Robert Dennehy Sells 6,915 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Stock

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) SVP Robert Dennehy sold 6,915 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total transaction of $701,042.70. Following the completion of the transaction, the senior vice president now directly owns 19,481 shares in the company, valued at approximately $1,974,983.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, August 21st, Robert Dennehy sold 6,683 shares of MACOM Technology Solutions stock. The shares were sold at an average price of $106.78, for a total value of $713,610.74.

MACOM Technology Solutions Stock Up 5.6 %

NASDAQ MTSI traded up $5.56 during trading hours on Thursday, reaching $105.57. 432,273 shares of the company traded hands, compared to its average volume of 580,620. The stock has a market capitalization of $7.61 billion, a PE ratio of 121.23, a PEG ratio of 5.18 and a beta of 1.70. The company has a current ratio of 8.18, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $68.58 and a 12 month high of $118.76. The company has a 50 day moving average of $103.13 and a two-hundred day moving average of $101.95.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The business had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $190.42 million. MACOM Technology Solutions had a net margin of 10.59% and a return on equity of 12.59%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. As a group, equities analysts expect that MACOM Technology Solutions Holdings, Inc. will post 1.89 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its stake in MACOM Technology Solutions by 958.1% during the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock worth $149,214,000 after acquiring an additional 1,212,094 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in MACOM Technology Solutions by 1,533.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,234,684 shares of the semiconductor company’s stock valued at $114,765,000 after acquiring an additional 1,159,076 shares during the period. Hood River Capital Management LLC grew its holdings in shares of MACOM Technology Solutions by 280.5% during 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 purchasing an additional 519,603 shares during the last quarter. Norges Bank acquired a new stake in shares of MACOM Technology Solutions during the 4th quarter worth approximately $44,250,000. Finally, Vanguard Group Inc. lifted its holdings in shares of MACOM Technology Solutions by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock worth $592,395,000 after purchasing an additional 465,759 shares during the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on MACOM Technology Solutions from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and set a $120.00 price objective on shares of MACOM Technology Solutions in a research note on Thursday, September 12th. Needham & Company LLC upped their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.00.

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.