Jennison Associates LLC Boosts Stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Jennison Associates LLC lifted its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 532,463 shares of the semiconductor company’s stock after acquiring an additional 2,646 shares during the period. Jennison Associates LLC owned approximately 0.72% of MACOM Technology Solutions worth $69,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP lifted its stake in MACOM Technology Solutions by 21.0% during the third quarter. Westfield Capital Management Co. LP now owns 1,210,547 shares of the semiconductor company’s stock worth $134,686,000 after purchasing an additional 210,151 shares during the last quarter. Geode Capital Management LLC lifted its position in MACOM Technology Solutions by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,015,781 shares of the semiconductor company’s stock worth $113,044,000 after buying an additional 46,812 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in MACOM Technology Solutions by 18.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after buying an additional 116,090 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in MACOM Technology Solutions by 52.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 530,623 shares of the semiconductor company’s stock worth $59,037,000 after buying an additional 182,058 shares in the last quarter. Finally, Stephens Investment Management Group LLC grew its position in MACOM Technology Solutions by 6.3% during the third quarter. Stephens Investment Management Group LLC now owns 505,621 shares of the semiconductor company’s stock valued at $56,255,000 after acquiring an additional 29,882 shares during the last quarter. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MACOM Technology Solutions

In related news, CFO John Kober sold 19,470 shares of MACOM Technology Solutions stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $126.88, for a total transaction of $2,470,353.60. Following the sale, the chief financial officer now directly owns 51,489 shares in the company, valued at $6,532,924.32. The trade was a 27.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donghyun Thomas Hwang sold 7,355 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $133.00, for a total value of $978,215.00. Following the completion of the sale, the senior vice president now directly owns 43,657 shares in the company, valued at approximately $5,806,381. The trade was a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,032 shares of company stock valued at $28,080,365. 16.30% of the stock is currently owned by company insiders.

MACOM Technology Solutions Price Performance

Shares of MACOM Technology Solutions stock opened at $132.34 on Tuesday. The business has a 50 day moving average of $136.09 and a 200 day moving average of $119.30. MACOM Technology Solutions Holdings, Inc. has a 52 week low of $79.25 and a 52 week high of $152.50. The company has a market cap of $9.84 billion, a PE ratio of 128.49, a P/E/G ratio of 2.32 and a beta of 1.71. The company has a quick ratio of 6.55, a current ratio of 8.35 and a debt-to-equity ratio of 0.43.

Wall Street Analyst Weigh In

MTSI has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Barclays upped their price target on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Northland Securities raised their price objective on MACOM Technology Solutions from $85.00 to $105.00 and gave the company a “market perform” rating in a research note on Monday, November 11th. Finally, Benchmark boosted their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

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.