MACOM Technology Solutions (NASDAQ:MTSI) Shares Gap Up - What's Next?

Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $121.92, but opened at $140.00. MACOM Technology Solutions shares last traded at $133.65, with a volume of 156,222 shares trading hands.

Wall Street Analysts Forecast Growth

MTSI has been the topic of a number of analyst reports. 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. JPMorgan Chase & Co. lifted their price target on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Needham & Company LLC lifted their price target on MACOM Technology Solutions from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price target on MACOM Technology Solutions from $115.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Finally, Benchmark restated a "buy" rating and issued a $120.00 price target on shares of MACOM Technology Solutions in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.00.

MACOM Technology Solutions Stock Performance

The stock has a 50-day simple moving average of $110.02 and a 200 day simple moving average of $106.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 6.33. The company has a market capitalization of $10.04 billion, a PE ratio of 141.98, a P/E/G ratio of 4.33 and a beta of 1.69.

Insiders Place Their Bets

In other news, CEO Stephen G. Daly sold 7,122 shares of the business's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $112.53, for a total value of $801,438.66. Following the completion of the transaction, the chief executive officer now directly owns 55,826 shares of the company's stock, valued at $6,282,099.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Stephen G. Daly sold 4,742 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $118.32, for a total value of $561,073.44. Following the completion of the transaction, the chief executive officer now directly owns 65,577 shares of the company's stock, valued at $7,759,070.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen G. Daly sold 7,122 shares of the business's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $112.53, for a total value of $801,438.66. Following the completion of the transaction, the chief executive officer now directly owns 55,826 shares of the company's stock, valued at approximately $6,282,099.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 669,396 shares of company stock worth $71,106,808. 22.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MACOM Technology Solutions

Institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp increased its stake in MACOM Technology Solutions by 2.5% in the first quarter. Texas Permanent School Fund Corp now owns 47,935 shares of the semiconductor company's stock valued at $4,585,000 after purchasing an additional 1,185 shares during the last quarter. Duality Advisers LP increased its stake in MACOM Technology Solutions by 13.4% in the first quarter. Duality Advisers LP now owns 3,093 shares of the semiconductor company's stock valued at $296,000 after purchasing an additional 366 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in MACOM Technology Solutions by 2.9% in the first quarter. TimesSquare Capital Management LLC now owns 303,032 shares of the semiconductor company's stock valued at $28,982,000 after purchasing an additional 8,567 shares during the last quarter. Swiss National Bank increased its stake in MACOM Technology Solutions by 1.8% in the first quarter. Swiss National Bank now owns 113,850 shares of the semiconductor company's stock valued at $10,889,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Sei Investments Co. increased its stake in MACOM Technology Solutions by 14.4% in the first quarter. Sei Investments Co. now owns 297,615 shares of the semiconductor company's stock valued at $28,464,000 after purchasing an additional 37,407 shares during the last quarter. 76.14% of the stock is owned by institutional investors and hedge funds.

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.