Corebridge Financial Inc. Sells 2,757 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Corebridge Financial Inc. lowered its holdings in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 65,524 shares of the semiconductor company’s stock after selling 2,757 shares during the quarter. Corebridge Financial Inc.’s holdings in MACOM Technology Solutions were worth $8,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MTSI. Vanguard Group Inc. increased its holdings in shares of MACOM Technology Solutions by 6.0% during the fourth quarter. Vanguard Group Inc. now owns 6,517,251 shares of the semiconductor company’s stock worth $846,656,000 after purchasing an additional 368,979 shares during the period. Geode Capital Management LLC grew its position in MACOM Technology Solutions by 4.8% during the third 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 in the last quarter. The Manufacturers Life Insurance Company increased its stake in MACOM Technology Solutions by 18.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 745,503 shares of the semiconductor company’s stock worth $82,945,000 after acquiring an additional 116,090 shares during the period. Jennison Associates LLC raised its holdings in MACOM Technology Solutions by 0.5% in the 4th quarter. Jennison Associates LLC now owns 532,463 shares of the semiconductor company’s stock valued at $69,172,000 after acquiring an additional 2,646 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of MACOM Technology Solutions by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 532,342 shares of the semiconductor company’s stock valued at $69,157,000 after acquiring an additional 1,719 shares during the period. Institutional investors own 76.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Geoffrey G. Ribar sold 6,656 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $121.61, for a total value of $809,436.16. Following the completion of the transaction, the director now owns 14,031 shares of the company’s stock, valued at $1,706,309.91. This represents a 32.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan Ocampo sold 97,527 shares of MACOM Technology Solutions stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $124.08, for a total transaction of $12,101,150.16. Following the sale, the director now owns 4,689,225 shares in the company, valued at approximately $581,839,038. This represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 746,198 shares of company stock valued at $92,503,343 in the last 90 days. Corporate insiders own 16.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Northland Securities upgraded MACOM Technology Solutions from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $105.00 to $140.00 in a research report on Monday, February 10th. Northland Capmk raised shares of MACOM Technology Solutions from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Benchmark restated a “buy” rating and issued a $160.00 target price on shares of MACOM Technology Solutions in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MACOM Technology Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

MACOM Technology Solutions Trading Down 3.5 %

Shares of MACOM Technology Solutions stock opened at $101.90 on Friday. The firm’s 50 day moving average is $120.25 and its 200 day moving average is $122.37. The firm has a market capitalization of $7.58 billion, a PE ratio of -70.76, a price-to-earnings-growth ratio of 2.42 and a beta of 1.74. MACOM Technology Solutions Holdings, Inc. has a 1 year low of $90.01 and a 1 year high of $152.50. The company has a current ratio of 3.61, a quick ratio of 2.88 and a debt-to-equity ratio of 0.33.

MACOM Technology Solutions (NASDAQ:MTSI) last posted its earnings results on Thursday, February 6th. The semiconductor company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.38). MACOM Technology Solutions had a positive return on equity of 12.42% and a negative net margin of 13.05%. Equities research analysts forecast that MACOM Technology Solutions Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

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.