Covea Finance Increases Holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Covea Finance raised its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,000 shares of the semiconductor company’s stock after purchasing an additional 2,000 shares during the quarter. Covea Finance’s holdings in MACOM Technology Solutions were worth $3,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTSI. Park Avenue Securities LLC grew its stake in shares of MACOM Technology Solutions by 17.4% in the fourth quarter. Park Avenue Securities LLC now owns 3,675 shares of the semiconductor company’s stock valued at $477,000 after buying an additional 546 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in MACOM Technology Solutions by 22.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 98,189 shares of the semiconductor company’s stock worth $12,756,000 after acquiring an additional 18,055 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in MACOM Technology Solutions in the fourth quarter valued at approximately $216,000. ORG Wealth Partners LLC purchased a new stake in shares of MACOM Technology Solutions during the fourth quarter valued at approximately $36,000. Finally, Fulton Bank N.A. lifted its position in shares of MACOM Technology Solutions by 7.7% during the fourth quarter. Fulton Bank N.A. now owns 5,281 shares of the semiconductor company’s stock worth $686,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 76.14% of the company’s stock.

Insider Activity at MACOM Technology Solutions

In other MACOM Technology Solutions news, SVP Donghyun Thomas Hwang sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $118.38, for a total value of $177,570.00. Following the sale, the senior vice president now owns 37,102 shares in the company, valued at approximately $4,392,134.76. This trade represents a 3.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Kober sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $130.09, for a total value of $292,702.50. Following the transaction, the chief financial officer now owns 49,239 shares of the company’s stock, valued at approximately $6,405,501.51. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,212 shares of company stock worth $28,778,424 in the last 90 days. 22.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

MACOM Technology Solutions Price Performance

Shares of NASDAQ:MTSI opened at $136.21 on Wednesday. The company has a quick ratio of 6.55, a current ratio of 8.35 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $133.92 and a 200 day simple moving average of $116.84. MACOM Technology Solutions Holdings, Inc. has a fifty-two week low of $79.25 and a fifty-two week high of $143.90. The company has a market cap of $9.86 billion, a PE ratio of 132.24, a P/E/G ratio of 2.43 and a beta of 1.71.

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.