Eastern Bank Makes New Investment in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Eastern Bank acquired a new stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,225 shares of the semiconductor company’s stock, valued at approximately $136,000.

A number of other hedge funds have also recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new position in MACOM Technology Solutions during the second quarter valued at approximately $39,000. GAMMA Investing LLC lifted its stake in shares of MACOM Technology Solutions by 153.0% during the 2nd quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 283 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in MACOM Technology Solutions in the 3rd quarter worth $66,000. Fidelis Capital Partners LLC bought a new position in MACOM Technology Solutions in the 1st quarter worth $77,000. Finally, FSC Wealth Advisors LLC purchased a new stake in MACOM Technology Solutions in the 2nd quarter worth $78,000. Institutional investors own 76.14% of the company’s stock.

MACOM Technology Solutions Stock Performance

Shares of NASDAQ:MTSI opened at $116.98 on Friday. The firm has a fifty day simple moving average of $107.35 and a two-hundred day simple moving average of $104.85. The company has a quick ratio of 6.33, a current ratio of 8.18 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $8.44 billion, a P/E ratio of 132.93, a PEG ratio of 4.35 and a beta of 1.70. MACOM Technology Solutions Holdings, Inc. has a 52 week low of $68.58 and a 52 week high of $118.76.

MACOM Technology Solutions (NASDAQ:MTSI) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $190.50 million for 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%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, analysts expect that MACOM Technology Solutions Holdings, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, Director Susan Ocampo sold 305,395 shares of MACOM Technology Solutions stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $106.48, for a total transaction of $32,518,459.60. Following the completion of the transaction, the director now directly owns 6,550,889 shares of the company’s stock, valued at $697,538,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MACOM Technology Solutions news, Director Susan Ocampo sold 305,395 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $106.48, for a total transaction of $32,518,459.60. Following the completion of the transaction, the director now owns 6,550,889 shares in the company, valued at $697,538,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen G. Daly sold 21,012 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $109.40, for a total value of $2,298,712.80. Following the completion of the sale, the chief executive officer now owns 64,472 shares in the company, valued at approximately $7,053,236.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 654,861 shares of company stock worth $69,430,533. Company insiders own 22.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on MACOM Technology Solutions from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Benchmark reaffirmed a “buy” rating and set a $120.00 price objective on shares of MACOM Technology Solutions in a report on Thursday, September 12th. Barclays lifted their price objective on shares of MACOM Technology Solutions from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC raised their target price on shares of MACOM Technology Solutions from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of MACOM Technology Solutions from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

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.