Equities analysts expect Microsemi Corporation (NASDAQ:MSCC) to post $474.87 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Microsemi Corporation’s earnings. The lowest sales estimate is $474.00 million and the highest is $475.10 million. Microsemi Corporation reported sales of $450.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The company is expected to announce its next quarterly earnings report after the market closes on Thursday, November 9th.

On average, analysts expect that Microsemi Corporation will report full-year sales of $474.87 million for the current financial year. For the next year, analysts forecast that the company will post sales of $1.90 billion per share, with estimates ranging from $1.89 billion to $1.94 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Microsemi Corporation.

Microsemi Corporation (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.18. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. The business had revenue of $458.10 million during the quarter, compared to the consensus estimate of $457.87 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis.

A number of research analysts have recently commented on MSCC shares. Zacks Investment Research cut Microsemi Corporation from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Goldman Sachs Group, Inc. (The) raised Microsemi Corporation from a “neutral” rating to a “buy” rating and dropped their price target for the company from $54.00 to $53.00 in a research report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $62.00 price target on shares of Microsemi Corporation in a research report on Thursday, July 20th. BidaskClub raised Microsemi Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, KeyCorp started coverage on Microsemi Corporation in a research report on Monday, July 24th. They set an “overweight” rating and a $61.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.08.

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In other Microsemi Corporation news, VP Frederick C. Goerner sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $52.33, for a total value of $261,650.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Frederick C. Goerner sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $50.12, for a total value of $75,180.00. Following the completion of the transaction, the vice president now owns 60,436 shares in the company, valued at $3,029,052.32. The disclosure for this sale can be found here. Insiders sold a total of 70,707 shares of company stock worth $3,690,539 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MSCC. Oppenheimer Asset Management Inc. bought a new position in Microsemi Corporation in the 1st quarter worth about $113,000. Dubuque Bank & Trust Co. increased its stake 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 during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Microsemi Corporation in the 2nd quarter worth about $219,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 during the last quarter. Finally, BB&T Securities LLC increased its stake 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 during the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.

Shares of Microsemi Corporation (NASDAQ MSCC) traded up 0.27% during midday trading on Friday, reaching $52.62. The company’s stock had a trading volume of 41,723 shares. The firm has a 50-day moving average of $50.96 and a 200-day moving average of $49.93. Microsemi Corporation has a one year low of $41.14 and a one year high of $57.97. The stock has a market cap of $6.09 billion, a PE ratio of 53.26 and a beta of 1.18.

Microsemi Corporation declared that its Board of Directors has authorized 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 purchase up to 43% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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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Earnings History and Estimates for Microsemi Corporation (NASDAQ:MSCC)

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