MACOM Technology Solutions Holdings Inc Shareholders: Ownership Structure, Brands, and Acquisition History
Last updated: Sep-2026Ownership Structure
Ownership Analysis
We classify MACOM as a conventionally owned public company rather than a founder controlled one, and the numbers support that call. Susan Ocampo, widow of founder and longtime Chairman John Ocampo, reported beneficial ownership of 4,884,490 shares, or 6.4 percent of the 76,295,774 shares outstanding, in a Schedule 13G/A covering the period through June 30 2026. That filing type itself is instructive: a 13G, unlike a 13D, signals a passive holder without an intent to influence control, and Ocampo has trimmed the position through periodic open market sales rather than adding to it. We do not see any other named individual or family holder approaching a control threshold, and the balance of the register, on the order of 90 percent plus of shares, sits with institutional managers and public retail investors. Stephen G. Daly, who holds the President and CEO title, and the rest of management own only modest, largely option and RSU derived stakes typical of a professionally managed company rather than an owner operator structure. We think this matters for how the company gets valued and governed: capital allocation, the pace of acquisitions and the December 2023 debt refinancing that produced a one time $193.1 million non-cash charge in fiscal 2025 were board level decisions, not calls made by a single dominant owner. We also note that MACOM's board has continued to authorize sizable M&A spending, including the roughly $135.8 million Wolfspeed RF deal, funded partly in stock, which diluted existing holders modestly and further diffused the ownership base. Taken together, we regard MACOM's governance as squarely in the standard public company category, with founder linked ownership now a historical artifact rather than a controlling feature, and we expect Ocampo family selling to continue gradually reducing that legacy stake over coming years.
Direct Owners
Institutional Shareholders
Shareholder Analysis
MACOM's shareholder base is now dominated by large institutional asset managers rather than insiders, a pattern we track closely. Fidelity, through FMR LLC, is the largest reported holder at roughly 14.1 percent of shares, followed by BlackRock Inc at roughly 10.4 percent, figures drawn from mid 2026 institutional ownership aggregation covering 13F filings with an average 46 day reporting lag. T. Rowe Price Investment Management holds close to 3.7 percent, and the various Vanguard funds and share classes combine for roughly 3.9 percent, with Geode Capital Management holding a smaller stake near 0.7 percent. We count more than 1,200 distinct institutional owners in aggregate filings as of the June 30 2026 quarter, reflecting broad index and active fund participation consistent with MACOM's inclusion in the S&P MidCap 400. We calculate that reported long only institutional ownership sits near a quarter of shares outstanding by one commonly cited aggregation, though gross 13F share counts from the largest individual holders alone can exceed that when funds double count across affiliated entities, so we treat any single institutional ownership percentage as directional rather than precise. On the insider side, Susan Ocampo's 6.4 percent stake remains the only holding large enough to require Schedule 13G disclosure, and insider trading filings we reviewed show a pattern of periodic Ocampo family and executive selling, including CEO Stephen Daly's routine share sales tied to option exercises, rather than accumulation. We view this mix, heavy institutional ownership paired with a shrinking legacy founder stake and no activist or strategic block holder, as typical of a mature, well covered semiconductor name that trades on fundamentals like data center and defense demand rather than on ownership catalysts.
