Eastern Bank Invests $136,000 in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Eastern Bank acquired a new position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,225 shares of the semiconductor company’s stock, valued at approximately $136,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in shares of MACOM Technology Solutions in the 2nd quarter valued at about $39,000. GAMMA Investing LLC boosted its position in MACOM Technology Solutions by 153.0% during the 2nd quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 283 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of MACOM Technology Solutions in the 3rd quarter valued at $66,000. Fidelis Capital Partners LLC bought a new position in shares of MACOM Technology Solutions in the 1st quarter worth $77,000. Finally, FSC Wealth Advisors LLC bought a new stake in MACOM Technology Solutions during the second quarter valued at about $78,000. 76.14% of the stock is currently owned by institutional investors.

Insider Transactions at MACOM Technology Solutions

In other news, SVP Robert Dennehy sold 6,915 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total transaction of $701,042.70. Following the transaction, the senior vice president now directly owns 19,481 shares in the company, valued at $1,974,983.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MACOM Technology Solutions news, Director Susan Ocampo sold 305,395 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $106.48, for a total value of $32,518,459.60. Following the transaction, the director now directly owns 6,550,889 shares in the company, valued at $697,538,660.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Robert Dennehy sold 6,915 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total transaction of $701,042.70. Following the sale, the senior vice president now owns 19,481 shares of the company’s stock, valued at $1,974,983.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 654,861 shares of company stock valued at $69,430,533 over the last 90 days. 22.75% of the stock is currently owned by corporate insiders.

MACOM Technology Solutions Price Performance

Shares of NASDAQ MTSI opened at $116.98 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 8.18. The firm has a market cap of $8.44 billion, a PE ratio of 132.93, a PEG ratio of 4.35 and a beta of 1.70. MACOM Technology Solutions Holdings, Inc. has a one year low of $68.58 and a one year high of $118.76. The firm has a fifty day moving average of $107.35 and a 200 day moving average of $104.85.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $190.50 million for the quarter, compared to analyst estimates of $190.42 million. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, research analysts predict that MACOM Technology Solutions Holdings, Inc. will post 1.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MTSI. Needham & Company LLC boosted their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays increased their target price on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $120.00 price objective on shares of MACOM Technology Solutions in a report on Thursday, September 12th. Finally, Stifel Nicolaus upped their price target on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

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.