Microsemi Corp. (MSCC) SVP Sells $611,719.67 in Stock
Microsemi Corp. (NASDAQ:MSCC) SVP David Goren sold 14,603 shares of Microsemi Corp. stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $41.89, for a total transaction of $611,719.67. Following the completion of the sale, the senior vice president now directly owns 30,524 shares in the company, valued at approximately $1,278,650.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64. The stock’s 50 day moving average is $40.63 and its 200-day moving average is $36.53. The stock’s market capitalization is $4.71 billion.
Microsemi Corp. (NASDAQ:MSCC) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, equities research analysts expect that Microsemi Corp. will post $3.02 EPS for the current year.
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Several analysts recently commented on the stock. Zacks Investment Research cut shares of Microsemi Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. Macquarie reiterated a “positive” rating on shares of Microsemi Corp. in a research note on Thursday, September 22nd. Susquehanna assumed coverage on shares of 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 reiterated 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 reiterated a “buy” rating and issued a $46.00 price objective on shares of Microsemi Corp. in a research note on Monday, September 12th. 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 assigned a strong buy rating to the stock. Microsemi Corp. presently has a consensus rating of “Buy” and an average price target of $46.79.
Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Microsemi Corp. by 4.1% in the first quarter. Wellington Management Group LLP now owns 2,061,318 shares of the company’s stock valued at $78,969,000 after buying an additional 82,103 shares in the last quarter. 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 in the last quarter. Geode Capital Management LLC raised its position in Microsemi Corp. by 17.8% in the first quarter. Geode Capital Management LLC now owns 816,236 shares of the company’s stock valued at $31,270,000 after buying an additional 123,471 shares in the last quarter. Riverhead Capital Management LLC raised its position in Microsemi Corp. by 8.6% in the first quarter. Riverhead Capital Management LLC now owns 23,030 shares of the company’s stock valued at $882,000 after buying an additional 1,830 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Microsemi Corp. by 25.2% in the first quarter. Royal Bank of Canada now owns 1,159,791 shares of the company’s stock valued at $44,431,000 after buying an additional 233,279 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.
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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