Covea Finance grew its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,000 shares of the semiconductor company's stock after purchasing an additional 2,000 shares during the quarter. Covea Finance's holdings in MACOM Technology Solutions were worth $3,508,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. ORG Wealth Partners LLC purchased a new position in MACOM Technology Solutions in the fourth quarter valued at approximately $36,000. Quarry LP purchased a new position in shares of MACOM Technology Solutions in the 3rd quarter valued at $57,000. Allspring Global Investments Holdings LLC purchased a new position in shares of MACOM Technology Solutions in the 3rd quarter valued at $66,000. GAMMA Investing LLC raised its stake in MACOM Technology Solutions by 75.4% during the 3rd quarter. GAMMA Investing LLC now owns 821 shares of the semiconductor company's stock worth $91,000 after acquiring an additional 353 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in MACOM Technology Solutions by 303.5% in the third quarter. Farther Finance Advisors LLC now owns 920 shares of the semiconductor company's stock valued at $102,000 after acquiring an additional 692 shares during the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.
MACOM Technology Solutions Stock Performance
Shares of NASDAQ MTSI traded up $4.68 during mid-day trading on Wednesday, hitting $140.89. 928,732 shares of the company were exchanged, compared to its average volume of 649,159. The stock has a 50 day simple moving average of $133.92 and a 200-day simple moving average of $116.84. MACOM Technology Solutions Holdings, Inc. has a 1-year low of $79.25 and a 1-year high of $143.90. The company has a quick ratio of 6.55, a current ratio of 8.35 and a debt-to-equity ratio of 0.43. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 136.79, a price-to-earnings-growth ratio of 2.43 and a beta of 1.71.
Insider Transactions at MACOM Technology Solutions
In related news, CEO Stephen G. Daly sold 4,742 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $118.32, for a total transaction of $561,073.44. Following the transaction, the chief executive officer now owns 65,577 shares of the company's stock, valued at $7,759,070.64. This represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO John Kober sold 2,250 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $130.09, for a total value of $292,702.50. Following the completion of the sale, the chief financial officer now directly owns 49,239 shares of the company's stock, valued at approximately $6,405,501.51. This trade represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,212 shares of company stock worth $28,778,424. Company insiders own 22.75% of the company's stock.
Wall Street Analysts Forecast Growth
MTSI has been the topic of several research reports. Benchmark raised their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Northland Securities raised their price target on 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. Barclays boosted their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Piper Sandler raised 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 report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.00.
View Our Latest Stock Analysis on MTSI
MACOM Technology Solutions Profile
(
Free Report)
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.
Further Reading
Before you consider MACOM Technology Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MACOM Technology Solutions wasn't on the list.
While MACOM Technology Solutions currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
