Glenmede Trust Co. NA reduced its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI – Get Rating ) by 31.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,052 shares of the semiconductor company’s stock after selling 5,520 shares during the period. The holdings of Glenmede Trust Co. NA’s holdings in MACOM Technology Solutions were worth $624,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in MTSI. Price T Rowe Associates Inc. MD boosted its holdings in MACOM Technology Solutions by 9,920.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,961,661 shares of the semiconductor company’s stock valued at $101,596,000 after acquiring an additional 1,942,084 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of MACOM Technology Solutions during the third quarter worth about $23,848,000. Vanguard Group Inc. boosted its holdings in shares of MACOM Technology Solutions by 8.5% in the third quarter. Vanguard Group Inc. now owns 5,204,555 shares of the semiconductor company’s stock valued at $269,545,000 after purchasing an additional 408,017 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MACOM Technology Solutions by 136.0% in the third quarter. Bank of New York Mellon Corp now owns 507,452 shares of the semiconductor company’s stock valued at $26,281,000 after purchasing an additional 292,386 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of MACOM Technology Solutions by 7.1% in the second quarter. FMR LLC now owns 3,762,701 shares of the semiconductor company’s stock valued at $173,460,000 after buying an additional 249,882 shares during the last quarter. 74.93% of the shares are currently owned by institutional investors.
Insiders place their bets
In other MACOM Technology Solutions news, CEO Stephen G. Daly sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $64.50, for a total transaction of $3,225,000.00. Following the transaction, the chief executive officer now owns 482,194 shares of the company’s stock, valued at $31,101,513. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Donghyun Thomas Hwang sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $63.22, for a total value of $252,880.00. Following the transaction, the senior vice president now owns 96,230 shares of the company’s stock, valued at $6,083,660.60. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. Also, CEO Steven G. Daley sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $64.50, for a total value of $3,225,000.00. Following the completion of the transaction, the CEO now directly owns 482,194 shares in the company, valued at approximately $31,101,513. Disclosure of this sale can be found here. Insiders have sold a total of 777,530 shares of company stock valued at $52,707,928 over the last 90 days. 24.00% of shares are currently owned by insiders.
MACOM Technology Solutions Stock Performance
NASDAQ MTSI traded down $0.03 during trading on Wednesday, reaching $66.99. 103,924 shares of the company’s stock were exchanged, with an average volume of 393,444. The business has a 50-day moving average price of $65.55 and a 200-day moving average price of $60.47. The stock has a market cap of $4.74 billion, a P/E ratio of 10.84, a PEG ratio of 2.24 and a beta of 1.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 8.36, and a quick ratio of 7.18. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $42.85 and a fifty-two week high of $72.64.
MACOM Technology Solutions (NASDAQ:MTSI – Get Rating ) last announced its quarterly earnings results on Thursday, November 3rd. The semiconductor company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $178.14 million for the quarter, compared to the consensus estimate of $177.11 million. MACOM Technology Solutions had a return on equity of 25.35% and a net margin of 65.16%. Sell-side analysts forecast that MACOM Technology Solutions Holdings, Inc. will report 2.42 earnings per share for the current fiscal year.
The Wall Street analyst weighs in
A number of brokerages have recently commented on MTSI. Needham & Company LLC boosted their target price on MACOM Technology Solutions from $62.00 to $68.00 and gave the company a “buy” rating in a report on Friday, November 4th. Benchmark lowered MACOM Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, November 7th. StockNews.com lowered MACOM Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, October 20th. Finally, Craig Hallum downgraded MACOM Technology Solutions from a “buy” rating to a “hold” rating and dropped their target price for the company from $73.00 to $65.00 in a report on Wednesday, January 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Moderate Buy” and an average target price of $67.56, based on data from MarketBeat.com.
About MACOM Technology Solutions
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MACOM Technology Solutions Holdings, Inc is engaged in the design, development, manufacturing and marketing of semiconductors and modules. The company is involved in providing products to the telecommunications (telecom), industrial and defense (I&D), and data center industries. The company was founded on March 25, 2009 and is headquartered in Lowell, Massachusetts.
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