State of Alaska Department of Revenue Takes Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)
State of Alaska Department of Revenue acquired a new stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI - Get Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,090 shares of the semiconductor company's stock, valued at approximately $367,000.
Several other institutional investors have also modified their holdings of the company. Captrust Financial Advisors lifted its holdings in shares of MACOM Technology Solutions by 26.6% in the second quarter. Captrust Financial Advisors now owns 1,466 shares of the semiconductor company's stock valued at $68,000 after buying an additional 308 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of MACOM Technology Solutions by 1.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 19,577 shares of the semiconductor company's stock valued at $902,000 after purchasing an additional 371 shares during the last quarter. CWM LLC lifted its holdings in shares of MACOM Technology Solutions by 72.9% during the second quarter. CWM LLC now owns 1,148 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 484 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in shares of MACOM Technology Solutions by 69.9% during the second quarter. Point72 Hong Kong Ltd now owns 1,451 shares of the semiconductor company's stock valued at $67,000 after purchasing an additional 597 shares during the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of MACOM Technology Solutions during the second quarter valued at $37,000. Institutional investors and hedge funds own 74.93% of the company's stock.
Insider Activity
In other news, CEO Stephen G. Daly sold 50,000 shares of the stock in a transaction dated Friday, November 4th. The stock was 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 approximately $31,101,513. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Stephen G. Daly sold 30,000 shares of the stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $65.18, for a total transaction of $1,955,400.00. Following the transaction, the chief executive officer now owns 300,583 shares of the company's stock, valued at approximately $19,591,999.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen G. Daly sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 482,194 shares in the company, valued at approximately $31,101,513. The disclosure for this sale can be found here. In the last quarter, insiders have sold 782,400 shares of company stock valued at $52,975,674. Insiders own 28.30% of the company's stock.
Wall Street Analyst Weigh In
MTSI has been the subject of several analyst reports. Needham & Company LLC upped 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. StockNews.com downgraded MACOM Technology Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, October 20th. Benchmark downgraded MACOM Technology Solutions from a "buy" rating to a "hold" rating in a research note on Monday, November 7th. Finally, Craig Hallum downgraded MACOM Technology Solutions from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $73.00 to $65.00 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $67.56.
MACOM Technology Solutions Stock Performance
Shares of MTSI stock opened at $64.17 on Friday. 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. The stock's 50-day moving average is $66.28 and its two-hundred day moving average is $58.74. The firm has a market cap of $4.53 billion, a P/E ratio of 10.38, a PEG ratio of 2.14 and a beta of 1.97.
MACOM Technology Solutions (NASDAQ:MTSI - Get Rating) last issued its earnings results on Thursday, November 3rd. The semiconductor company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. MACOM Technology Solutions had a return on equity of 25.35% and a net margin of 65.16%. The company had revenue of $178.14 million for the quarter, compared to analyst estimates of $177.11 million. Analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.42 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, Taiwan, Japan, Singapore, Thailand, South Korea, Australia, Malaysia, and internationally.
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