MACOM Technology Solutions (NASDAQ:MTSI) Hits New 12-Month High – Here’s Why

Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) reached a new 52-week high on Wednesday . The stock traded as high as $122.60 and last traded at $121.74, with a volume of 27841 shares changing hands. The stock had previously closed at $116.69.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MTSI shares. Needham & Company LLC increased their price objective on MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus lifted their price objective on MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Benchmark restated a “buy” rating and set a $120.00 target price on shares of MACOM Technology Solutions in a report on Thursday, September 12th. Barclays upped their price target on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $120.00.

MACOM Technology Solutions Trading Up 4.5 %

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 stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 124.41, a PEG ratio of 4.33 and a beta of 1.69. The business has a 50 day simple moving average of $109.09 and a 200-day simple moving average of $105.94.

Insider Buying and Selling

In other news, SVP Robert Dennehy sold 6,915 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total value of $701,042.70. Following the completion of the transaction, the senior vice president now owns 19,481 shares in the company, valued at $1,974,983.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MACOM Technology Solutions news, SVP Robert Dennehy sold 6,915 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total value of $701,042.70. Following the transaction, the senior vice president now directly owns 19,481 shares of the company’s stock, valued at $1,974,983.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Ocampo sold 95,743 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $103.18, for a total value of $9,878,762.74. Following the completion of the transaction, the director now owns 6,876,284 shares in the company, valued at $709,494,983.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 669,396 shares of company stock worth $71,106,808. 22.75% of the stock is owned by insiders.

Institutional Investors Weigh In On MACOM Technology Solutions

A number of institutional investors have recently modified their holdings of the company. CWM LLC raised its holdings in shares of MACOM Technology Solutions by 7.3% in the 2nd quarter. CWM LLC now owns 1,451 shares of the semiconductor company’s stock worth $162,000 after acquiring an additional 99 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of MACOM Technology Solutions by 4.3% in the second quarter. EP Wealth Advisors LLC now owns 2,602 shares of the semiconductor company’s stock valued at $290,000 after acquiring an additional 107 shares during the period. Verdence Capital Advisors LLC raised its position in shares of MACOM Technology Solutions by 6.1% in the third quarter. Verdence Capital Advisors LLC now owns 2,371 shares of the semiconductor company’s stock worth $264,000 after buying an additional 137 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in shares of MACOM Technology Solutions by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 25,014 shares of the semiconductor company’s stock valued at $2,783,000 after acquiring an additional 199 shares during the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of MACOM Technology Solutions by 0.6% in the 2nd quarter. TD Asset Management Inc now owns 39,244 shares of the semiconductor company’s stock worth $4,375,000 after buying an additional 244 shares during the last quarter. 76.14% of the stock is owned by institutional investors.

About MACOM Technology Solutions

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.