Susan Ocampo, a director and major shareholder of MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI), recently sold shares worth around $32.3 million. The transactions took place on November 22, 25, and 26, involving multiple batches of common stock sold at prices ranging from $133.15 to $137.18 per share. After the sales, Ocampo indirectly holds 6,313,193 shares through the Ocampo Family Trust and additional shares through trusts for her children.
In positive news for MACOM, Needham & Company upgraded the stock price target to $150 from $120, maintaining a Buy rating. This comes after MACOM’s strong financial results in the Data Center sector, with record-breaking revenue and earnings in the fourth fiscal quarter of 2024.
MACOM also recently acquired ENGIN-IC, enhancing its capabilities for defense applications. The company projects revenue between $212 million and $218 million and an adjusted EPS of $0.75 to $0.81 for fiscal Q1 2025, aiming to surpass a $1 billion annualized revenue run rate by fiscal year 2026.
Despite the recent insider selling activity, MACOM’s market momentum remains strong, reflected in its stock performance. With a 59.02% price total return over the past year and favorable analyst forecasts, MTSI’s financial health and growth potential are noteworthy to investors. However, cautious consideration is advised due to the company’s high valuation multiples. For a more detailed analysis, InvestingPro provides additional tips on MACOM’s financial health and market position.
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