Retirement Systems of Alabama Increases Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Retirement Systems of Alabama grew its holdings in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 99,555 shares of the semiconductor company’s stock after purchasing an additional 2,517 shares during the period. Retirement Systems of Alabama’s holdings in MACOM Technology Solutions were worth $11,076,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MTSI. Quarry LP bought a new position in MACOM Technology Solutions during the 3rd quarter valued at approximately $57,000. Allspring Global Investments Holdings LLC bought a new position in shares of MACOM Technology Solutions during the third quarter valued at $66,000. GAMMA Investing LLC raised its position in shares of MACOM Technology Solutions by 75.4% in the 3rd quarter. GAMMA Investing LLC now owns 821 shares of the semiconductor company’s stock worth $91,000 after purchasing an additional 353 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in MACOM Technology Solutions by 303.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 920 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 692 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in MACOM Technology Solutions during the 3rd quarter valued at about $111,000. 76.14% of the stock is owned by institutional investors.

MACOM Technology Solutions Trading Up 1.4 %

Shares of NASDAQ:MTSI opened at $140.92 on Tuesday. MACOM Technology Solutions Holdings, Inc. has a 52-week low of $79.25 and a 52-week high of $143.90. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 136.82, a PEG ratio of 2.42 and a beta of 1.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.55 and a current ratio of 8.35. The stock’s 50-day simple moving average is $125.93 and its two-hundred day simple moving average is $112.49.

Insider Buying and Selling

In related news, SVP Donghyun Thomas Hwang sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $118.38, for a total transaction of $177,570.00. Following the completion of the transaction, the senior vice president now directly owns 37,102 shares in the company, valued at approximately $4,392,134.76. The trade was a 3.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Ocampo sold 25,351 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $130.05, for a total transaction of $3,296,897.55. Following the completion of the sale, the director now directly owns 6,046,676 shares of the company’s stock, valued at approximately $786,370,213.80. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,962 shares of company stock valued at $28,485,722. 22.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTSI has been the topic of several analyst reports. Benchmark upped their target price on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. 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 increased their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Northland Securities boosted their price target on MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a research note on Monday, November 11th. Three 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, MACOM Technology Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

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.