Sumitomo Mitsui Trust Group Inc. Makes New Investment in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,492 shares of the semiconductor company’s stock, valued at approximately $277,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of 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 last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of MACOM Technology Solutions by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,388,750 shares of the semiconductor company’s stock worth $132,821,000 after purchasing an additional 154,066 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of MACOM Technology Solutions by 958.1% during the second quarter. Millennium Management LLC now owns 1,338,600 shares of the semiconductor company’s stock worth $149,214,000 after purchasing an additional 1,212,094 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MACOM Technology Solutions by 7.5% during the second quarter. Dimensional Fund Advisors LP now owns 993,316 shares of the semiconductor company’s stock worth $110,722,000 after purchasing an additional 69,689 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its holdings in shares of MACOM Technology Solutions by 280.5% during the second quarter. Hood River Capital Management LLC now owns 704,834 shares of the semiconductor company’s stock worth $78,568,000 after purchasing an additional 519,603 shares during the last quarter. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Stephen G. Daly sold 21,012 shares of MACOM Technology Solutions stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $109.40, for a total transaction of $2,298,712.80. Following the sale, the chief executive officer now directly owns 64,472 shares of the company’s stock, valued at approximately $7,053,236.80. The trade was a 24.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Ocampo sold 1,789 shares of MACOM Technology Solutions stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $125.00, for a total value of $223,625.00. Following the sale, the director now directly owns 5,912,219 shares in the company, valued at approximately $739,027,375. The trade was a 0.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,269 shares of company stock worth $34,810,966 over the last quarter. 22.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MTSI. JPMorgan Chase & Co. raised 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. Benchmark raised their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Needham & Company LLC raised their price objective on MACOM Technology Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler lifted their target price on MACOM Technology Solutions from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Northland Securities lifted their target price on MACOM Technology Solutions from $85.00 to $105.00 and gave the company a “market perform” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $125.91.

MACOM Technology Solutions Trading Up 1.8 %

Shares of MTSI opened at $127.56 on Thursday. The stock’s 50-day moving average is $115.07 and its two-hundred day moving average is $108.11. The stock has a market cap of $9.24 billion, a PE ratio of 123.85, a P/E/G ratio of 2.16 and a beta of 1.69. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $79.25 and a 12 month high of $140.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.35 and a quick ratio of 6.55.

About MACOM Technology Solutions

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.