice president now directly owns 37,148 shares in the company, valued at approximately $3,884,566.36. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,898 shares of company stock valued at $31,753,002 in the last quarter. 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.