Premier Fund Managers Ltd Sells 4,397 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Premier Fund Managers Ltd trimmed its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 92.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 345 shares of the semiconductor company’s stock after selling 4,397 shares during the quarter. Premier Fund Managers Ltd’s holdings in MACOM Technology Solutions were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in MACOM Technology Solutions in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in MACOM Technology Solutions during the 1st quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in MACOM Technology Solutions by 9,400.0% during the 1st quarter. Versant Capital Management Inc now owns 285 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 282 shares in the last quarter. Allworth Financial LP increased its holdings in MACOM Technology Solutions by 131.3% during the 1st quarter. Allworth Financial LP now owns 347 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 197 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in MACOM Technology Solutions by 182.7% during the 1st quarter. UMB Bank n.a. now owns 670 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 433 shares in the last quarter. 76.14% of the stock is owned by institutional investors.

MACOM Technology Solutions Price Performance

MACOM Technology Solutions stock opened at $140.02 on Wednesday. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $84.00 and a 12 month high of $152.50. The company has a current ratio of 3.56, a quick ratio of 2.86 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $133.28 and its 200 day simple moving average is $121.16. The company has a market cap of $10.41 billion, a price-to-earnings ratio of -114.77, a PEG ratio of 2.69 and a beta of 1.43.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. MACOM Technology Solutions had a positive return on equity of 13.32% and a negative net margin of 10.24%. The business had revenue of $235.89 million for the quarter, compared to the consensus estimate of $230.04 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. MACOM Technology Solutions’s revenue for the quarter was up 30.2% on a year-over-year basis. Sell-side analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Robert Dennehy sold 5,000 shares of MACOM Technology Solutions stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $140.42, for a total value of $702,100.00. Following the completion of the transaction, the senior vice president owned 15,680 shares in the company, valued at $2,201,785.60. This trade represents a 24.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan Ocampo sold 300,000 shares of MACOM Technology Solutions stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $123.58, for a total transaction of $37,074,000.00. Following the completion of the transaction, the director owned 4,377,764 shares of the company’s stock, valued at $541,004,075.12. The trade was a 6.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 452,756 shares of company stock valued at $56,158,217 in the last quarter. 16.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on MTSI shares. Truist Financial boosted their price objective on MACOM Technology Solutions from $136.00 to $154.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Wall Street Zen raised MACOM Technology Solutions from a “hold” rating to a “buy” rating in a report on Sunday, July 20th. Bank of America boosted their price objective on MACOM Technology Solutions from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, June 24th. Stifel Nicolaus boosted their target price on MACOM Technology Solutions from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Barclays boosted their target price on MACOM Technology Solutions from $125.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $139.90.

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.