Insider Selling: Microsemi Corp. COO Sells 21,000 Shares of Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) COO Ralph Brandi unloaded 21,000 shares of Microsemi Corp. stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $23.89, for a total value of $501,690.00. Following the completion of the sale, the chief operating officer now directly owns 65,000 shares of the company’s stock, valued at approximately $1,552,850. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded up 2.67% during mid-day trading on Thursday, hitting $24.61. 265,399 shares of the company’s stock traded hands. Microsemi Corp. has a 1-year low of $17.12 and a 1-year 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 released its earnings data on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.55 earnings per share. Microsemi Corp.’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that Microsemi Corp. will post $1.94 earnings per share for the current fiscal year.
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 research 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’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.92.
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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