Microsemi Corp. (MSCC) Releases Quarterly Earnings, Beats Estimates By $0.02 EPS
Microsemi Corp. (NASDAQ:MSCC) posted its quarterly earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.02, Stock Ratings Network.com reports. The company had revenue of $255.60 million for the quarter, compared to the consensus estimate of $241.77 million.
A number of analysts have recently weighed in on MSCC shares. Analysts at Drexel Hamilton upgraded shares of Microsemi Corp. from a “hold” rating to a “buy” rating in a research note to investors on Thursday. On a related note, analysts at Zacks upgraded shares of Microsemi Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, January 13th. They now have a $30.00 price target on the stock. Two investment 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. The company presently has a consensus rating of “Buy” and an average price target of $22.38.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 0.51% on Thursday, hitting $25.12. 639,293 shares of the company’s stock traded hands. Microsemi Corp. has a 1-year low of $18.96 and a 1-year high of $26.72. The stock’s 50-day moving average is $24.37 and its 200-day moving average is $24.7. The company has a market cap of $2.360 billion and a price-to-earnings ratio of 52.60.
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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