Insider Selling: Microsemi Corp. CEO Sells 17,776 Shares of Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) CEO James J. Peterson sold 17,776 shares of the company’s stock on the open market in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $26.55, for a total transaction of $471,952.80. Following the completion of the sale, the chief executive officer now directly owns 307,651 shares in the company, valued at approximately $8,168,134. The sale was disclosed in a filing with the SEC, which is available at this link.
Microsemi Corp. (NASDAQ:MSCC) traded up 0.79% on Thursday, hitting $26.70. 293,319 shares of the company’s stock traded hands. Microsemi Corp. has a 52 week low of $20.22 and a 52 week high of $26.93. The stock has a 50-day moving average of $24.74 and a 200-day moving average of $24.3. The company has a market cap of $2.536 billion and a P/E ratio of 89.49.
Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.51 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.51. The company had revenue of $287.00 million for the quarter, compared to the consensus estimate of $286.20 million. During the same quarter last year, the company posted $0.43 earnings per share. Microsemi Corp.’s revenue was up 22.0% compared to the same quarter last year. Analysts expect that Microsemi Corp. will post $2.17 EPS for the current fiscal year.
A number of analysts have recently weighed in on MSCC shares. Analysts at Goldman Sachs upgraded shares of Microsemi Corp. from a “neutral” rating to a “buy” rating in a research note on Monday, June 2nd. They now have a $30.00 price target on the stock, up previously from $26.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Microsemi Corp. in a research note on Friday, April 25th. They now have a $27.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Microsemi Corp. from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 10th. They now have a $27.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $28.33.
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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