Insider Selling: Microsemi Corp. CEO Sells 36,666 Shares of Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) CEO James Peterson sold 36,666 shares of Microsemi Corp. stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $23.89, for a total value of $875,950.74. Following the completion of the sale, the chief executive officer now directly owns 236,963 shares of the company’s stock, valued at approximately $5,661,046. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
MSCC has been the subject of a number of recent research reports. Analysts at Wells Fargo & Co. downgraded shares of Microsemi Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, September 19th. They noted that the move was a valuation call. Separately, analysts at Thomson Reuters/Verus downgraded shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 16th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Microsemi Corp. 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 assigned a buy rating and one has given a strong buy rating to the company. Microsemi Corp. currently has a consensus rating of “Buy” and an average price target of $22.92.
Microsemi Corp. (NASDAQ:MSCC) traded up 2.67% on Thursday, hitting $24.61. The stock had a trading volume of 265,399 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 $25.30 and its 200-day moving average is $23.2. The company has a market cap of $2.293 billion and a price-to-earnings ratio of 52.45.
Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings data 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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