Microsemi Corp. (MSCC) Chairman James J. Peterson Sells 54,717 Shares
Microsemi Corp. (NASDAQ:MSCC) Chairman James J. Peterson sold 54,717 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $41.96, for a total value of $2,295,925.32. Following the transaction, the chairman now directly owns 196,551 shares in the company, valued at $8,247,279.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The firm’s 50-day moving average price is $40.63 and its 200 day moving average price is $36.53. The company’s market capitalization is $4.71 billion. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last released its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Microsemi Corp. had a negative net margin of 3.12% and a positive return on equity of 17.32%. The firm earned $431.40 million during the quarter, compared to analyst estimates of $430.22 million. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 36.0% on a year-over-year basis. On average, equities research analysts expect that Microsemi Corp. will post $3.02 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in MSCC. State Street Corp raised its position in Microsemi Corp. by 72.2% in the first quarter. State Street Corp now owns 3,787,545 shares of the company’s stock valued at $145,102,000 after buying an additional 1,587,798 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Microsemi Corp. by 109.0% in the second quarter. Westfield Capital Management Co. LP now owns 1,771,088 shares of the company’s stock valued at $57,879,000 after buying an additional 923,781 shares during the last quarter. Teachers Advisors Inc. raised its position in Microsemi Corp. by 646.6% in the first quarter. Teachers Advisors Inc. now owns 1,036,564 shares of the company’s stock valued at $39,711,000 after buying an additional 897,735 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Microsemi Corp. by 27.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,437,316 shares of the company’s stock valued at $131,684,000 after buying an additional 745,087 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Microsemi Corp. during the second quarter valued at about $19,098,000. Hedge funds and other institutional investors own 90.57% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research downgraded Microsemi Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. Macquarie reissued a “positive” rating on shares of Microsemi Corp. in a research note on Thursday, September 22nd. Susquehanna assumed coverage on Microsemi Corp. in a research note on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price objective for the company. RBC Capital Markets reissued a “top pick” rating and issued a $48.00 price objective on shares of Microsemi Corp. in a research note on Thursday, September 15th. Finally, Mizuho reissued a “buy” rating and issued a $46.00 price objective on shares of Microsemi Corp. in a research note on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price 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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