Insider Selling: Dennis Leibel Unloads 5,000 Shares of Microsemi Corp. Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) Chairman Dennis Leibel sold 5,000 shares of the company’s stock on the open market in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $26.24, for a total transaction of $131,200.00. Following the completion of the sale, the chairman now directly owns 23,872 shares of the company’s stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on MSCC shares. Analysts at Wells Fargo & Co. downgraded shares of Microsemi Corp. (NASDAQ:MSCC) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They noted that the move was a valuation call. Separately, 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. Finally, 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.
Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Microsemi Corp. has a consensus rating of “Buy” and a consensus target price of $22.92.
Microsemi Corp. (NASDAQ:MSCC) traded up 0.28% on Friday, hitting $25.45. 791,060 shares of the company’s stock traded hands. 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 $25.85 and its 200-day moving average is $23.02. The company has a market cap of $2.371 billion and a price-to-earnings ratio of 55.54.
Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue 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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