Shares of Microsemi Corporation (NASDAQ:MSCC) have been assigned a consensus rating of “Buy” from the sixteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $59.10.

Several equities research analysts recently commented on MSCC shares. Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and reduced their price target for the company from $54.00 to $53.00 in a research report on Wednesday, July 5th. BidaskClub upgraded shares of Microsemi Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. BMO Capital Markets restated a “buy” rating and issued a $62.00 price target on shares of Microsemi Corporation in a research report on Thursday, July 20th. KeyCorp started 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 for the company. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Microsemi Corporation in a research report on Thursday, July 27th.

WARNING: This piece was originally reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/02/microsemi-corporation-mscc-receives-consensus-recommendation-of-buy-from-analysts.html.

In other Microsemi Corporation news, SVP David Goren sold 3,452 shares of the stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $52.26, for a total value of $180,401.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frederick C. Goerner sold 5,167 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $51.72, for a total transaction of $267,237.24. Following the completion of the sale, the vice president now owns 65,769 shares of the company’s stock, valued at approximately $3,401,572.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,057 shares of company stock valued at $3,446,419. Insiders own 0.57% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its holdings in shares of Microsemi Corporation by 0.8% during the 3rd quarter. Boston Partners now owns 3,000,413 shares of the semiconductor company’s stock valued at $154,461,000 after purchasing an additional 24,911 shares in the last quarter. FMR LLC raised its holdings in shares of Microsemi Corporation by 9.1% during the 2nd quarter. FMR LLC now owns 1,978,400 shares of the semiconductor company’s stock valued at $92,589,000 after purchasing an additional 165,000 shares in the last quarter. Federated Investors Inc. PA raised its holdings in shares of Microsemi Corporation by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 1,849,658 shares of the semiconductor company’s stock valued at $86,563,000 after purchasing an additional 71,131 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Microsemi Corporation by 85.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock valued at $79,881,000 after purchasing an additional 788,129 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Microsemi Corporation by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,280,118 shares of the semiconductor company’s stock valued at $59,910,000 after purchasing an additional 4,808 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Microsemi Corporation announced that its board has initiated a share 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 stock through open market purchases. Stock repurchase programs are often an indication 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.

Analyst Recommendations for Microsemi Corporation (NASDAQ:MSCC)

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.