Jennison Associates LLC Sells 74,061 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Jennison Associates LLC decreased its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 18.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 331,005 shares of the semiconductor company’s stock after selling 74,061 shares during the period. Jennison Associates LLC’s holdings in MACOM Technology Solutions were worth $30,767,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in MACOM Technology Solutions by 139.9% during the 3rd quarter. Principal Financial Group Inc. now owns 494,621 shares of the semiconductor company’s stock valued at $40,351,000 after acquiring an additional 288,408 shares during the period. Artisan Partners Limited Partnership increased its holdings in MACOM Technology Solutions by 29.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,128,382 shares of the semiconductor company’s stock worth $92,053,000 after acquiring an additional 253,396 shares in the last quarter. Vanguard Group Inc. increased its holdings in MACOM Technology Solutions by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,717,763 shares of the semiconductor company’s stock worth $466,455,000 after acquiring an additional 101,938 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in MACOM Technology Solutions by 20.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 515,461 shares of the semiconductor company’s stock worth $42,051,000 after acquiring an additional 89,191 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC purchased a new stake in MACOM Technology Solutions in the 4th quarter worth $7,915,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Wall Street Analysts Forecast Growth

MTSI has been the subject of a number of research reports. TheStreet lowered shares of MACOM Technology Solutions from a “b” rating to a “c+” rating in a report on Thursday, February 1st. Evercore ISI started coverage on shares of MACOM Technology Solutions in a research report on Tuesday, April 16th. They set an “outperform” rating and a $120.00 price target on the stock. Barclays upped their target price on shares of MACOM Technology Solutions from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Stifel Nicolaus upped their target price on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Needham & Company LLC upped their target price on shares of MACOM Technology Solutions from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.67.

Insider Transactions at MACOM Technology Solutions

In related news, SVP Donghyun Thomas Hwang sold 6,234 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $87.77, for a total transaction of $547,158.18. Following the sale, the senior vice president now owns 57,722 shares in the company, valued at $5,066,259.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO John Kober sold 12,892 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $79.95, for a total transaction of $1,030,715.40. Following the completion of the sale, the chief financial officer now directly owns 60,672 shares in the company, valued at $4,850,726.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Donghyun Thomas Hwang sold 6,234 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $87.77, for a total transaction of $547,158.18. Following the sale, the senior vice president now owns 57,722 shares of the company’s stock, valued at $5,066,259.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 811,058 shares of company stock valued at $68,674,574. Insiders own 22.75% of the company’s stock.

MACOM Technology Solutions Stock Up 1.9 %

MTSI opened at $100.72 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 7.24 and a quick ratio of 5.69. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 96.85, a price-to-earnings-growth ratio of 6.26 and a beta of 1.64. The business has a 50-day moving average of $93.68 and a two-hundred day moving average of $87.21. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $48.53 and a 12 month high of $104.90.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. MACOM Technology Solutions had a net margin of 11.93% and a return on equity of 14.85%. The firm had revenue of $157.15 million during the quarter, compared to analysts’ expectations of $151.12 million. On average, research analysts expect that MACOM Technology Solutions Holdings, Inc. will post 2.02 earnings per share for the current 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, Australia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand, and internationally.