MACOM Technology Solutions (NASDAQ:MTSI) Shares Down 15.3% – What’s Next?

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)’s share price was down 15.3% during trading on Monday . The stock traded as low as $123.93 and last traded at $122.07. Approximately 349,609 shares traded hands during trading, a decline of 41% from the average daily volume of 590,952 shares. The stock had previously closed at $144.17.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MTSI. Northland Securities lifted their price objective on shares of MACOM Technology Solutions from $85.00 to $105.00 and gave the company a “market perform” rating in a research report on Monday, November 11th. Piper Sandler lifted their target price on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Barclays increased their price target on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Benchmark lifted their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.00.

MACOM Technology Solutions Trading Down 15.3 %

The business has a fifty day moving average of $136.26 and a two-hundred day moving average of $118.60. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 119.22, a PEG ratio of 2.58 and a beta of 1.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35.

Insider Activity

In related news, Director Susan Ocampo sold 105,782 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $123.67, for a total transaction of $13,082,059.94. Following the sale, the director now owns 5,914,008 shares of the company’s stock, valued at $731,385,369.36. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Kober sold 2,671 shares of MACOM Technology Solutions stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $117.47, for a total value of $313,762.37. Following the sale, the chief financial officer now owns 47,221 shares of the company’s stock, valued at approximately $5,547,050.87. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 222,470 shares of company stock worth $28,217,351 over the last 90 days. 16.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MACOM Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Westfield Capital Management Co. LP boosted its stake in MACOM Technology Solutions by 21.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock worth $134,686,000 after buying an additional 210,151 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of MACOM Technology Solutions by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,015,781 shares of the semiconductor company’s stock worth $113,044,000 after acquiring an additional 46,812 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of MACOM Technology Solutions by 18.4% in the third quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after acquiring an additional 116,090 shares during the last quarter. Jennison Associates LLC grew its holdings in MACOM Technology Solutions by 0.5% in the fourth quarter. Jennison Associates LLC now owns 532,463 shares of the semiconductor company’s stock valued at $69,172,000 after purchasing an additional 2,646 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in MACOM Technology Solutions by 52.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 530,623 shares of the semiconductor company’s stock worth $59,037,000 after purchasing an additional 182,058 shares during the last quarter. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

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.