Principal Financial Group Inc. Sells 74,003 Shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

Principal Financial Group Inc. reduced its stake in shares of MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 35.7% during the third quarter, Holdings Channel reports. The institutional investor owned 133,539 shares of the semiconductor company’s stock after selling 74,003 shares during the period. Principal Financial Group Inc.’s holdings in MACOM Technology Solutions were worth $14,858,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of MACOM Technology Solutions during the 2nd quarter valued at approximately $39,000. GAMMA Investing LLC grew its holdings in MACOM Technology Solutions by 153.0% during the second quarter. GAMMA Investing LLC now owns 468 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 283 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in MACOM Technology Solutions during the third quarter worth approximately $66,000. FSC Wealth Advisors LLC purchased a new position in shares of MACOM Technology Solutions in the second quarter valued at approximately $78,000. Finally, Farther Finance Advisors LLC lifted its position in MACOM Technology Solutions by 303.5% during the third quarter. Farther Finance Advisors LLC now owns 920 shares of the semiconductor company’s stock worth $102,000 after buying an additional 692 shares in the last quarter. 76.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Susan Ocampo sold 105,782 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $123.67, for a total value of $13,082,059.94. Following the completion of the sale, the director now directly owns 5,914,008 shares in the company, valued at approximately $731,385,369.36. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert Dennehy sold 6,683 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $106.78, for a total transaction of $713,610.74. Following the sale, the senior vice president now owns 26,396 shares of the company’s stock, valued at $2,818,564.88. This trade represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 400,891 shares of company stock worth $45,266,113 over the last ninety days. Company insiders own 22.75% of the company’s stock.

MACOM Technology Solutions Stock Performance

MTSI opened at $123.00 on Friday. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 119.42, a price-to-earnings-growth ratio of 2.42 and a beta of 1.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.35 and a quick ratio of 6.55. MACOM Technology Solutions Holdings, Inc. has a 1-year low of $79.25 and a 1-year high of $140.27. The business has a 50 day moving average price of $113.44 and a two-hundred day moving average price of $107.54.

Wall Street Analysts Forecast Growth

MTSI has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on MACOM Technology Solutions from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Northland Securities increased their target price on MACOM Technology Solutions from $85.00 to $105.00 and gave the stock a “market perform” rating in a research note on Monday, November 11th. Piper Sandler raised their price target on MACOM Technology Solutions from $100.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Benchmark raised their price objective on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Barclays lifted their target price on MACOM Technology Solutions from $120.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.91.

MACOM Technology Solutions 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.