Emerald Mutual Fund Advisers Trust boosted its stake in shares of Microsemi Corp. (NASDAQ:MSCC) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 612,579 shares of the company’s stock after buying an additional 26,542 shares during the period. Microsemi Corp. makes up about 1.1% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 19th largest position. Emerald Mutual Fund Advisers Trust’s holdings in Microsemi Corp. were worth $20,019,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Microsemi Corp. by 72.2% in the first quarter. State Street Corp now owns 3,787,545 shares of the company’s stock valued at $145,102,000 after buying an additional 1,587,798 shares in the last quarter. Teachers Advisors Inc. increased its stake in Microsemi Corp. by 646.6% in the first quarter. Teachers Advisors Inc. now owns 1,036,564 shares of the company’s stock valued at $39,711,000 after buying an additional 897,735 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Microsemi Corp. by 27.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,437,316 shares of the company’s stock valued at $131,684,000 after buying an additional 745,087 shares during the period. Bank of Montreal Can bought a new stake in Microsemi Corp. during the second quarter valued at approximately $19,098,000. Finally, TIAA CREF Investment Management LLC increased its stake in Microsemi Corp. by 93.9% in the first quarter. TIAA CREF Investment Management LLC now owns 878,960 shares of the company’s stock valued at $33,673,000 after buying an additional 425,643 shares during the period. Institutional investors own 90.57% of the company’s stock.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 0.07% during mid-day trading on Tuesday, reaching $41.35. The company’s stock had a trading volume of 339,044 shares. The firm’s market cap is $4.68 billion. The firm’s 50-day moving average price is $40.38 and its 200 day moving average price is $36.39. Microsemi Corp. has a 12-month low of $28.91 and a 12-month high of $42.19.
Microsemi Corp. (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. The business had revenue of $431.40 million for the quarter, compared to the consensus estimate of $430.22 million. During the same period last year, the business posted $0.68 EPS. The business’s revenue was up 36.0% compared to the same quarter last year. On average, analysts expect that Microsemi Corp. will post $3.02 EPS for the current year.
Several equities research analysts have commented on MSCC shares. TheStreet raised Microsemi Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Zacks Investment Research raised Microsemi Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, September 27th. Needham & Company LLC reissued a “buy” rating on shares of Microsemi Corp. in a report on Friday, July 29th. Mizuho boosted their target price on Microsemi Corp. from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Finally, SunTrust Banks Inc. reissued a “buy” rating on shares of Microsemi Corp. in a report on Saturday, June 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.79.
In other news, VP Frederick C. Goerner sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $39.39, for a total value of $157,560.00. Following the completion of the sale, the vice president now owns 52,561 shares of the company’s stock, valued at approximately $2,070,377.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul F. Folino sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $39.80, for a total value of $59,700.00. Following the completion of the sale, the director now directly owns 1,070 shares of the company’s stock, valued at approximately $42,586. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
About Microsemi Corp.
Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans.
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