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Microsemi Corp. (NASDAQ:MSCC) CEO James J. Peterson unloaded 17,776 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $24.67, for a total value of $438,533.92. Following the completion of the transaction, the chief executive officer now directly owns 307,651 shares in the company, valued at approximately $7,589,750. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

A number of analysts have recently weighed in on MSCC shares. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Microsemi Corp. in a research note on Friday, July 25th. They now have a $31.00 price target on the stock, up previously from $30.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Microsemi Corp. in a research note on Thursday, July 24th. They now have a $27.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $29.33.

Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 3.27% during mid-day trading on Thursday, hitting $23.98. The stock had a trading volume of 601,322 shares. Microsemi Corp. has a 1-year low of $20.22 and a 1-year high of $27.91. The stock’s 50-day moving average is $26.27 and its 200-day moving average is $24.74. The company has a market cap of $2.233 billion and a price-to-earnings ratio of 527.45.

Microsemi Corp. (NASDAQ:MSCC) last announced its earnings results on Thursday, July 24th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. The company had revenue of $292.30 million for the quarter, compared to the consensus estimate of $290.41 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Analysts expect that Microsemi Corp. will post $2.19 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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