Insider Selling: Microsemi Corporation (MSCC) VP Sells 5,000 Shares of Stock
Microsemi Corporation (NASDAQ:MSCC) VP Frederick C. Goerner sold 5,000 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $52.33, for a total transaction of $261,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Microsemi Corporation (MSCC) traded down 0.21% during mid-day trading on Tuesday, hitting $52.27. 390,650 shares of the 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 company has a market cap of $6.05 billion, a P/E ratio of 52.90 and a beta of 1.18. Microsemi Corporation has a 52-week low of $37.11 and a 52-week high of $57.97.
Microsemi Corporation (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.81 by $0.18. The company had revenue of $458.10 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.73 EPS. Equities research analysts anticipate that Microsemi Corporation will post $3.84 earnings per share for the current fiscal year.
Microsemi Corporation announced that its Board of Directors has approved a stock repurchase program on Thursday, July 27th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 43% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
ILLEGAL ACTIVITY WARNING: “Insider Selling: Microsemi Corporation (MSCC) VP Sells 5,000 Shares of Stock” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/10/10/insider-selling-microsemi-corporation-mscc-vp-sells-5000-shares-of-stock.html.
Several research firms have weighed in on MSCC. Zacks Investment Research downgraded shares of Microsemi Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Royal Bank Of Canada downgraded shares of Microsemi Corporation from a “top pick” rating to an “outperform” rating and decreased their price target for the stock from $64.00 to $58.00 in a research report on Wednesday, June 14th. Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. KeyCorp began coverage on shares of Microsemi Corporation in a research report on Monday, July 24th. They issued an “overweight” rating and a $61.00 price target on the stock. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $62.00 price target on shares of Microsemi Corporation in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $58.00.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new stake in Microsemi Corporation in the 1st quarter worth $113,000. Dubuque Bank & Trust Co. increased its holdings 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 acquiring an additional 93 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Microsemi Corporation in the 2nd quarter worth $219,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 acquiring an additional 395 shares in the last quarter. Finally, BB&T Securities LLC increased its holdings 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 acquiring an additional 610 shares in the last quarter. 98.47% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Microsemi Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsemi Corporation and related companies with MarketBeat.com's FREE daily email newsletter.