MACOM Technology Solutions (NASDAQ:MTSI) Hits New 12-Month High – Still a Buy?

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) reached a new 52-week high on Wednesday . The stock traded as high as $149.73 and last traded at $148.78, with a volume of 527776 shares. The stock had previously closed at $145.41.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTSI. Piper Sandler lifted their price target on MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Benchmark boosted their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Northland Securities increased 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. Finally, Barclays lifted their price target on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, MACOM Technology Solutions presently has an average rating of “Moderate Buy” and an average target price of $128.00.

MACOM Technology Solutions Price Performance

The stock has a market cap of $11.06 billion, a P/E ratio of 144.45, a P/E/G ratio of 2.55 and a beta of 1.71. The company’s 50 day moving average price is $135.08 and its 200-day moving average price is $117.99. The company has a quick ratio of 6.55, a current ratio of 8.35 and a debt-to-equity ratio of 0.43.

Insiders Place Their Bets

In related news, CEO Stephen G. Daly sold 7,122 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $112.53, for a total value of $801,438.66. Following the sale, the chief executive officer now directly owns 55,826 shares in the company, valued at $6,282,099.78. This represents a 11.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John Kober sold 2,671 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $117.47, for a total transaction of $313,762.37. Following the transaction, the chief financial officer now owns 47,221 shares of the company’s stock, valued at approximately $5,547,050.87. The trade was a 5.35 % 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. 16.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Several institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. raised its holdings in shares of MACOM Technology Solutions by 46.2% during the third 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 period. Westfield Capital Management Co. LP increased its holdings in shares of MACOM Technology Solutions by 21.0% during the third quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock valued at $134,686,000 after acquiring an additional 210,151 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in MACOM Technology Solutions by 18.4% during the third quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after buying an additional 116,090 shares during the last quarter. Algert Global LLC raised its holdings in shares of MACOM Technology Solutions by 103.6% in the 3rd quarter. Algert Global LLC now owns 11,820 shares of the semiconductor company’s stock worth $1,315,000 after acquiring an additional 6,015 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of MACOM Technology Solutions by 958.1% in the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock worth $149,214,000 after purchasing an additional 1,212,094 shares during the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

MACOM Technology Solutions Company 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.