Algert Global LLC Increases Stock Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Algert Global LLC raised its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 103.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,820 shares of the semiconductor company's stock after purchasing an additional 6,015 shares during the quarter. Algert Global LLC's holdings in MACOM Technology Solutions were worth $1,315,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in MACOM Technology Solutions by 13.0% in the third 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 period. Citigroup Inc. raised its position in MACOM Technology Solutions by 46.2% in 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. Charles Schwab Investment Management Inc. increased its position in shares of MACOM Technology Solutions by 52.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 530,623 shares of the semiconductor company's stock worth $59,037,000 after acquiring an additional 182,058 shares during the period. Intech Investment Management LLC purchased a new stake in shares of MACOM Technology Solutions during the third quarter worth $279,000. Finally, Jennison Associates LLC increased its position in shares of MACOM Technology Solutions by 15.5% during the third quarter. Jennison Associates LLC now owns 529,817 shares of the semiconductor company's stock worth $58,947,000 after acquiring an additional 71,123 shares during the period. Hedge funds and other institutional investors own 76.14% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays upped their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Northland Securities boosted 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 research note on Monday, November 11th. Benchmark boosted their target price on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Piper Sandler boosted their target price on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Finally, 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 research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, MACOM Technology Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.91.

MACOM Technology Solutions Stock Performance

NASDAQ:MTSI traded up $1.15 during mid-day trading on Friday, reaching $132.82. The stock had a trading volume of 197,761 shares, compared to its average volume of 572,122. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 128.95, a PEG ratio of 2.31 and a beta of 1.69. MACOM Technology Solutions Holdings, Inc. has a twelve month low of $79.25 and a twelve month high of $140.27. The business has a 50 day simple moving average of $118.84 and a 200 day simple moving average of $109.36.

Insider Activity at MACOM Technology Solutions

In other news, SVP Donghyun Thomas Hwang sold 1,500 shares of MACOM Technology Solutions stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $118.38, for a total transaction of $177,570.00. Following the completion of the sale, the senior vice president now directly owns 37,102 shares in the company, valued at approximately $4,392,134.76. This trade represents a 3.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Ocampo sold 12,438 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $136.73, for a total transaction of $1,700,647.74. Following the completion of the sale, the director now directly owns 6,500,755 shares of the company's stock, valued at $888,848,231.15. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 234,886 shares of company stock worth $29,454,289 over the last 90 days. Company insiders own 22.75% of the company's stock.

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.