MACOM Technology Solutions Holdings
MTSI on Nasdaq. MACOM Technology Solutions Holdings designs, makes, and sells semiconductors and modules to other companies. Market value $25.1bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to September 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
What to watch out for
See cheaper Technology stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $0.73 of spare cash in the past 12 months. A savings account pays about $4.
You pay 128.4 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 7 cents a year. Above 10 is good.
Quality score: 86 of 100. Price score: 9 of 100. Our list needs 70 on quality and 60 on price.
$350.67 a share, 188% above its 1-year low
Over the past year the price has ranged from $121.97 to $418.90.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $607m | $675m | $648m | $730m | $967m |
| Operating margin | |||||
| Operating margin | 13.3% | 19.7% | 16.6% | 10.1% | 13.4% |
| Debt to equity | |||||
| Debt to equity | 1.10 | 0.70 | 0.51 | 0.43 | 0.40 |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.07bn | 0.07bn | 0.07bn | 0.08bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)4 of 9
- Profit backed by cash (accruals)No
- Debt0.40× equity
- Revenue growth, five yearsStrong, 12.8% a year
- Buying back its own sharesNo, 9% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $342 million last quarter, up 36% on a year ago.
- Profit: $101 million, up 176% on a year ago.
- It keeps 18 cents of each $1 of sales as operating profit, up from 13 cents a year earlier.
- Spare cash over the past 12 months: $194 million, down from $201 million.
- 3% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $282 million more than cash, down from $406 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $201m |
| December 2024 | $218m |
| March 2025 | $236m |
| June 2025 | $252m |
| September 2025 | $261m |
| December 2025 | $272m |
| March 2026 | $289m |
| June 2026 | $342m |
| Quarter to | Amount |
|---|---|
| September 2024 | $29m |
| December 2024 | -$168m |
| March 2025 | $32m |
| June 2025 | $37m |
| September 2025 | $45m |
| December 2025 | $49m |
| March 2026 | $46m |
| June 2026 | $101m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 14 November 2025
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 657 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $950,925
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $35m | <0.1% | Added |
| First Manhattan Co.First Manhattan partners | $950,925 | <0.1% | |
| Polen CapitalDan Davidowitz | $778,998 | <0.1% | Added |
Largest holders overall
- FMR$4.0bn
- BlackRock$3.6bnAdded
- Vanguard Portfolio Management$1.4bn
- Vanguard Capital Management$1.2bnAdded
- T. Rowe Price Investment Management$1.1bnCut
- State Street$860mAdded
- Invesco$818mCut
- JPMorgan Chase$793mAdded
- Geode Capital Management$536mAdded
- Wellington Management Group LLP$459mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- FMR LLCPassive investorat least 14.1%+3.4 pts(filed with 1 related holder)Since 31 March 2026
- BlackRock, Inc.Passive investor10.4%+1.3 ptsSince 30 June 2026
- Susan M. OcampoPassive investor6.4%−2.7 ptsSince 30 June 2026
- Invesco Ltd.Passive investorSold down below 5%Since 31 December 2024
- T. Rowe Price Associates, Inc.Passive investorSold down below 5%Since 31 March 2025
- T. Rowe Price Investment Management, Inc.Passive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 14.1%+3.4 pts (filed with 1 related holder) | 31 March 2026 | |
BlackRock, Inc. Passive investor | 10.4%+1.3 pts | 30 June 2026 | |
Susan M. Ocampo Passive investor | 6.4%−2.7 pts | 30 June 2026 | |
Invesco Ltd. Passive investor | Sold down below 5% | 31 December 2024 | |
T. Rowe Price Associates, Inc. Passive investor | Sold down below 5% | 31 March 2025 | |
T. Rowe Price Investment Management, Inc. Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 9 sold $56m, $37m of it under preset trading plans.
- Roth Ambra R.SVP, GC and SecretarySoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 653
- Price
- $300.00
- Value
- $195,900
- Dennehy RobertSenior VP and COOSoldunder a preset trading plan
- Date
- 28 August 2026
- Shares
- 252
- Price
- $275.20
- Value
- $69,350
- Kober JohnSenior VP and CFOSoldunder a preset trading plan
- Date
- 17 August 2026
- Shares
- 7,389
- Price
- $326.08
- Value
- $2m
- Hwang Donghyun ThomasSVP, Global SalesSoldunder a preset trading plan
- Date
- 25 June 2026
- Shares
- 2,620
- Price
- $383.87
- Value
- $1m
- Daly Stephen GPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 29 May 2026
- Shares
- 15,828
- Price
- $365.75
- Value
- $6m
- Kober JohnSenior VP and CFOSoldunder a preset trading plan
- Date
- 18 May 2026
- Shares
- 7,644
- Price
- $359.25
- Value
- $3m
- Hwang Donghyun ThomasSVP, Global SalesSoldunder a preset trading plan
- Date
- 18 May 2026
- Shares
- 2,595
- Price
- $360.64
- Value
- $935,871
- CHUNG PETER YDirectorSold
- Date
- 14 May 2026
- Shares
- 43,268
- Price
- $378.20
- Value
- $16m
- BLAND CHARLES RDirectorSold
- Date
- 13 May 2026
- Shares
- 800
- Price
- $380.00
- Value
- $304,000
- RIBAR GEOFFREY GDirectorSold
- Date
- 11 May 2026
- Shares
- 1,623
- Price
- $361.84
- Value
- $587,266
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 October 2026 | Roth Ambra R. SVP, GC and Secretary | Sold under a preset trading plan | 653 | $300.00 | $195,900 |
| 28 August 2026 | Dennehy Robert Senior VP and COO | Sold under a preset trading plan | 252 | $275.20 | $69,350 |
| 17 August 2026 | Kober John Senior VP and CFO | Sold under a preset trading plan | 7,389 | $326.08 | $2m |
| 25 June 2026 | Hwang Donghyun Thomas SVP, Global Sales | Sold under a preset trading plan | 2,620 | $383.87 | $1m |
| 29 May 2026 | Daly Stephen G President and CEO, Director | Sold under a preset trading plan | 15,828 | $365.75 | $6m |
| 18 May 2026 | Kober John Senior VP and CFO | Sold under a preset trading plan | 7,644 | $359.25 | $3m |
| 18 May 2026 | Hwang Donghyun Thomas SVP, Global Sales | Sold under a preset trading plan | 2,595 | $360.64 | $935,871 |
| 14 May 2026 | CHUNG PETER Y Director | Sold | 43,268 | $378.20 | $16m |
| 13 May 2026 | BLAND CHARLES R Director | Sold | 800 | $380.00 | $304,000 |
| 11 May 2026 | RIBAR GEOFFREY G Director | Sold | 1,623 | $361.84 | $587,266 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 14 Nov 2025, plus the 10-Q filed 6 Aug 2026 and 6 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It isn't cheap on profits: 128.4× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.