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Microsemi Corp. (NASDAQ:MSCC) CEO James J. Peterson sold 17,776 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $26.79, for a total value of $476,219.04. Following the completion of the transaction, the chief executive officer now directly owns 307,651 shares of the company’s stock, valued at approximately $8,241,970. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 0.96% on Thursday, hitting $26.36. The stock had a trading volume of 355,762 shares. Microsemi Corp. has a 1-year low of $20.22 and a 1-year high of $27.91. The stock has a 50-day moving average of $26.10 and a 200-day moving average of $24.65. The company has a market cap of $2.503 billion and a price-to-earnings ratio of 89.92.

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. On average, analysts predict that Microsemi Corp. will post $2.17 earnings per share for the current fiscal year.

MSCC has been the subject of a number of recent research reports. 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. 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus 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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