Insider Selling: Microsemi Corp. CEO Sells 17,776 Shares of Stock (MSCC)
Microsemi Corp. (NASDAQ:MSCC) CEO James J. Peterson unloaded 17,776 shares of Microsemi Corp. stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $27.04, for a total transaction of $480,663.04. Following the completion of the sale, the chief executive officer now directly owns 307,651 shares of the company’s stock, valued at approximately $8,318,883. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Microsemi Corp. (NASDAQ:MSCC) traded down 0.63% during mid-day trading on Thursday, hitting $26.73. 282,385 shares of the company’s stock traded hands. Microsemi Corp. has a 52 week low of $20.22 and a 52 week high of $27.91. The stock’s 50-day moving average is $25.2 and its 200-day moving average is $24.43. The company has a market cap of $2.538 billion and a P/E ratio of 90.88.
Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Microsemi Corp. currently has a consensus rating of “Buy” and an average target price 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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