Microsemi Corp. COO Unloads $283,500 in Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) COO Ralph Brandi sold 10,833 shares of the stock on the open market in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $26.17, for a total transaction of $283,499.61. Following the completion of the sale, the chief operating officer now directly owns 121,000 shares in the company. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on MSCC shares. Analysts at Thomson Reuters/Verus downgraded shares of Microsemi Corp. (NASDAQ:MSCC) from a “buy” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Microsemi Corp. (NASDAQ:MSCC) in a research note to investors on Tuesday, July 30th. They now have a $26.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Microsemi Corp. (NASDAQ:MSCC) from $26.00 to $28.00 in a research note to investors on Friday, July 26th. They now have a “buy” rating on the stock.
Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $22.92.
Microsemi Corp. (NASDAQ:MSCC) traded down 0.38% during mid-day trading on Wednesday, hitting $26.29. The stock had a trading volume of 267,988 shares. Microsemi Corp. has a 52-week low of $17.12 and a 52-week high of $26.72. The stock’s 50-day moving average is $25.82 and its 200-day moving average is $22.96. The company has a market cap of $2.450 billion and a P/E ratio of 57.75.
Microsemi Corp. (NASDAQ:MSCC) last announced its earnings results on Thursday, July 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $242.60 million for the quarter, compared to the consensus estimate of $242.35 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Analysts expect that Microsemi Corp. will post $1.94 EPS for the current fiscal year.
Microsemi Corporation (NASDAQ:MSCC) is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance.
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