Brands, Subsidiaries & Companies Owned
| Name | Type | Description |
|---|---|---|
| MACOM Technology Solutions Inc (Subsidiary) | the primary United States operating subsidiary through which product design, manufacturing and sales are conducted. | — |
| MACOM Technology Solutions Limited (Subsidiary) | Irish operating and design entity supporting European operations. | — |
| OMMIC SAS (Subsidiary) | French gallium nitride and gallium arsenide foundry acquired in 2023, retained as a wholly owned unit and design center. | — |
| ENGIN-IC Inc (Subsidiary) | gallium nitride MMIC design house acquired in November 2024, folded into the RF and microwave design team. | — |
| Metelics (Brand) | PIN diode and varactor product line acquired from Aeroflex in 2015, sold under the MACOM brand. | — |
| Nitronex (Brand) | gallium nitride RF power product line acquired in 2014, now marketed as part of MACOM's GaN portfolio. | — |
| BinOptics (Division) | indium phosphide laser diode and photonics technology acquired in 2014, integrated into MACOM's Lightwave segment. | — |
| MACOM RF Power (Division) | gallium nitride RF power business acquired from Wolfspeed in December 2023, integrated into MACOM's RF, Microwave and Millimeter Wave product group. | — |
| MACOM Japan Co Ltd (Subsidiary) | sales and design support entity serving Japanese customers. | — |
Portfolio Analysis
We see MACOM operating under a single corporate brand rather than a house of consumer facing names, which is standard for a components supplier whose customers are original equipment manufacturers, not end consumers. The company organizes its portfolio into three broad technology families: RF, microwave and millimeter wave products; lightwave and optical products; and power, analog and gallium nitride semiconductors, a structure we believe reflects how its dozen plus acquisitions since 2010 were absorbed rather than kept as standalone units. Legacy acquired names like Metelics, the diode product line bought from Aeroflex for $38.0 million in 2015, and Nitronex, the GaN business acquired in 2014 for $26.0 million, persist mainly as product line labels inside the MACOM catalog rather than as separately marketed brands. BinOptics, an indium phosphide laser maker acquired for $230.0 million in 2014, was folded directly into the Lightwave segment that today supplies optical components for data center interconnect and telecom customers. We note the 2023 addition of the Wolfspeed RF business, bought for $135.8 million in a cash and stock deal, expanded MACOM's gallium nitride RF power capability, while the 2023 purchase of OMMIC SAS, a French foundry, gave the company captive GaN and GaAs wafer fabrication in Europe rather than relying solely on third party foundries. The most recent addition we tracked, ENGIN-IC, acquired in November 2024, brought in GaN MMIC design talent that has been merged into MACOM's existing RF and microwave engineering teams rather than run as a separate subsidiary brand. We regard this pattern, consistent absorption of acquired technology into a unified MACOM identity, as a deliberate integration strategy that keeps sales, support and manufacturing centralized even as the underlying intellectual property base has been built substantially through acquisition.
Market Share & Competitors
| Company | Market Share | Revenue | Key Strength |
|---|---|---|---|
| MACOM Technology Solutions Holdings Inc ★ | N/A | $967.3M FY2025 | Designs analog and mixed signal RF microwave millimeter wave and lightwave semiconductors for wireless infrastructure data center defense and optical networking customers |
| Skyworks Solutions Inc | N/A | $4.09B FY2025 | Supplies RF front end modules and analog semiconductors focused heavily on smartphone and mobile handset customers |
| Qorvo Inc | N/A | $3.72B FY2025 | Makes RF modules and components for mobile devices defense and infrastructure and has agreed to merge with Skyworks |
| Wolfspeed Inc | N/A | $757.6M FY2025 | Silicon carbide power semiconductor maker that sold its RF business to MACOM in 2023 and now focuses on EV and industrial power |
| Semtech Corporation | N/A | $1.05B FY2025 | Analog and mixed signal semiconductor supplier focused on data center connectivity IoT and infrastructure protection |
| Analog Devices Inc | N/A | $11.02B FY2025 | Large diversified analog and mixed signal chipmaker that competes with MACOM in RF and high speed signal chain products |
| Marvell Technology Inc | N/A | $5.77B FY2025 | Competes with MACOM in data center optical and electrical interconnect chips including PAM4 DSPs and coherent optics silicon |
Competitive Analysis
We place MACOM in a crowded analog and RF semiconductor field where scale varies enormously among nominal peers. On revenue alone, MACOM's fiscal 2025 total of $967.3 million is dwarfed by Analog Devices at $11.02 billion for its fiscal year ended November 1 2025 and by Marvell Technology at $5.77 billion for the fiscal year ended February 1 2025, both of which compete with MACOM in narrower slices such as high speed signal chain parts and data center optical or electrical interconnect silicon, including Marvell's PAM4 DSP and coherent optics lines. Closer in end market focus, we track Skyworks Solutions at $4.09 billion and Qorvo at $3.72 billion for their respective fiscal 2025 years, both far larger than MACOM but concentrated on mobile handset RF front end modules, a market MACOM has deliberately avoided in favor of infrastructure, defense and data center customers; the pending Skyworks-Qorvo merger, announced in October 2025 to create a combined roughly $7.7 billion revenue RF and analog company, we believe will intensify competitive pressure in adjacent infrastructure RF sockets over time. We view Wolfspeed, at $757.6 million in fiscal 2025 revenue, as both a former supplier relationship, since MACOM bought its RF business in 2023, and an ongoing competitor in GaN and silicon carbide power semiconductors for industrial and defense applications. Semtech, at $1.05 billion for its fiscal year ended in early 2026, competes with MACOM in data center connectivity and signal integrity chips, a segment where MACOM has emphasized record growth from AI and cloud infrastructure buildouts in recent quarters, including a $271.6 million fiscal first quarter 2026 result driven by data center and industrial and defense demand. We think MACOM's differentiated position rests on its breadth across GaAs, GaN, indium phosphide and silicon photonics process technologies, giving it design wins in optical, RF and power applications that larger, more homogenous competitors often address through separate business units rather than a single integrated catalog.
