MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Director Susan Ocampo has sold a significant amount of company stock, according to a recent SEC filing. The transactions, which took place on May 15 and 16, 2024, involved the sale of MACOM shares totaling over $23 million.
The director sold shares in multiple transactions, with prices ranging from $102.51 to $103.30. On May 15, two separate sales were conducted: one for 96,204 shares at an average price of $102.55 and another for 53,796 shares at an average price of $103.30. The following day, Ocampo continued to sell shares, with 4,715 shares going for an average price of $102.51 and 77,646 shares sold at an average of $103.01.
These sales resulted in a total of $23,904,496 returned to the director, reflecting substantial trading activity. It's important to note that the shares sold were indirectly owned by trusts for the director's children, as indicated in the footnotes of the SEC filing.
Post-transaction, Susan Ocampo still holds a significant stake in MACOM Technology Solutions, with millions of shares remaining in the trusts for her children. The transactions were executed with full transparency, and the director has offered to provide detailed information about the shares sold at each price point upon request.
Investors often monitor insider sales as they can provide insights into an executive's perspective on the company's future prospects. In this case, the director's remaining substantial holdings suggest continued alignment with the company's long-term performance.
MACOM Technology Solutions Holdings, Inc., based in Lowell, Massachusetts, specializes in semiconductors and related devices and is incorporated in Delaware. The company's stock is traded on the NASDAQ under the ticker symbol MTSI.
InvestingPro Insights
MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) has been a subject of investor focus following the recent insider selling activity by Director Susan Ocampo. In light of these developments, a look at the company's financial metrics and analyst sentiment may offer additional context. According to InvestingPro data, MACOM has a market capitalization of $7.27 billion, and it trades at a high earnings multiple with a P/E ratio of 112.8. This valuation is reflective of the company's earnings over the last twelve months as of Q2 2024, which investors should consider when assessing the stock's current price levels.
Moreover, the company's stock price movements have been quite volatile, which is a crucial consideration for traders and investors alike. Despite the recent insider sales, MACOM's stock has seen a strong return over the last year, with a price total return of 71.33%. This performance is further underscored by the stock trading near its 52-week high, at 94.25% of this level. Additionally, the company's liquid assets exceed its short-term obligations, indicating a level of financial stability that may reassure investors concerned about the director's stock sale.
For those looking to delve deeper into MACOM's financial health and future prospects, InvestingPro offers a wealth of additional insights. There are currently 17 InvestingPro Tips available for MTSI, including predictions from analysts that the company will be profitable this year and has been profitable over the last twelve months. These insights, along with other metrics such as the company's moderate level of debt and high return over the last five years, can be invaluable for making informed investment decisions. To access these insights and more, investors can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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