MACOM Technology Solutions (NASDAQ:MTSI) Sets New 52-Week High – Here’s What Happened

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.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays increased their price target on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus upped their price objective on MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their price objective on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC upped their price objective on MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler upped 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, MACOM Technology Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $128.00.

MACOM Technology Solutions Price Performance

The business has a fifty day moving average of $110.02 and a 200 day moving average of $106.28. The company has a quick ratio of 6.33, a current ratio of 8.18 and a debt-to-equity ratio of 0.45. The firm has a market cap of $9.95 billion, a P/E ratio of 140.67, a PEG ratio of 4.64 and a beta of 1.69.

Insiders Place Their Bets

In related news, SVP Donghyun Thomas Hwang sold 1,500 shares of MACOM Technology Solutions stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $118.38, for a total value of $177,570.00. Following the transaction, the senior vice president now directly owns 37,102 shares of the company’s stock, valued at $4,392,134.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Susan Ocampo sold 95,743 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $103.18, for a total value of $9,878,762.74. Following the sale, the director now owns 6,876,284 shares of the company’s stock, valued at $709,494,983.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Donghyun Thomas Hwang sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $118.38, for a total transaction of $177,570.00. Following the completion of the sale, the senior vice president now directly owns 37,102 shares in the company, valued at approximately $4,392,134.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 670,896 shares of company stock worth $71,284,378 over the last three months. Insiders own 22.75% of the company’s stock.

Hedge Funds Weigh In On MACOM Technology Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in MACOM Technology Solutions in the second quarter valued at $39,000. GAMMA Investing LLC raised its holdings in shares of MACOM Technology Solutions by 153.0% during the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 283 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of MACOM Technology Solutions during the third quarter valued at about $66,000. FSC Wealth Advisors LLC acquired a new stake in shares of MACOM Technology Solutions in the 2nd quarter worth about $78,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of MACOM Technology Solutions by 303.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 920 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 692 shares during the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

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.