Acquisitions
| Company Acquired | Deal Value | Year | Description |
|---|---|---|---|
| Mimix Broadband | N/A | 2010 | GaAs power amplifier and MMIC supplier for defense and wireless markets. |
| Optomai Inc | N/A | 2011 | optical component design house supporting MACOM's Lightwave roadmap. |
| Mindspeed Technologies | $272.0M | 2013 | broadband and infrastructure semiconductor maker, with its wireless infrastructure unit resold to Intel in 2014. |
| Nitronex | $26.0M | 2014 | gallium nitride RF power semiconductor business. |
| BinOptics Corporation | $230.0M | 2014 | indium phosphide laser diode manufacturer for optical networking. |
| FiBest Limited | N/A | 2015 | Japan based optical transceiver module maker. |
| Aeroflex Metelics diode business | $38.0M | 2015 | PIN diode and varactor product line. |
| Applied Micro Circuits Corporation | $770.0M | 2017 | data center, storage and networking semiconductor company, with its compute business later divested. |
| OMMIC SAS | $41.9M | 2023 | French GaN and GaAs foundry and design house. |
| Wolfspeed RF business | $135.8M | 2023 | gallium nitride RF power semiconductor unit, funded with $75.0M cash and $60.8M in MACOM stock. |
| ENGIN-IC Inc | N/A | 2024 | fabless GaN MMIC design firm. |
Acquisitions Analysis
We count more than a dozen acquisitions in MACOM's history as a standalone public company, and the pattern shows a business that has used M&A as its primary growth lever alongside organic research and development. Early deals were modest in size, such as the 2010 purchase of Mimix Broadband and the 2011 acquisition of Optomai, both undisclosed in price, but the 2013 agreement to buy Mindspeed Technologies for $272.0 million marked a step up in scale, later partly reversed when MACOM resold Mindspeed's wireless infrastructure unit to Intel in 2014. We view the 2014 to 2015 stretch, which added Nitronex for $26.0 million, BinOptics for $230.0 million, FiBest and the Aeroflex Metelics diode line for $38.0 million, as the period that built out MACOM's current GaN and photonics capability. The 2017 purchase of Applied Micro Circuits Corporation for $770.0 million remains the largest deal in company history by our reading of the disclosed figures, though MACOM later divested the compute focused portion of that business, illustrating a willingness to prune as well as add. More recently, we track two deals in 2023 that reshaped the RF power portfolio: the roughly $41.9 million acquisition of OMMIC SAS, which added a captive GaN and GaAs foundry in France, and the $135.8 million purchase of Wolfspeed's RF business, funded with $75.0 million in cash and $60.8 million in MACOM stock, which brought in GaN on silicon carbide power amplifier technology aimed at defense and infrastructure customers. The November 2024 acquisition of ENGIN-IC, an undisclosed sum for a fabless GaN MMIC design house, extended MACOM's in-house design bench. We believe this steady acquisition cadence, funded through a mix of cash, debt and occasional equity, has been central to MACOM's revenue growth from under $500 million a decade ago toward the $967.3 million reported for fiscal 2025, even as it has periodically required refinancing, including a 2025 debt restructuring that produced a $193.1 million non-cash charge.
