A new stake was secured in MACOM Technology Solutions Holdings, Inc. (NASDAQ:$MTSI) by Amalgamated Bank during the 2nd quarter. The company purchased 5,262 shares of the semiconductor company worth approximately $293,000.
Multiple other institutions recently altered their stakes in the company as well:
- Legal & General Group PLC bought an additional 3,498 shares in the 2nd quarter, an increase of 30.3% for a grand total of 15,044 shares valued at $839,000.
- AXA bought an additional 9,000 shares during the 2nd quarter, an increase of 16.7%, for a total of 63,000 shares valued at $3,514,000.
- Sei Investments Co. bought an additional 470 shares during the 1st quarter, an increase of 4.5%, for a total of 11.001 shares valued at $531,000.
- TD Asset Management Inc bought an additional 1,000 shares during the 2nd quarter, an increase of 9.2%, for a total of 11,900 shares valued at $664,000.
- Royce & Associates LP bought an additional 17,500 shares during its 2nd quarter, an increase of 20.3%, for a total of 103,500 shares valued at $5,772,000.
The company is currently 79.65% owned by institutional investors.
MACOM is a producer of high-performance analog semiconductor solutions that enable internet applications, applications economy, network battlefield across the radio frequency microwave, and cloud-connected applications.
On Thursday, the company’s stock opened at $43.62 with a market cap of $2.80 billion. They also have a 52-week high of $65.99 and a 52-week low of $35.33. The firm’s 50 and 200-day moving averages are $43.62 and $50.74, respectively.
MACOM posted its latest quarterly earnings on Tuesday, August 1st. The company fell short of consensus estimates of $0.68 with a reported $0.67 EPS. The firm posted a $0.51 EPS during the same period in the last year. Analysts predict an annualized $2.33 EPS in the current year. The firm reported a revenue of $194.56 million during this quarter, which came in just shy of analyst expectations of $194.93 million. This represented a 36.7% increase compared to the same quarter from last year.
Multiple firms have recently weighed in on the stock:
- Stifel Nicolaus: In a research report on Friday, July 14th, Stifel Nicolaus restated a ‘Buy’ rating and set a price target of $64.00.
- Needham & Company LLC: In a report from Tuesday, September 5th, Needham restated a ‘Buy’ rating and set a target price of $56.00.
- Raymond James Financial, Inc: In a report on Thursday, September 14th, Raymond James restated a rating of ‘Market-Perform’.
- Barclays PLC: In a report on Wednesday, July 12th, Barclays restated a rating of ‘Overweight’, and set a price target of $70.00.
In total, the stock has 5 ‘Buy’ ratings and 3 ‘Hold’ ratings, with a consensus of ‘Buy’ and an average target price of $58.20.
In insider news, SVP Donghyun Thomas Hwang sold 4,401 shares at an average price of $63.50 for a total transaction price of $279,463.50. The transaction was dated Monday, July 24th. Hwang currently owns 19,018 shares valued at $1,207,643. In addition, Director Charles R. Bland sold 750 shares at an average price of $60.73 for a total transaction of $45,547.50. The transaction was dated for Tuesday, August 1st. Following the transaction, Bland now owns 24,390 shares of the company valued at $1,481,204.70. In the last 90 days, 23,892 shares of company stock have been sold worth $1,418,593. Currently, 42.30% of the company’s stock is owned by insiders.
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