Jennison Associates LLC Has $30.77 Million Holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Jennison Associates LLC lessened its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 18.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,005 shares of the semiconductor company’s stock after selling 74,061 shares during the period. Jennison Associates LLC owned about 0.46% of MACOM Technology Solutions worth $30,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of MACOM Technology Solutions during the 3rd quarter worth approximately $1,644,000. Asset Management One Co. Ltd. boosted its position in shares of MACOM Technology Solutions by 8.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 3,732 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 294 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of MACOM Technology Solutions during the 3rd quarter worth approximately $236,000. Strs Ohio boosted its position in shares of MACOM Technology Solutions by 54.5% during the 3rd quarter. Strs Ohio now owns 5,100 shares of the semiconductor company’s stock worth $416,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Advisor Partners II LLC acquired a new stake in shares of MACOM Technology Solutions during the 3rd quarter worth approximately $220,000. Institutional investors and hedge funds own 76.14% of the company’s stock.

Insider Activity at MACOM Technology Solutions

In related news, SVP Robert Dennehy sold 2,370 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.88, for a total transaction of $210,645.60. Following the transaction, the senior vice president now directly owns 32,827 shares of the company’s stock, valued at $2,917,663.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MACOM Technology Solutions news, Director Susan Ocampo sold 200,000 shares of MACOM Technology Solutions stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $82.39, for a total value of $16,478,000.00. Following the sale, the director now owns 7,645,668 shares of the company’s stock, valued at $629,926,586.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert Dennehy sold 2,370 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.88, for a total transaction of $210,645.60. Following the completion of the sale, the senior vice president now directly owns 32,827 shares in the company, valued at approximately $2,917,663.76. The disclosure for this sale can be found here. Insiders have sold 811,058 shares of company stock valued at $68,674,574 over the last ninety days. Corporate insiders own 22.75% of the company’s stock.

MACOM Technology Solutions Stock Up 1.9 %

Shares of NASDAQ MTSI opened at $100.72 on Thursday. The stock has a market capitalization of $7.26 billion, a P/E ratio of 96.85, a P/E/G ratio of 6.26 and a beta of 1.64. The company has a 50-day moving average price of $93.68 and a 200-day moving average price of $87.21. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $48.53 and a 1 year high of $104.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 7.24 and a quick ratio of 5.69.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $157.15 million during the quarter, compared to analysts’ expectations of $151.12 million. MACOM Technology Solutions had a net margin of 11.93% and a return on equity of 14.85%. On average, equities research analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $85.00 price target on shares of MACOM Technology Solutions in a research report on Thursday, January 4th. Needham & Company LLC increased their price objective on shares of MACOM Technology Solutions from $84.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus increased their price objective on shares of MACOM Technology Solutions from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Barclays increased their price objective on shares of MACOM Technology Solutions from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, Evercore ISI assumed coverage on shares of MACOM Technology Solutions in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $120.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.67.

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.