MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC increased its position in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Free Report) by 15.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 529,817 shares of the semiconductor company's stock after buying an additional 71,123 shares during the quarter. Jennison Associates LLC owned about 0.73% of MACOM Technology Solutions worth $58,947,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in shares of MACOM Technology Solutions in the 2nd quarter valued at approximately $39,000. GAMMA Investing LLC boosted its stake in shares of MACOM Technology Solutions by 153.0% in the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company's stock valued at $52,000 after buying an additional 283 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of MACOM Technology Solutions in the third quarter valued at approximately $66,000. FSC Wealth Advisors LLC purchased a new stake in shares of MACOM Technology Solutions in the second quarter valued at approximately $78,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of 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 buying an additional 692 shares in the last quarter. Hedge funds and other institutional investors own 76.14% of the company's stock.

MACOM Technology Solutions Trading Up 3.0 %

NASDAQ MTSI traded up $3.77 during trading hours on Thursday, hitting $131.33. 589,106 shares of the company's stock were exchanged, compared to its average volume of 573,199. The business's 50 day moving average is $115.67 and its 200-day moving average is $108.27. MACOM Technology Solutions Holdings, Inc. has a 12-month low of $79.25 and a 12-month high of $140.27. The firm has a market capitalization of $9.51 billion, a P/E ratio of 127.51, a price-to-earnings-growth ratio of 2.20 and a beta of 1.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35.

Insiders Place Their Bets

In other news, SVP Donghyun Thomas Hwang sold 4,375 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $104.57, for a total value of $457,493.75. Following the completion of the sale, the senior vice president now owns 37,148 shares in the company, valued at approximately $3,884,566.36. This trade represents a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Dennehy sold 6,915 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total value of $701,042.70. Following the completion of the sale, the senior vice president now owns 19,481 shares of the company's stock, valued at approximately $1,974,983.78. This trade represents a 26.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 324,278 shares of company stock worth $37,588,031 over the last three months. 22.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MTSI shares. Piper Sandler lifted their price target on MACOM Technology Solutions from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Benchmark lifted 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. Barclays lifted their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Needham & Company LLC upped their price objective on MACOM Technology Solutions from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Northland Securities upped their price objective on MACOM Technology Solutions from $85.00 to $105.00 and gave the company a "market perform" rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, MACOM Technology Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $125.91.

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.