Insider Selling: Microsemi Corp. EVP Unloads 11,400 Shares of Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) EVP Steven Litchfield sold 11,400 shares of Microsemi Corp. stock on the open market in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $23.86, for a total value of $272,004.00. Following the completion of the transaction, the executive vice president now directly owns 58,900 shares in the company, valued at approximately $1,405,354. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of 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 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 P/E ratio of 52.45.
Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly 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. On average, analysts predict that Microsemi Corp. will post $1.94 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on MSCC shares. 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 equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Microsemi Corp. currently has a consensus rating of “Buy” and an average 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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