Fred Alger Management Inc. trimmed its stake in MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) by 25.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,304 shares of the semiconductor company’s stock after selling 242,005 shares during the period. Fred Alger Management Inc. owned about 1.10% of MACOM Technology Solutions Holdings worth $39,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Advisor Group Inc. grew its stake in MACOM Technology Solutions Holdings by 6.6% in the 2nd quarter. Advisor Group Inc. now owns 2,300 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 143 shares in the last quarter. Fifth Third Bancorp increased its position in shares of MACOM Technology Solutions Holdings by 7.9% during the first quarter. Fifth Third Bancorp now owns 2,590 shares of the semiconductor company’s stock worth $125,000 after acquiring an additional 189 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MACOM Technology Solutions Holdings by 10.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,174 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 199 shares during the period. US Bancorp DE increased its position in shares of MACOM Technology Solutions Holdings by 6.6% during the first quarter. US Bancorp DE now owns 6,479 shares of the semiconductor company’s stock worth $312,000 after acquiring an additional 402 shares during the period. Finally, Sei Investments Co. increased its position in shares of MACOM Technology Solutions Holdings by 4.5% during the first quarter. Sei Investments Co. now owns 11,001 shares of the semiconductor company’s stock worth $531,000 after acquiring an additional 470 shares during the period. 79.65% of the stock is owned by institutional investors.

Several research firms have recently weighed in on MTSI. Needham & Company LLC lifted their price target on shares of MACOM Technology Solutions Holdings from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, June 26th. Stifel Nicolaus boosted their price target on MACOM Technology Solutions Holdings from $60.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, June 6th. BidaskClub raised MACOM Technology Solutions Holdings from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $61.00 price objective (down previously from $66.00) on shares of MACOM Technology Solutions Holdings in a research note on Wednesday, August 2nd. Finally, Craig Hallum restated a “buy” rating and set a $54.00 price objective on shares of MACOM Technology Solutions Holdings in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $57.67.

MACOM Technology Solutions Holdings, Inc. (NASDAQ MTSI) traded down 0.7288% during midday trading on Wednesday, hitting $42.8653. 219,355 shares of the stock traded hands. MACOM Technology Solutions Holdings, Inc. has a 12-month low of $35.33 and a 12-month high of $65.99. The firm’s market cap is $2.75 billion. The company’s 50-day moving average is $43.17 and its 200 day moving average is $50.87.

MACOM Technology Solutions Holdings (NASDAQ:MTSI) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). MACOM Technology Solutions Holdings had a negative net margin of 22.43% and a positive return on equity of 17.21%. The firm had revenue of $194.56 million for the quarter, compared to analysts’ expectations of $194.93 million. During the same quarter last year, the business earned $0.51 earnings per share. The business’s revenue was up 36.7% compared to the same quarter last year. On average, analysts anticipate that MACOM Technology Solutions Holdings, Inc. will post $2.33 EPS for the current fiscal year.

In other news, SVP Donghyun Thomas Hwang sold 11,241 shares of MACOM Technology Solutions Holdings stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $64.26, for a total value of $722,346.66. Following the completion of the transaction, the senior vice president now owns 19,018 shares in the company, valued at approximately $1,222,096.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles R. Bland sold 750 shares of MACOM Technology Solutions Holdings stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $60.73, for a total value of $45,547.50. Following the completion of the transaction, the director now owns 24,390 shares of the company’s stock, valued at approximately $1,481,204.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,367 shares of company stock valued at $1,547,716. 57.10% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: “MACOM Technology Solutions Holdings, Inc. (MTSI) Shares Sold by Fred Alger Management Inc.” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/macom-technology-solutions-holdings-inc-mtsi-shares-sold-by-fred-alger-management-inc/1607654.html.

MACOM Technology Solutions Holdings Profile

MACOM Technology Solutions Holdings, Inc is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia.

Want to see what other hedge funds are holding MTSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI).

Institutional Ownership by Quarter for MACOM Technology Solutions Holdings (NASDAQ:MTSI)

Receive News & Ratings for MACOM Technology Solutions Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MACOM Technology Solutions Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.