Short Interest in MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) Drops By 7.8%

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MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) was the target of a significant decline in short interest in November. As of November 29th, there was short interest totalling 6,970,000 shares, a decline of 7.8% from the November 14th total of 7,560,000 shares. Currently, 15.4% of the company’s shares are sold short. Based on an average daily trading volume, of 501,400 shares, the days-to-cover ratio is currently 13.9 days.

MTSI has been the subject of a number of research reports. DA Davidson lifted their price objective on MACOM Technology Solutions to $24.00 in a research note on Thursday, November 14th. Northland Securities reaffirmed a “buy” rating and issued a $30.00 price objective (up from $22.50) on shares of MACOM Technology Solutions in a research note on Monday, November 18th. ValuEngine cut MACOM Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MACOM Technology Solutions in a research note on Wednesday, November 13th. Finally, Zacks Investment Research cut MACOM Technology Solutions from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $21.09.

In other news, Director Charles R. Bland sold 3,000 shares of MACOM Technology Solutions stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $26.58, for a total value of $79,740.00. Following the completion of the sale, the director now directly owns 42,482 shares of the company’s stock, valued at $1,129,171.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 32.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Yiheng Capital LLC grew its stake in MACOM Technology Solutions by 5.1% during the 2nd quarter. Yiheng Capital LLC now owns 3,186,673 shares of the semiconductor company’s stock worth $48,214,000 after purchasing an additional 153,600 shares in the last quarter. BlackRock Inc. grew its stake in MACOM Technology Solutions by 0.3% during the 2nd quarter. BlackRock Inc. now owns 3,120,638 shares of the semiconductor company’s stock worth $47,215,000 after purchasing an additional 7,955 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in MACOM Technology Solutions by 72.3% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,665,287 shares of the semiconductor company’s stock worth $40,326,000 after purchasing an additional 1,118,360 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in MACOM Technology Solutions during the 2nd quarter worth $19,853,000. Finally, GW&K Investment Management LLC grew its stake in MACOM Technology Solutions by 12.6% during the 3rd quarter. GW&K Investment Management LLC now owns 957,387 shares of the semiconductor company’s stock worth $20,579,000 after purchasing an additional 106,782 shares in the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.

MTSI traded down $0.11 on Friday, hitting $26.25. 454,699 shares of the company were exchanged, compared to its average volume of 441,025. MACOM Technology Solutions has a twelve month low of $12.33 and a twelve month high of $27.16. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -43.75 and a beta of 1.87. The company has a current ratio of 5.33, a quick ratio of 3.88 and a debt-to-equity ratio of 2.18. The firm has a 50-day moving average price of $24.17 and a two-hundred day moving average price of $19.97.

MACOM Technology Solutions (NASDAQ:MTSI) last released its earnings results on Tuesday, November 12th. The semiconductor company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. MACOM Technology Solutions had a negative return on equity of 10.69% and a negative net margin of 77.29%. The firm had revenue of $112.20 million during the quarter, compared to analysts’ expectations of $110.16 million. During the same period in the previous year, the firm posted $0.16 EPS. MACOM Technology Solutions’s revenue for the quarter was down 25.8% on a year-over-year basis.

About MACOM Technology Solutions

MACOM Technology Solutions Holdings, Inc, together with its subsidiaries, designs and manufactures analog radio frequency (RF), microwave, millimeterwave, and lightwave spectrum products in the United States, China, the Asia Pacific, and internationally. The company offers a portfolio of standard and custom devices, including integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components, and subsystems for approximately 60 product lines.

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