Hood River Capital Management LLC Purchases 519,603 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Hood River Capital Management LLC grew its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 280.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 704,834 shares of the semiconductor company’s stock after acquiring an additional 519,603 shares during the period. MACOM Technology Solutions comprises about 1.6% of Hood River Capital Management LLC’s portfolio, making the stock its 14th largest holding. Hood River Capital Management LLC owned 0.98% of MACOM Technology Solutions worth $78,568,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in MACOM Technology Solutions by 8.1% during the first quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock worth $592,395,000 after purchasing an additional 465,759 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of MACOM Technology Solutions by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock worth $132,821,000 after acquiring an additional 154,066 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of MACOM Technology Solutions by 7.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 993,316 shares of the semiconductor company’s stock worth $110,722,000 after acquiring an additional 69,689 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in MACOM Technology Solutions by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 539,249 shares of the semiconductor company’s stock valued at $50,123,000 after acquiring an additional 23,788 shares during the period. Finally, Norges Bank acquired a new stake in MACOM Technology Solutions during the 4th quarter valued at $44,250,000. 76.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Robert Dennehy sold 6,915 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $101.38, for a total value of $701,042.70. Following the sale, the senior vice president now owns 19,481 shares of the company’s stock, valued at $1,974,983.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 5,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $106.25, for a total transaction of $531,250.00. Following the sale, the senior vice president now owns 41,523 shares of the company’s stock, valued at $4,411,818.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Dennehy sold 6,915 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $101.38, for a total value of $701,042.70. Following the sale, the senior vice president now owns 19,481 shares of the company’s stock, valued at $1,974,983.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 659,861 shares of company stock valued at $69,961,783. Insiders own 22.75% of the company’s stock.

MACOM Technology Solutions Stock Down 1.8 %

Shares of MTSI opened at $103.70 on Monday. The firm has a 50 day simple moving average of $102.78 and a two-hundred day simple moving average of $102.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.18 and a quick ratio of 6.33. MACOM Technology Solutions Holdings, Inc. has a one year low of $68.58 and a one year high of $118.76. The company has a market cap of $7.48 billion, a P/E ratio of 117.84, a P/E/G ratio of 5.18 and a beta of 1.70.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $190.50 million during the quarter, compared to analysts’ expectations of $190.42 million. MACOM Technology Solutions had a return on equity of 12.59% and a net margin of 10.59%. MACOM Technology Solutions’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. Research analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 1.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MTSI. Stifel Nicolaus increased their price objective on shares of MACOM Technology Solutions from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Benchmark reissued a “buy” rating and issued a $120.00 price target on shares of MACOM Technology Solutions in a report on Thursday, September 12th. JPMorgan Chase & Co. boosted their price objective on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC increased their target price on MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their price target on MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, MACOM Technology Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

MACOM Technology Solutions 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.