Microsemi Co. (NASDAQ:MSCC) Chairman James J. Peterson sold 8,800 shares of Microsemi stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $47.93, for a total value of $421,784.00. Following the completion of the transaction, the chairman now owns 175,781 shares of the company’s stock, valued at approximately $8,425,183.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Microsemi Co. (NASDAQ:MSCC) traded up 2.56% during midday trading on Wednesday, hitting $49.76. 955,162 shares of the stock were exchanged. Microsemi Co. has a 12 month low of $29.68 and a 12 month high of $57.97. The stock has a 50 day moving average price of $48.81 and a 200-day moving average price of $52.51. The company has a market cap of $5.75 billion, a PE ratio of 26.31 and a beta of 1.33.

Microsemi (NASDAQ:MSCC) last posted its earnings results on Thursday, April 27th. The semiconductor company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.18. The firm had revenue of $442.90 million for the quarter, compared to the consensus estimate of $439.79 million. Microsemi had a negative net margin of 1.61% and a positive return on equity of 17.36%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. On average, analysts predict that Microsemi Co. will post $3.82 EPS for the current year.

Insider Buying and Selling by Quarter for Microsemi (NASDAQ:MSCC)

WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/05/24/microsemi-co-mscc-chairman-james-j-peterson-sells-8800-shares-3.html.

Several analysts have issued reports on MSCC shares. Needham & Company LLC reissued a “buy” rating and issued a $63.00 price objective on shares of Microsemi in a research note on Thursday, February 9th. Zacks Investment Research downgraded shares of Microsemi from a “hold” rating to a “sell” rating in a research note on Tuesday, March 28th. Mizuho raised their price objective on shares of Microsemi from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, January 27th. TheStreet downgraded shares of Microsemi from a “b” rating to a “c+” rating in a research note on Thursday, January 26th. Finally, Stifel Nicolaus raised their price objective on shares of Microsemi from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $55.73.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Microsemi by 24,626.0% in the first quarter. BlackRock Inc. now owns 12,207,460 shares of the semiconductor company’s stock worth $629,050,000 after buying an additional 12,158,089 shares during the period. Vanguard Group Inc. increased its position in Microsemi by 5.9% in the first quarter. Vanguard Group Inc. now owns 9,717,771 shares of the semiconductor company’s stock worth $500,758,000 after buying an additional 542,772 shares during the period. State Street Corp increased its position in Microsemi by 3.4% in the first quarter. State Street Corp now owns 3,816,410 shares of the semiconductor company’s stock worth $196,656,000 after buying an additional 127,094 shares during the period. Bank of New York Mellon Corp increased its position in Microsemi by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 3,021,324 shares of the semiconductor company’s stock worth $155,690,000 after buying an additional 370,360 shares during the period. Finally, Wells Fargo & Company MN increased its position in Microsemi by 46.8% in the first quarter. Wells Fargo & Company MN now owns 2,648,870 shares of the semiconductor company’s stock worth $136,496,000 after buying an additional 844,586 shares during the period.

About Microsemi

Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets.

12 Month Chart for NASDAQ:MSCC

Receive News & Ratings for Microsemi Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsemi Co. and related companies with MarketBeat.com's FREE daily email newsletter.