Microsemi Corp. (NASDAQ:MSCC) SVP David Goren sold 14,603 shares of Microsemi Corp. stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $41.89, for a total value of $611,719.67. Following the sale, the senior vice president now owns 30,524 shares in the company, valued at $1,278,650.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The firm’s market cap is $4.71 billion. Microsemi Corp. has a 12 month low of $28.91 and a 12 month high of $42.64. The firm’s 50-day moving average price is $40.63 and its 200-day moving average price is $36.53.
Microsemi Corp. (NASDAQ:MSCC) last announced its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, beating the 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 firm earned $431.40 million during the quarter, compared to the consensus estimate of $430.22 million. During the same quarter in the prior year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. Equities research analysts predict that Microsemi Corp. will post $3.02 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in MSCC. Seven Eight Capital LLC increased its stake in shares of Microsemi Corp. by 119.5% in the second quarter. Seven Eight Capital LLC now owns 3,122 shares of the company’s stock worth $102,000 after buying an additional 1,700 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Microsemi Corp. by 347.6% in the second quarter. FTB Advisors Inc. now owns 4,391 shares of the company’s stock worth $143,000 after buying an additional 3,410 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Microsemi Corp. during the second quarter worth approximately $152,000. BB&T Corp purchased a new stake in shares of Microsemi Corp. during the second quarter worth approximately $217,000. Finally, LS Investment Advisors LLC increased its stake in shares of Microsemi Corp. by 70.9% in the second quarter. LS Investment Advisors LLC now owns 6,800 shares of the company’s stock worth $222,000 after buying an additional 2,820 shares in the last quarter. Institutional investors own 90.57% of the company’s stock.
MSCC has been the subject of a number of research analyst reports. Mizuho reiterated a “buy” rating and issued a $46.00 price target on shares of Microsemi Corp. in a report on Monday, September 12th. Needham & Company LLC reiterated a “buy” rating on shares of Microsemi Corp. in a report on Friday, July 29th. Zacks Investment Research downgraded Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. RBC Capital Markets reiterated a “top pick” rating and issued a $48.00 price target (up from $47.00) on shares of Microsemi Corp. in a report on Sunday, July 31st. Finally, Susquehanna initiated coverage on Microsemi Corp. in a report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.79.
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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