Insider Selling: Microsemi Corp. COO Sells 10,833 Shares of Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) COO Ralph Brandi sold 10,833 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.18, for a total transaction of $272,774.94. Following the completion of the sale, the chief operating officer now directly owns 65,000 shares of the company’s stock, valued at approximately $1,636,700. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on MSCC. 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 given a strong buy rating to the stock. Microsemi Corp. currently has an average rating of “Buy” and a consensus target price of $22.92.
Microsemi Corp. (NASDAQ:MSCC) traded up 0.47% on Thursday, hitting $25.57. The stock had a trading volume of 488,192 shares. Microsemi Corp. has a one year low of $17.12 and a one year high of $26.72. The stock has a 50-day moving average of $25.22 and a 200-day moving average of $23.34. The company has a market cap of $2.383 billion and a price-to-earnings ratio of 55.69.
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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