Cresset Asset Management LLC Sells 3,603 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Cresset Asset Management LLC decreased its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 53.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,196 shares of the semiconductor company’s stock after selling 3,603 shares during the quarter. Cresset Asset Management LLC’s holdings in MACOM Technology Solutions were worth $415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTSI. Price T Rowe Associates Inc. MD lifted its position in MACOM Technology Solutions by 38.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,998,136 shares of the semiconductor company’s stock valued at $519,399,000 after purchasing an additional 1,120,510 shares during the last quarter. Norges Bank bought a new position in MACOM Technology Solutions during the fourth quarter valued at $82,833,000. Vanguard Group Inc. lifted its position in MACOM Technology Solutions by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company’s stock valued at $846,656,000 after purchasing an additional 368,979 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in MACOM Technology Solutions during the fourth quarter valued at $31,260,000. Finally, Balyasny Asset Management L.P. bought a new position in MACOM Technology Solutions during the fourth quarter valued at $18,362,000. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Trading Down 0.8%

MTSI stock opened at $122.53 on Friday. The company has a market capitalization of $9.11 billion, a PE ratio of -85.09, a P/E/G ratio of 2.42 and a beta of 1.36. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $84.00 and a 12 month high of $152.50. The firm’s 50-day moving average is $105.00 and its 200 day moving average is $120.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.61 and a quick ratio of 2.88.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $235.89 million for the quarter, compared to the consensus estimate of $230.04 million. MACOM Technology Solutions had a negative net margin of 13.05% and a positive return on equity of 12.42%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. On average, research analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BNP Paribas upgraded shares of MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 9th. Northland Capmk raised shares of MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Northland Securities raised shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and increased their target price for the company from $105.00 to $140.00 in a research note on Monday, February 10th. Stifel Nicolaus reduced their target price on shares of MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Truist Financial initiated coverage on shares of MACOM Technology Solutions in a research note on Friday, April 11th. They issued a “buy” rating and a $125.00 target price on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MACOM Technology Solutions has an average rating of “Moderate Buy” and a consensus price target of $130.50.

Insider Buying and Selling at MACOM Technology Solutions

In other MACOM Technology Solutions news, Director Susan Ocampo sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $124.13, for a total transaction of $37,239,000.00. Following the transaction, the director now owns 4,823,636 shares of the company’s stock, valued at approximately $598,757,936.68. This trade represents a 5.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Donghyun Thomas Hwang sold 4,944 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $118.59, for a total transaction of $586,308.96. Following the transaction, the senior vice president now directly owns 30,659 shares in the company, valued at $3,635,850.81. This trade represents a 13.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 708,944 shares of company stock valued at $87,647,791. Company insiders own 16.30% of the company’s stock.

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.