Microsemi (MSCC) Lowered to “Sell” at BidaskClub
Microsemi (NASDAQ:MSCC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Microsemi from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Friday, August 18th. KeyCorp restated a “buy” rating and set a $62.00 price objective on shares of Microsemi in a research note on Friday, October 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $61.00 price objective on shares of Microsemi in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $61.11.
Microsemi (NASDAQ MSCC) traded up $0.73 during trading hours on Thursday, hitting $51.83. The company had a trading volume of 618,239 shares, compared to its average volume of 975,493. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.29 and a current ratio of 1.92. Microsemi has a fifty-two week low of $46.08 and a fifty-two week high of $57.97. The firm has a market capitalization of $6,040.81, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14.
In other news, Director Thomas Robert Anderson sold 1,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $51.12, for a total transaction of $51,120.00. Following the completion of the sale, the director now owns 14,113 shares in the company, valued at approximately $721,456.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Paul H. Pickle sold 14,746 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $52.48, for a total value of $773,870.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 234,553 shares of company stock valued at $12,513,867. 0.57% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in shares of Microsemi in the third quarter valued at $203,000. Coldstream Capital Management Inc. purchased a new stake in shares of Microsemi in the third quarter valued at $211,000. BTC Capital Management Inc. purchased a new stake in shares of Microsemi in the third quarter valued at $214,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Microsemi by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 395 shares in the last quarter. Finally, BB&T Securities LLC lifted its holdings in shares of Microsemi by 13.4% in the second quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 610 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.
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Microsemi 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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