Microsemi Corporation (NASDAQ:MSCC) SVP David Goren sold 8,329 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $52.54, for a total transaction of $437,605.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Microsemi Corporation (MSCC) traded down 0.21% during mid-day trading on Tuesday, hitting $52.27. 390,650 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $50.10 and its 200-day moving average price is $49.82. The stock has a market cap of $6.05 billion, a PE ratio of 52.90 and a beta of 1.18. Microsemi Corporation has a 12 month low of $37.11 and a 12 month high of $57.97.

Microsemi Corporation (NASDAQ:MSCC) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.18. The company had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $457.87 million. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. Equities analysts expect that Microsemi Corporation will post $3.84 EPS for the current fiscal year.

Microsemi Corporation declared that its Board of Directors has approved a share repurchase program on Thursday, July 27th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 43% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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Several research analysts have commented on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $54.00 to $53.00 in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, September 12th. KeyCorp assumed coverage on shares of Microsemi Corporation in a research report on Monday, July 24th. They set an “overweight” rating and a $61.00 price objective for the company. BidaskClub upgraded shares of Microsemi Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Microsemi Corporation in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $58.00.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new position in Microsemi Corporation in the 1st quarter worth $113,000. Dubuque Bank & Trust Co. raised its position in Microsemi Corporation by 3.1% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock worth $144,000 after purchasing an additional 93 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Microsemi Corporation in the 2nd quarter worth $219,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Microsemi Corporation by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock worth $224,000 after purchasing an additional 395 shares during the period. Finally, BB&T Securities LLC raised its position in Microsemi Corporation by 13.4% in the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 610 shares during the period. Institutional investors own 98.47% of the company’s stock.

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.

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

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