Sumitomo Mitsui Trust Group Inc. Acquires New Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Sumitomo Mitsui Trust Group Inc. acquired a new stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,492 shares of the semiconductor company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTSI. Millennium Management LLC increased its holdings in MACOM Technology Solutions by 958.1% in the second 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 increased its holdings in 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 buying an additional 519,603 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of MACOM Technology Solutions by 8.1% during the first quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock valued at $592,395,000 after purchasing an additional 465,759 shares during the last quarter. F M Investments LLC bought a new position in shares of MACOM Technology Solutions during the second quarter valued at approximately $18,817,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of MACOM Technology Solutions by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock valued at $132,821,000 after purchasing an additional 154,066 shares during the last quarter. 76.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MTSI has been the subject of several recent research reports. Benchmark upped their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 8th. Northland Securities upped their target price on MACOM Technology Solutions from $85.00 to $105.00 and gave the company a “market perform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays upped their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Piper Sandler upped their target price on MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.91.

MACOM Technology Solutions Stock Performance

Shares of NASDAQ MTSI opened at $127.56 on Thursday. The company has a market cap of $9.24 billion, a PE ratio of 123.85, a P/E/G ratio of 2.16 and a beta of 1.69. The company has a current ratio of 8.35, a quick ratio of 6.55 and a debt-to-equity ratio of 0.43. MACOM Technology Solutions Holdings, Inc. has a 12-month low of $79.25 and a 12-month high of $140.27. The stock has a 50 day simple moving average of $115.07 and a 200-day simple moving average of $108.11.

Insiders Place Their Bets

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 4,375 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $104.57, for a total value of $457,493.75. Following the completion of the sale, the senior vice president now directly owns 37,148 shares in the company, valued at $3,884,566.36. This represents a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan Ocampo sold 1,789 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $125.00, for a total value of $223,625.00. Following the sale, the director now owns 5,912,219 shares of the company’s stock, valued at $739,027,375. This trade represents a 0.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 302,269 shares of company stock worth $34,810,966 over the last ninety days. Company insiders own 22.75% of the company’s stock.

MACOM Technology Solutions 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.