Principal Financial Group Inc. Lowers Stock Position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Principal Financial Group Inc. reduced its position in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 35.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,539 shares of the semiconductor company’s stock after selling 74,003 shares during the period. Principal Financial Group Inc. owned approximately 0.18% of MACOM Technology Solutions worth $14,858,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in MACOM Technology Solutions by 1.8% during the first quarter. Swiss National Bank now owns 113,850 shares of the semiconductor company’s stock worth $10,889,000 after acquiring an additional 2,000 shares during the period. Russell Investments Group Ltd. lifted its position in MACOM Technology Solutions by 303.7% in the 1st quarter. Russell Investments Group Ltd. now owns 23,591 shares of the semiconductor company’s stock worth $2,256,000 after buying an additional 17,748 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of MACOM Technology Solutions by 6.6% during the 1st quarter. ProShare Advisors LLC now owns 12,633 shares of the semiconductor company’s stock valued at $1,208,000 after purchasing an additional 780 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in MACOM Technology Solutions by 15.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,965 shares of the semiconductor company’s stock valued at $1,718,000 after buying an additional 2,337 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in MACOM Technology Solutions by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 6,194,008 shares of the semiconductor company’s stock worth $592,395,000 after purchasing an additional 465,759 shares during the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

MACOM Technology Solutions Stock Performance

Shares of MTSI stock opened at $123.00 on Friday. MACOM Technology Solutions Holdings, Inc. has a 12 month low of $79.25 and a 12 month high of $140.27. The company has a current ratio of 8.35, a quick ratio of 6.55 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $8.91 billion, a PE ratio of 119.42, a price-to-earnings-growth ratio of 2.42 and a beta of 1.69. The firm has a fifty day simple moving average of $113.44 and a two-hundred day simple moving average of $107.54.

Analysts Set New Price Targets

MTSI has been the subject of several analyst reports. Barclays lifted their price target on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Northland Securities upped their price target on shares of MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a research report on Monday, November 11th. Needham & Company LLC upped their price target 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. Piper Sandler increased their target price 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. Finally, Benchmark raised their price objective on shares of MACOM Technology Solutions from $120.00 to $160.00 and gave the company a “buy” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, MACOM Technology Solutions currently has an average rating of “Moderate Buy” and an average price target of $125.91.

Insider Transactions at MACOM Technology Solutions

In other news, SVP Donghyun Thomas Hwang sold 4,375 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $104.57, for a total value of $457,493.75. Following the sale, the senior vice president now directly owns 37,148 shares of the company’s stock, valued at approximately $3,884,566.36. This represents a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Ocampo sold 105,782 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $123.67, for a total transaction of $13,082,059.94. Following the completion of the transaction, the director now owns 5,914,008 shares in the company, valued at approximately $731,385,369.36. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 400,891 shares of company stock worth $45,266,113 in the last quarter. 22.75% of the stock is currently owned by corporate insiders.

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.