MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) SVP Robert Dennehy Sells 10,000 Shares

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) SVP Robert Dennehy sold 10,000 shares of the business’s stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $64.13, for a total transaction of $641,300.00. Following the completion of the transaction, the senior vice president now directly owns 45,259 shares of the company’s stock, valued at approximately $2,902,459.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Robert Dennehy also recently made the following trade(s):

  • On Monday, September 20th, Robert Dennehy sold 10,000 shares of MACOM Technology Solutions stock. The stock was sold at an average price of $61.42, for a total value of $614,200.00.
  • On Wednesday, September 15th, Robert Dennehy sold 10,000 shares of MACOM Technology Solutions stock. The stock was sold at an average price of $61.82, for a total value of $618,200.00.
  • On Monday, September 13th, Robert Dennehy sold 10,000 shares of MACOM Technology Solutions stock. The stock was sold at an average price of $64.83, for a total value of $648,300.00.
  • On Friday, September 10th, Robert Dennehy sold 6,679 shares of MACOM Technology Solutions stock. The shares were sold at an average price of $65.00, for a total value of $434,135.00.

Shares of NASDAQ:MTSI traded down $1.67 during trading on Monday, hitting $61.67. 242,884 shares of the stock were exchanged, compared to its average volume of 472,911. MACOM Technology Solutions Holdings, Inc. has a 1-year low of $31.55 and a 1-year high of $69.29. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 120.92, a price-to-earnings-growth ratio of 1.02 and a beta of 2.20. The company’s fifty day simple moving average is $60.97 and its 200-day simple moving average is $59.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.51 and a current ratio of 5.47.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings data on Thursday, July 29th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.17. MACOM Technology Solutions had a return on equity of 25.55% and a net margin of 6.40%. The company had revenue of $152.62 million for the quarter, compared to analyst estimates of $151.85 million. On average, research analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 1.58 earnings per share for the current fiscal year.

MTSI has been the topic of several analyst reports. Zacks Investment Research raised MACOM Technology Solutions from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Thursday, August 5th. Cowen increased their price target on MACOM Technology Solutions from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th. Needham & Company LLC raised their target price on MACOM Technology Solutions from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Finally, Westpark Capital initiated coverage on MACOM Technology Solutions in a research note on Tuesday, May 25th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, MACOM Technology Solutions currently has an average rating of “Buy” and a consensus price target of $63.75.

Several institutional investors have recently bought and sold shares of MTSI. Alliancebernstein L.P. lifted its position in shares of MACOM Technology Solutions by 45.6% during the 2nd quarter. Alliancebernstein L.P. now owns 3,099,534 shares of the semiconductor company’s stock worth $198,618,000 after buying an additional 971,294 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of MACOM Technology Solutions by 172.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,020,169 shares of the semiconductor company’s stock worth $59,190,000 after buying an additional 645,328 shares during the period. BlackRock Inc. lifted its position in shares of MACOM Technology Solutions by 17.0% during the 1st quarter. BlackRock Inc. now owns 4,374,889 shares of the semiconductor company’s stock worth $253,832,000 after buying an additional 636,023 shares during the period. FMR LLC lifted its position in shares of MACOM Technology Solutions by 40.1% during the 2nd quarter. FMR LLC now owns 1,857,892 shares of the semiconductor company’s stock worth $119,055,000 after buying an additional 531,797 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of MACOM Technology Solutions by 102.5% during the 1st quarter. Jennison Associates LLC now owns 738,064 shares of the semiconductor company’s stock worth $42,822,000 after buying an additional 373,517 shares during the period. Institutional investors and hedge funds own 70.93% of the company’s stock.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc engages in the design, development, manufacture and market of semiconductors and modules. Its products include integrated circuits (IC), multi-chip modules (MCM), power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and complete subsystems.

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