John W. Hohener Sells 11,638 Shares of Microsemi Corporation (MSCC) Stock
Microsemi Corporation (NASDAQ:MSCC) CFO John W. Hohener sold 11,638 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $52.49, for a total value of $610,878.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Microsemi Corporation (MSCC) traded down 0.21% on Tuesday, reaching $52.27. The company had a trading volume of 390,650 shares. The company has a market capitalization of $6.05 billion, a PE ratio of 52.90 and a beta of 1.18. The company’s 50-day moving average is $50.10 and its 200-day moving average is $49.82. Microsemi Corporation has a 52-week low of $37.11 and a 52-week high of $57.97.
Microsemi Corporation (NASDAQ:MSCC) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.18. The company had revenue of $458.10 million for the quarter, compared to the consensus estimate of $457.87 million. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. Microsemi Corporation’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. Equities analysts anticipate that Microsemi Corporation will post $3.84 EPS for the current fiscal year.
Microsemi Corporation announced that its board has approved a share buyback program on Thursday, July 27th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 43% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Microsemi Corporation by 24,626.0% during the first quarter. BlackRock Inc. now owns 12,207,460 shares of the semiconductor company’s stock worth $629,050,000 after purchasing an additional 12,158,089 shares in the last quarter. Vanguard Group Inc. boosted its position in Microsemi Corporation by 5.9% during the first quarter. Vanguard Group Inc. now owns 9,717,771 shares of the semiconductor company’s stock worth $500,758,000 after purchasing an additional 542,772 shares in the last quarter. State Street Corp boosted its position in Microsemi Corporation by 3.4% during the first quarter. State Street Corp now owns 3,816,410 shares of the semiconductor company’s stock worth $196,656,000 after purchasing an additional 127,094 shares in the last quarter. FMR LLC boosted its position in Microsemi Corporation by 9.1% during the second quarter. FMR LLC now owns 1,978,400 shares of the semiconductor company’s stock worth $92,589,000 after purchasing an additional 165,000 shares in the last quarter. Finally, Federated Investors Inc. PA raised its holdings in shares of Microsemi Corporation by 4.0% in the second quarter. Federated Investors Inc. PA now owns 1,849,658 shares of the semiconductor company’s stock worth $86,563,000 after acquiring an additional 71,131 shares during the last quarter. Institutional investors own 98.47% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research downgraded Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Royal Bank Of Canada downgraded Microsemi Corporation from a “top pick” rating to an “outperform” rating and reduced their target price for the stock from $64.00 to $58.00 in a research note on Wednesday, June 14th. Susquehanna Bancshares Inc set a $70.00 target price on Microsemi Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. KeyCorp assumed coverage on Microsemi Corporation in a research note on Monday, July 24th. They set an “overweight” rating and a $61.00 target price for the company. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $62.00 target price on shares of Microsemi Corporation in a research note on Thursday, July 20th. One 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’s stock. The company presently has an average rating of “Buy” and an average target price of $58.00.
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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