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Microsemi Corp. (NASDAQ:MSCC) CEO James J. Peterson unloaded 17,776 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $24.09, for a total transaction of $428,223.84. Following the transaction, the chief executive officer now directly owns 307,651 shares in the company, valued at approximately $7,411,313. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

MSCC has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Microsemi Corp. currently has an average rating of “Buy” and a consensus target price of $29.33.

Microsemi Corp. (NASDAQ:MSCC) traded up 0.46% during mid-day trading on Wednesday, hitting $24.12. The stock had a trading volume of 334,867 shares. Microsemi Corp. has a one year low of $20.22 and a one year high of $27.91. The stock has a 50-day moving average of $25.60 and a 200-day moving average of $24.69. The company has a market cap of $2.301 billion and a price-to-earnings ratio of 500.21.

Microsemi Corp. (NASDAQ:MSCC) last announced its earnings results on Thursday, July 24th. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue 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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