Driehaus Capital Management 13F: Cuts MTSI Stake by $55M

Driehaus Capital Reduces MACOM Technology Position

Driehaus Capital Management, an investment manager known for its aggressive growth strategy, significantly reduced its exposure to MACOM Technology Solutions Holdings, Inc. (NASDAQ: MTSI). According to its latest Form 13F filing with the SEC for the period ending May 15, 2026, the fund cut its position by 30.12917720324198%. This transaction represents a reversal from earlier quarters where the fund maintained a larger slice of the semiconductor maker.

Historically, Driehaus Capital looks for companies with strong earnings momentum and accelerating growth. The fund's decision to scale back on MACOM suggests a tactical adjustment rather than a complete exit. Backed by a cost basis of $125.32 per share, the firm secured substantial gains on the shares it parted with during the quarter.

Details of the Portfolio Change

Before the reduction, Driehaus Capital held 482,051 shares of the Lowell, Massachusetts-based technology firm. The manager parted with 145,238 shares, leaving it with 336,813 shares. Despite the sell-off, the fund's remaining stake in MACOM Technology Solutions carries a substantial value of $128,113,559.17 as of the filing date. Because 13F filings are backward-looking documents, they show what institutional investors held on May 15, 2026, and may not represent the fund's current holdings today.

MACOM Stock Performance

Shares of MACOM Technology Solutions were priced at $380.37 on Saturday, which sits closer to the top of its 52-week trading range of $121.97 to $418.90. The stock has shown strong momentum, trading above its 50-day moving average of $274.54 and its 200-day moving average of $268.57. With a market capitalization of $21.32 billion, the company trades at a trailing price-to-earnings ratio of 88.88853 and a forward P/E ratio of 32.87437.

Recent Earnings

MACOM last reported annual revenue of $1,163,974,016.00, representing a growth rate of 35.8% year-over-year. The semiconductor company posted diluted earnings per share of $3.14, showing a net profit margin of 20.698999% and a return on equity of 17.184%. Investors tracking the company's financial performance can look ahead to November 5, 2026, when MACOM is scheduled to release its next quarterly financial results.

Insider Buying and Selling at MACOM Technology Solutions Holdings, Inc.

In other recent company activity, Hwang Donghyun Thomas, Senior Vice President of Global Sales, sold 2,620 shares of MACOM stock on June 25, 2026. The transaction occurred at an average price of $383.87, bringing the total value of the sale to $1,005,732.33. The sale was executed under a pre-arranged trading plan, and the executive still holds 2,620 shares directly following the transaction.

Analysts Set New Price Targets

Several research firms have updated their outlooks on MACOM in recent months. On September 18, 2026, BMO Capital upgraded the stock to an Outperform rating with a $335.00 price target, after initially setting a Market Perform rating on August 21, 2026. On August 7, 2026, Evercore ISI Group maintained its Outperform rating and boosted its target price to $475.00. Needham maintained its Buy rating with a $410.00 target on August 6, 2026. Susquehanna lowered its price target from $350.00 to $300.00 while maintaining a Neutral rating on July 21, 2026, and Stifel kept a Buy rating with a $450.00 target on June 24, 2026. Across 15 analyst opinions, the stock has a consensus recommendation of buy with an average price target of $395.33.

About MACOM Technology Solutions

MACOM Technology Solutions designs and manufactures analog semiconductor devices used in high-frequency wireless, wireline, and optical networks. Its products are vital components in 5G and 6G telecom infrastructure, military radar, satellite communications, and data centers. The company serves clients globally, with major operations spanning the United States, Asia, and Europe.

What's Ahead for MACOM Technology Solutions Holdings, Inc.

Market observers will want to monitor whether Driehaus Capital continues to scale back its position in future filings, or if the firm stabilizes its current holding. MACOM's upcoming November earnings report will provide key insights into whether the company can maintain its double-digit revenue growth and justify its premium valuation multiples.