Insider Selling: Microsemi Corp. CEO Unloads 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 that occurred on Wednesday, September 3rd. The shares were sold at an average price of $26.41, for a total transaction of $469,464.16. Following the completion of the transaction, the chief executive officer now directly owns 307,651 shares of the company’s stock, valued at approximately $8,125,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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. 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $29.33.
Microsemi Corp. (NASDAQ:MSCC) traded down 0.08% during mid-day trading on Thursday, hitting $26.31. 144,253 shares of the company’s stock traded hands. 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 $25.13 and its 200-day moving average is $24.98. The company has a market cap of $2.510 billion and a price-to-earnings ratio of 548.54.
Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.58 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.49 earnings per share. Microsemi Corp.’s revenue was up 20.5% compared to the same quarter last year. On average, analysts predict that Microsemi Corp. will post $2.19 earnings per share 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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