MTSI is trading 4.9% down at $351.20 as the stock faces pressure from its removal from the Russell 1000 Value Benchmark and recent profit-taking.
- The exclusion from the benchmark index can trigger automated selling by index-tracking and quantitative funds, adding downward pressure on the share price.
- Investors are also locking in gains following a significant post-earnings rally driven by strong financial results and optimistic guidance.