Microsemi Corp. (MSCC) Coverage Initiated by Analysts at Susquehanna
Susquehanna assumed coverage on shares of Microsemi Corp. (NASDAQ:MSCC) in a research note issued on Tuesday. The brokerage set a “positive” rating on the stock.
Several other research analysts have also recently commented on MSCC. Zacks Investment Research upgraded shares of Microsemi Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Drexel Hamilton cut shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. RBC Capital Markets restated a “top pick” rating and set a $48.00 target price on shares of Microsemi Corp. in a report on Thursday, September 15th. Mizuho increased their target price on shares of Microsemi Corp. from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Microsemi Corp. in a report on Saturday, June 25th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $45.69.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 41.35 on Tuesday. The firm’s market capitalization is $4.68 billion. The firm has a 50-day moving average of $39.77 and a 200 day moving average of $35.96. Microsemi Corp. has a 52-week low of $28.91 and a 52-week high of $42.11.
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Microsemi Corp. (NASDAQ:MSCC) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The company earned $431.40 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.68 earnings per share. Analysts predict that Microsemi Corp. will post $3.02 EPS for the current year.
In related news, VP Frederick C. Goerner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $39.39, for a total transaction of $157,560.00. Following the transaction, the vice president now directly owns 52,561 shares of the company’s stock, valued at $2,070,377.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul F. Folino sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $39.80, for a total transaction of $59,700.00. Following the transaction, the director now directly owns 1,070 shares in the company, valued at $42,586. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LLC raised its position in Microsemi Corp. by 119.5% in the second quarter. Seven Eight Capital LLC now owns 3,122 shares of the company’s stock worth $102,000 after buying an additional 1,700 shares in the last quarter. FTB Advisors Inc. raised its position in Microsemi Corp. by 347.6% in the second quarter. FTB Advisors Inc. now owns 4,391 shares of the company’s stock worth $143,000 after buying an additional 3,410 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Microsemi Corp. during the second quarter worth approximately $152,000. BB&T Corp purchased a new stake in shares of Microsemi Corp. during the second quarter worth about $217,000. Finally, LS Investment Advisors LLC increased its stake in shares of Microsemi Corp. by 70.9% in the second quarter. LS Investment Advisors LLC now owns 6,800 shares of the company’s stock worth $222,000 after buying an additional 2,820 shares during the last quarter. 90.72% of the stock is currently owned by institutional investors and hedge funds.
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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