Microsemi Corp. (MSCC) Coverage Initiated by Analysts at Susquehanna
Research analysts at Susquehanna began coverage on shares of Microsemi Corp. (NASDAQ:MSCC) in a note issued to investors on Tuesday. The firm set a “positive” rating on the stock.
Other equities research analysts have also issued reports about the stock. Mizuho reaffirmed a “buy” rating and issued a $46.00 price target on shares of Microsemi Corp. in a report on Monday, September 12th. Needham & Company LLC reaffirmed a “buy” rating on shares of Microsemi Corp. in a report on Friday, July 29th. Zacks Investment Research lowered shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. RBC Capital Markets reaffirmed a “top pick” rating and issued a $48.00 price target (up from $47.00) on shares of Microsemi Corp. in a report on Sunday, July 31st. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Microsemi Corp. in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $45.69.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 1.77% on Tuesday, hitting $40.62. The stock had a trading volume of 768,326 shares. The firm’s market cap is $4.60 billion. The firm’s 50-day moving average price is $39.77 and its 200 day moving average price is $35.96. Microsemi Corp. has a 12 month low of $28.91 and a 12 month high of $42.11.
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Microsemi Corp. (NASDAQ:MSCC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $431.40 million for the quarter, compared to analyst estimates of $430.22 million. Microsemi Corp. had a negative net margin of 3.12% and a positive return on equity of 17.32%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. Analysts anticipate that Microsemi Corp. will post $3.02 EPS for the current fiscal year.
In related news, Director Paul F. Folino sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $39.80, for a total transaction of $59,700.00. Following the completion of the transaction, the director now owns 1,070 shares in the company, valued at approximately $42,586. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Frederick C. Goerner sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $39.39, for a total transaction of $157,560.00. Following the transaction, the vice president now owns 52,561 shares of the company’s stock, valued at approximately $2,070,377.79. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Microsemi Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 8,422,882 shares of the company’s stock valued at $275,260,000 after buying an additional 315,481 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Microsemi Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 5,994,025 shares of the company’s stock valued at $195,885,000 after buying an additional 318,543 shares in the last quarter. Boston Partners boosted its stake in shares of Microsemi Corp. by 6.5% in the second quarter. Boston Partners now owns 5,990,427 shares of the company’s stock valued at $195,768,000 after buying an additional 364,661 shares in the last quarter. State Street Corp boosted its stake in shares of Microsemi Corp. by 0.7% in the second quarter. State Street Corp now owns 3,815,707 shares of the company’s stock valued at $124,694,000 after buying an additional 28,162 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Microsemi Corp. by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,550,047 shares of the company’s stock valued at $116,016,000 after buying an additional 112,731 shares in the last quarter. Hedge funds and other institutional investors own 90.72% of the company’s stock.
Microsemi Corp. Company Profile
Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans.
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