Acquisition Timeline
Merger & Spin-off History
Merger & Spin-off Analysis
We trace MACOM's corporate lineage through several changes of hands well before its current public company life began. Founded in 1950 as Microwave Associates and renamed M/A-COM in 1978, the business was sold to AMP Incorporated in 1995 for $316.0 million in an all-stock deal, then passed to Tyco International when Tyco acquired AMP in 1999. Tyco carved the RF components unit out again in 2008, selling it to Cobham plc for $425.0 million, before Cobham itself exited the business in 2009, selling to an investor group led by John Ocampo operating through GaAs Labs. We regard that 2009 buyout as the true origin of the modern MACOM Technology Solutions Holdings entity, which was taken public on Nasdaq in March 2012 at $19.00 per share. Since the IPO, we do not find evidence of a full corporate merger, reverse merger or spinoff of the parent itself; instead, MACOM has grown through the bolt on acquisition and occasional divestiture pattern we detail elsewhere, including reselling Mindspeed's wireless infrastructure unit to Intel in 2014 and later shedding the compute focused piece of the Applied Micro Circuits business it bought in 2017. We believe the absence of a large scale merger or takeover attempt since 2012 reflects both MACOM's manageable size relative to would be acquirers and a board and management team, led since the Ocampo era by CEO Stephen Daly, that has preferred organic listing and acquisitive growth over a sale of the company. We note the passing of founder John Ocampo in 2023 did not trigger any change of control transaction, consistent with his stake having already become a minority, passive holding well before his death.
Ownership History
Ownership History Analysis
We view MACOM's ownership trajectory since its 2012 IPO as a steady dilution of founder influence alongside a strong run in public market value. Shares priced at $19.00 in the March 2012 offering have appreciated to roughly $275.86 as of a September 18 2026 close, a gain we calculate at roughly fourteenfold over that period, alongside substantial growth in the underlying business from a few hundred million dollars in annual revenue to $967.3 million in fiscal 2025. We track founder John Ocampo's ownership declining steadily from the concentrated stake he and his GaAs Labs investor group held at the time of the 2009 buyout and 2012 listing toward the 6.4 percent his widow Susan Ocampo now reports, a reduction driven by a long series of disclosed open market sales rather than any single transaction. We believe the market capitalization has grown enough, reaching roughly $21.07 billion by late September 2026, that even a fully retained founder stake would today represent a large but non-controlling position, meaning the ownership structure would likely resemble a widely held public company regardless of family selling. We also note the company's inclusion in the S&P MidCap 400 index has broadened its institutional shareholder base over time, drawing in index and quantitative funds alongside the active managers like Fidelity and T. Rowe Price that we track as top holders. Looking at the pattern together, we regard MACOM's ownership history since 2012 as a conventional public company evolution: an initially insider heavy capital structure that diffused gradually as the stock re-rated higher, insiders diversified their personal holdings and passive and active institutional capital filled the resulting float.
Ownership Explained
MACOM Technology Solutions Holdings is an independent, publicly traded semiconductor company with no controlling shareholder. Its predecessor businesses passed through AMP Incorporated, Tyco International and Cobham plc before an investor group led by founder John Ocampo bought the operation out of Cobham in 2009 and took it public on Nasdaq in 2012. Ocampo served as Chairman until his death in 2023, and his widow Susan Ocampo continues to hold a passive stake reported at 6.4 percent of shares outstanding as of a mid 2026 regulatory filing, a position that has been reduced through periodic sales rather than expanded. The remainder of the share base is held by institutional asset managers and public retail investors, with no single holder exercising board control. Day to day governance sits with a professional board and management team led by President and CEO Stephen G. Daly.
Because MACOM has no controlling shareholder, its strategy, capital allocation and acquisition decisions are set by an independent board and professional management team accountable to public shareholders rather than to a founding family or private equity sponsor. This structure gives the company flexibility to fund growth through equity and debt markets, as it did when raising capital tied to its 2023 acquisitions, but it also exposes the stock to the scrutiny, volatility and quarterly reporting pressure typical of a widely held public company. Susan Ocampo's residual stake links the business to its founding history without giving her family a blocking position, and the gradual decline in that stake over time signals a company moving further from its founder controlled origins toward a conventional institutionally owned ownership profile.