Franklin Resources Inc. Decreases Holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Franklin Resources Inc. cut its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 100.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,303 shares of the semiconductor company's stock after selling 40,996,680 shares during the quarter. Franklin Resources Inc.'s holdings in MACOM Technology Solutions were worth $2,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in MACOM Technology Solutions by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company's stock valued at $846,656,000 after purchasing an additional 368,979 shares during the period. Geode Capital Management LLC boosted its stake in shares of MACOM Technology Solutions by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,015,781 shares of the semiconductor company's stock valued at $113,044,000 after buying an additional 46,812 shares during the period. Norges Bank acquired a new position in shares of MACOM Technology Solutions during the fourth quarter worth about $82,833,000. Jennison Associates LLC increased its stake in shares of MACOM Technology Solutions by 0.5% during the fourth quarter. Jennison Associates LLC now owns 532,463 shares of the semiconductor company's stock worth $69,172,000 after buying an additional 2,646 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in MACOM Technology Solutions by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 532,342 shares of the semiconductor company's stock worth $69,157,000 after acquiring an additional 1,719 shares during the last quarter. Hedge funds and other institutional investors own 76.14% of the company's stock.

Insider Activity

In related news, SVP Donghyun Thomas Hwang sold 7,355 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $133.00, for a total value of $978,215.00. Following the completion of the transaction, the senior vice president now directly owns 43,657 shares in the company, valued at approximately $5,806,381. This represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 300,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $124.13, for a total value of $37,239,000.00. Following the completion of the sale, the director now directly owns 4,823,636 shares in the company, valued at approximately $598,757,936.68. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 743,948 shares of company stock valued at $92,210,640 over the last 90 days. Insiders own 16.30% of the company's stock.

Analyst Ratings Changes

MTSI has been the topic of a number of analyst reports. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of MACOM Technology Solutions in a report on Monday, February 10th. Northland Capmk upgraded shares of MACOM Technology Solutions from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Stifel Nicolaus dropped their price objective on MACOM Technology Solutions from $150.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday. Truist Financial assumed coverage on MACOM Technology Solutions in a research report on Friday, April 11th. They issued a "buy" rating and a $125.00 target price for the company. Finally, Bank of America reduced their price target on MACOM Technology Solutions from $160.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $130.83.

MACOM Technology Solutions Price Performance

Shares of MACOM Technology Solutions stock traded up $0.06 during trading on Friday, hitting $97.29. 349,820 shares of the company were exchanged, compared to its average volume of 661,210. The firm has a 50 day moving average price of $106.97 and a 200 day moving average price of $121.38. The stock has a market capitalization of $7.23 billion, a price-to-earnings ratio of -67.56, a P/E/G ratio of 2.42 and a beta of 1.72. The company has a quick ratio of 2.88, a current ratio of 3.61 and a debt-to-equity ratio of 0.33. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $152.50.

MACOM Technology Solutions (NASDAQ:MTSI - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.38). MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. On average, equities analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

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.