Microsemi Corporation (MSCC) Given Consensus Rating of “Buy” by Brokerages
Microsemi Corporation (NASDAQ:MSCC) has been assigned a consensus rating of “Buy” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $56.27.
Several research analysts have recently issued reports on MSCC shares. Royal Bank Of Canada restated a “top pick” rating and issued a $64.00 target price on shares of Microsemi Corporation in a report on Monday, May 22nd. Needham & Company LLC decreased their price target on shares of Microsemi Corporation from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Raymond James Financial, Inc. started coverage on shares of Microsemi Corporation in a research report on Friday, June 16th. They set a “market perform” rating for the company. BidaskClub downgraded shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Finally, BMO Capital Markets restated a “buy” rating and set a $62.00 price objective on shares of Microsemi Corporation in a research report on Thursday, July 20th.
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Microsemi Corporation (NASDAQ MSCC) traded up 1.29% during trading on Tuesday, hitting $53.55. 1,222,750 shares of the stock were exchanged. Microsemi Corporation has a 12 month low of $34.98 and a 12 month high of $57.97. The stock has a market cap of $6.18 billion, a P/E ratio of 28.32 and a beta of 1.15. The stock’s 50 day moving average price is $49.33 and its 200 day moving average price is $51.08.
Microsemi Corporation (NASDAQ:MSCC) last announced its earnings results on Thursday, April 27th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. Microsemi Corporation had a net margin of 12.77% and a return on equity of 18.77%. The firm had revenue of $442.90 million for the quarter, compared to the consensus estimate of $439.79 million. During the same period in the prior year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that Microsemi Corporation will post $3.82 EPS for the current fiscal year.
In other Microsemi Corporation news, COO Paul H. Pickle sold 694 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $50.73, for a total transaction of $35,206.62. Following the sale, the chief operating officer now owns 39,679 shares in the company, valued at approximately $2,012,915.67. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman James J. Peterson sold 8,800 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $48.13, for a total value of $423,544.00. Following the sale, the chairman now owns 200,911 shares in the company, valued at approximately $9,669,846.43. The disclosure for this sale can be found here. Insiders sold 50,184 shares of company stock valued at $2,475,231 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MSCC. ING Groep NV acquired a new position in shares of Microsemi Corporation during the second quarter worth $657,000. Tributary Capital Management LLC boosted its stake in shares of Microsemi Corporation by 11.9% in the second quarter. Tributary Capital Management LLC now owns 218,176 shares of the semiconductor company’s stock valued at $10,211,000 after buying an additional 23,129 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Microsemi Corporation during the second quarter valued at approximately $219,000. Dubuque Bank & Trust Co. boosted its stake in shares of Microsemi Corporation by 3.1% in the second quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 93 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Microsemi Corporation by 10.3% in the second quarter. US Bancorp DE now owns 30,023 shares of the semiconductor company’s stock valued at $1,406,000 after buying an additional 2,811 shares during the last quarter.
Microsemi Corporation Company Profile
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.
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