MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 35.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,539 shares of the semiconductor company’s stock after selling 74,003 shares during the quarter. Principal Financial Group Inc. owned approximately 0.18% of MACOM Technology Solutions worth $14,858,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC grew its holdings in MACOM Technology Solutions by 958.1% during the 2nd quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock valued at $149,214,000 after buying an additional 1,212,094 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of MACOM Technology Solutions by 280.5% in the second quarter. Hood River Capital Management LLC now owns 704,834 shares of the semiconductor company’s stock valued at $78,568,000 after acquiring an additional 519,603 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of MACOM Technology Solutions by 21.0% during the third quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock valued at $134,686,000 after acquiring an additional 210,151 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in MACOM Technology Solutions by 52.2% during the 3rd 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 in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in MACOM Technology Solutions by 18.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock valued at $82,945,000 after purchasing an additional 116,090 shares during the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $118.38, for a total value of $177,570.00. Following the completion of the transaction, the senior vice president now owns 37,102 shares in the company, valued at $4,392,134.76. This represents a 3.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen G. Daly sold 4,742 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $118.32, for a total transaction of $561,073.44. Following the completion of the transaction, the chief executive officer now owns 65,577 shares of the company’s stock, valued at $7,759,070.64. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,962 shares of company stock valued at $28,485,722 over the last ninety days. Corporate insiders own 22.75% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MACOM Technology Solutions Stock Performance

NASDAQ MTSI opened at $133.54 on Friday. The business’s 50-day simple moving average is $129.35 and its 200-day simple moving average is $114.23. The firm has a market capitalization of $9.67 billion, a P/E ratio of 129.65, a P/E/G ratio of 2.43 and a beta of 1.71. MACOM Technology Solutions Holdings, Inc. has a 1-year low of $79.25 and a 1-year high of $143.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.35 and a quick ratio of 6.55.

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.