Azzad Asset Management Inc. ADV Purchases New Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Azzad Asset Management Inc. ADV purchased a new stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSIFree Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,802 shares of the semiconductor company’s stock, valued at approximately $582,000.

Several other large investors have also recently added to or reduced their stakes in MTSI. Price T Rowe Associates Inc. MD increased its holdings in MACOM Technology Solutions by 38.9% in the 4th 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 in the last quarter. Norges Bank acquired a new stake in MACOM Technology Solutions in the 4th quarter valued at $82,833,000. Vanguard Group Inc. increased its holdings in MACOM Technology Solutions by 6.0% in the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in MACOM Technology Solutions in the 4th quarter valued at $31,260,000. Finally, Nuveen Asset Management LLC increased its holdings in MACOM Technology Solutions by 129.4% in the 4th quarter. Nuveen Asset Management LLC now owns 328,081 shares of the semiconductor company’s stock valued at $42,621,000 after purchasing an additional 185,075 shares in the last quarter. 76.14% of the stock is currently owned by institutional investors and hedge funds.

MACOM Technology Solutions Stock Down 2.5%

NASDAQ:MTSI opened at $128.97 on Monday. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of -89.56, a price-to-earnings-growth ratio of 2.42 and a beta of 1.40. MACOM Technology Solutions Holdings, Inc. has a one year low of $84.00 and a one year high of $152.50. The stock has a 50-day simple moving average of $114.28 and a 200 day simple moving average of $120.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.88 and a current ratio of 3.61.

MACOM Technology Solutions (NASDAQ:MTSIGet Free Report) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $235.89 million during the quarter, compared to the consensus estimate of $230.04 million. MACOM Technology Solutions had a positive return on equity of 12.42% and a negative net margin of 13.05%. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. Sell-side analysts predict that MACOM Technology Solutions Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on MTSI shares. BNP Paribas upgraded MACOM Technology Solutions from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Wednesday, April 9th. Truist Financial assumed coverage on MACOM Technology Solutions in a research note on Friday, April 11th. They set a “buy” rating and a $125.00 target price for the company. Bank of America lowered their target price on MACOM Technology Solutions from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Stifel Nicolaus lowered their target price on MACOM Technology Solutions from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Barclays raised their target price on MACOM Technology Solutions from $125.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MACOM Technology Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.50.

Check Out Our Latest Stock Analysis on MACOM Technology Solutions

Insider Buying and Selling

In other MACOM Technology Solutions news, CFO John Kober sold 2,250 shares of MACOM Technology Solutions stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $125.65, for a total transaction of $282,712.50. Following the sale, the chief financial officer now owns 47,128 shares of the company’s stock, valued at $5,921,633.20. The trade was a 4.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donghyun Thomas Hwang sold 4,944 shares of MACOM Technology Solutions stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $118.59, for a total value of $586,308.96. Following the sale, the senior vice president now directly owns 30,659 shares in the company, valued at $3,635,850.81. The trade was a 13.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 449,227 shares of company stock valued at $55,416,217. Insiders own 16.30% of the company’s stock.

MACOM Technology Solutions Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for MACOM Technology Solutions (NASDAQ:MTSI)

Receive News & Ratings for MACOM Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MACOM Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.