Conestoga Capital Advisors LLC Acquires 56,200 Shares of MACOM Technology Solutions Holdings, Inc. $MTSI

Conestoga Capital Advisors LLC acquired a new stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 56,200 shares of the semiconductor company’s stock, valued at approximately $16,007,000. Conestoga Capital Advisors LLC owned 0.07% of MACOM Technology Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Jupiter Topco LLC purchased a new position in MACOM Technology Solutions in the second quarter valued at approximately $256,612,000. Bank of America Corp DE acquired a new position in shares of MACOM Technology Solutions in the second quarter worth about $247,732,000. Bank of New York Mellon Corp bought a new stake in shares of MACOM Technology Solutions in the second quarter worth $204,593,000. Janus Henderson Group PLC raised its stake in shares of MACOM Technology Solutions by 15.5% in the 1st quarter. Janus Henderson Group PLC now owns 784,118 shares of the semiconductor company’s stock valued at $174,109,000 after purchasing an additional 105,032 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in MACOM Technology Solutions during the 2nd quarter worth approximately $137,970,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Insider Buying and Selling at MACOM Technology Solutions

In related news, CFO John Kober sold 1,027 shares of MACOM Technology Solutions stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $236.60, for a total transaction of $242,988.20. Following the sale, the chief financial officer directly owned 34,405 shares in the company, valued at $8,140,223. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Robert Dennehy sold 252 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $275.20, for a total value of $69,350.40. Following the completion of the sale, the chief operating officer owned 12,758 shares in the company, valued at $3,511,001.60. The trade was a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,321 shares of company stock valued at $2,917,644. 0.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MTSI has been the subject of a number of analyst reports. Susquehanna reduced their price objective on MACOM Technology Solutions from $350.00 to $300.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Needham & Company LLC upped their price objective on shares of MACOM Technology Solutions from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings lowered shares of MACOM Technology Solutions from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 21st. BMO Capital Markets raised shares of MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and set a $335.00 target price on the stock in a research note on Friday, September 18th. Finally, Zacks Research upgraded shares of MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $338.08.

MACOM Technology Solutions Price Performance

Shares of NASDAQ MTSI opened at $233.13 on Thursday. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 74.96, a PEG ratio of 0.77 and a beta of 1.82. The business has a 50-day moving average of $273.90 and a 200-day moving average of $283.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.34 and a quick ratio of 1.78. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $144.62 and a fifty-two week high of $418.90.

MACOM Technology Solutions (NASDAQ:MTSI) last announced its quarterly earnings results on Thursday, August 6th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. The business had revenue of $342.24 million during the quarter, compared to the consensus estimate of $336.08 million. MACOM Technology Solutions had a return on equity of 17.82% and a net margin of 20.70%. The company’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. As a group, sell-side analysts predict that MACOM Technology Solutions Holdings, Inc. will post 4.26 earnings per share for the current fiscal year.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc develops and manufactures high-performance semiconductor products for applications involving radio frequency, microwave, millimeter-wave, analog, mixed-signal and optical technologies. Its offerings include integrated circuits, discrete components, modules and semiconductor devices designed to support communications, connectivity and sensing systems.

The company serves markets including telecommunications, data centers, aerospace and defense, industrial, automotive and consumer applications.