Insider Selling: Microsemi Corp. (MSCC) COO Sells 24,968 Shares of Stock
Microsemi Corp. (NASDAQ:MSCC) COO Paul H. Pickle sold 24,968 shares of the stock in a transaction on Friday, October 7th. The stock was sold at an average price of $41.95, for a total transaction of $1,047,407.60. Following the sale, the chief operating officer now owns 51,541 shares of the company’s stock, valued at approximately $2,162,144.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The stock’s market cap is $4.71 billion. The stock has a 50 day moving average of $40.63 and a 200-day moving average of $36.53. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business earned $431.40 million during 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 revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Analysts anticipate that Microsemi Corp. will post $3.02 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in Microsemi Corp. by 7.6% in the first quarter. Aperio Group LLC now owns 23,452 shares of the company’s stock valued at $898,000 after buying an additional 1,655 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its stake in Microsemi Corp. by 0.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 31,461 shares of the company’s stock valued at $1,205,000 after buying an additional 161 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Microsemi Corp. by 1.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,917 shares of the company’s stock valued at $840,000 after buying an additional 275 shares during the last quarter. Ngam Advisors L.P. raised its stake in Microsemi Corp. by 2.3% in the first quarter. Ngam Advisors L.P. now owns 128,696 shares of the company’s stock valued at $4,930,000 after buying an additional 2,940 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Microsemi Corp. by 93.9% in the first quarter. TIAA CREF Investment Management LLC now owns 878,960 shares of the company’s stock valued at $33,673,000 after buying an additional 425,643 shares during the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
A number of brokerages recently weighed in on MSCC. Zacks Investment Research cut shares of Microsemi Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. Susquehanna initiated coverage on shares of Microsemi Corp. in a research note on Tuesday, September 20th. They set a “positive” rating and a $50.00 price target for the company. Macquarie restated a “positive” rating on shares of Microsemi Corp. in a research note on Thursday, September 22nd. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price (up previously from $46.00) on shares of Microsemi Corp. in a research note on Friday, September 9th. Finally, Stifel Nicolaus raised their target price on shares of Microsemi Corp. from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $46.79.
About Microsemi Corp.
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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