John W. Hohener Sells 20,403 Shares of Microsemi Corp. (MSCC) Stock
Microsemi Corp. (NASDAQ:MSCC) CFO John W. Hohener sold 20,403 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $41.95, for a total transaction of $855,905.85. Following the completion of the sale, the chief financial officer now directly owns 47,211 shares of the company’s stock, valued at $1,980,501.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The company has a 50-day moving average price of $40.63 and a 200-day moving average price of $36.53. The firm’s market cap is $4.71 billion. Microsemi Corp. has a 12-month low of $28.91 and a 12-month high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. The business had revenue of $431.40 million for the quarter, compared to analysts’ expectations of $430.22 million. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 earnings per share. On average, analysts predict that Microsemi Corp. will post $3.02 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. 1st Global Advisors Inc. boosted its position in Microsemi Corp. by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 9,239 shares of the company’s stock valued at $302,000 after buying an additional 36 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Microsemi Corp. by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,527 shares of the company’s stock worth $638,000 after buying an additional 137 shares during the period. Nisa Investment Advisors L.L.C. boosted its position in shares of 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 worth $1,205,000 after buying an additional 161 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of 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 worth $840,000 after buying an additional 275 shares during the period. Finally, Profund Advisors LLC boosted its position in shares of Microsemi Corp. by 2.6% in the second quarter. Profund Advisors LLC now owns 17,693 shares of the company’s stock worth $578,000 after buying an additional 453 shares during the period. Institutional investors and hedge funds own 90.57% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Mizuho reissued 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 restated a “buy” rating on shares of Microsemi Corp. in a report on Friday, July 29th. Zacks Investment Research downgraded Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. RBC Capital Markets restated a “top pick” rating and set a $48.00 price objective (up previously from $47.00) on shares of Microsemi Corp. in a report on Sunday, July 31st. Finally, Susquehanna assumed coverage on Microsemi Corp. in a report on Tuesday, September 20th. They set a “positive” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Microsemi Corp. has an average rating of “Buy” and a consensus target price of $46.79.
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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