Pinnacle Associates Ltd. Takes Position in MACOM Technology Solutions Holdings Inc (MTSI)

Pinnacle Associates Ltd. bought a new position in MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) during the first quarter, Holdings Channel reports. The firm bought 342,415 shares of the semiconductor company’s stock, valued at approximately $16,539,000. Pinnacle Associates Ltd. owned about 0.54% of MACOM Technology Solutions Holdings at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Mercantile Trust Co. raised its stake in MACOM Technology Solutions Holdings by 24.2% in the first quarter. First Mercantile Trust Co. now owns 2,372 shares of the semiconductor company’s stock worth $115,000 after buying an additional 462 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in MACOM Technology Solutions Holdings during the first quarter worth approximately $130,000. Fortaleza Asset Management Inc. raised its stake in MACOM Technology Solutions Holdings by 74.9% in the fourth quarter. Fortaleza Asset Management Inc. now owns 4,425 shares of the semiconductor company’s stock worth $205,000 after buying an additional 1,895 shares during the last quarter. Quantum Capital Management acquired a new stake in MACOM Technology Solutions Holdings during the fourth quarter worth approximately $207,000. Finally, Great West Life Assurance Co. Can raised its stake in MACOM Technology Solutions Holdings by 96.4% in the first quarter. Great West Life Assurance Co. Can now owns 4,713 shares of the semiconductor company’s stock worth $227,000 after buying an additional 2,313 shares during the last quarter. 61.02% of the stock is owned by institutional investors and hedge funds.

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

MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) traded up 1.30% during trading on Friday, hitting $56.18. The stock had a trading volume of 899,528 shares. The company’s 50 day moving average is $50.33 and its 200 day moving average is $47.32. The firm’s market cap is $3.59 billion. MACOM Technology Solutions Holdings Inc has a 52-week low of $29.56 and a 52-week high of $57.30.

MACOM Technology Solutions Holdings (NASDAQ:MTSI) last released its earnings results on Tuesday, April 25th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. MACOM Technology Solutions Holdings had a return on equity of 19.84% and a net margin of 2.76%. The firm had revenue of $186.08 million for the quarter, compared to the consensus estimate of $182.73 million. During the same period in the prior year, the firm earned $0.46 EPS. The firm’s revenue was up 39.3% on a year-over-year basis. Equities research analysts forecast that MACOM Technology Solutions Holdings Inc will post $2.65 earnings per share for the current year.

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A number of analysts have commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 target price on shares of MACOM Technology Solutions Holdings in a report on Wednesday. Barclays PLC reissued a “buy” rating and issued a $52.00 target price on shares of MACOM Technology Solutions Holdings in a report on Friday, January 20th. Needham & Company LLC lifted their target price on MACOM Technology Solutions Holdings from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Zacks Investment Research lowered MACOM Technology Solutions Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Stifel Nicolaus lifted their target price on MACOM Technology Solutions Holdings from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. MACOM Technology Solutions Holdings has an average rating of “Buy” and an average price target of $54.29.

In related news, Director Charles R. Bland sold 1,750 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $49.77, for a total value of $87,097.50. Following the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,447,809.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman John L. Ocampo sold 500 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $56.84, for a total value of $28,420.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,501 shares of company stock worth $11,872,023. 57.10% of the stock is owned by insiders.

MACOM Technology Solutions Holdings Company Profile

MACOM Technology Solutions Holdings, Inc is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia.

5 Day Chart for NASDAQ:MTSI

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