Microsemi Corporation (NASDAQ:MSCC) was the target of unusually large options trading activity on Tuesday. Traders bought 1,369 put options on the stock. This is an increase of approximately 1,050% compared to the typical daily volume of 119 put options.

In other news, COO Paul H. Pickle sold 69,482 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $53.71, for a total value of $3,731,878.22. Following the transaction, the chief operating officer now owns 88,512 shares in the company, valued at $4,753,979.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Robert Anderson sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 14,113 shares in the company, valued at approximately $721,456.56. The disclosure for this sale can be found here. Insiders have sold 234,553 shares of company stock worth $12,513,867 in the last three months. 0.57% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. BT Investment Management Ltd bought a new position in Microsemi during the second quarter valued at approximately $979,000. Legal & General Group Plc lifted its position in Microsemi by 23.7% during the second quarter. Legal & General Group Plc now owns 95,604 shares of the semiconductor company’s stock valued at $4,474,000 after purchasing an additional 18,321 shares during the period. Cetera Investment Advisers bought a new position in Microsemi during the second quarter valued at approximately $280,000. State Board of Administration of Florida Retirement System lifted its position in Microsemi by 138.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 153,558 shares of the semiconductor company’s stock valued at $7,187,000 after purchasing an additional 89,140 shares during the period. Finally, Prudential Financial Inc. lifted its position in Microsemi by 374.6% during the second quarter. Prudential Financial Inc. now owns 364,655 shares of the semiconductor company’s stock valued at $17,066,000 after purchasing an additional 287,815 shares during the period. Institutional investors own 97.54% of the company’s stock.

MSCC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Microsemi from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, August 29th. KeyCorp reiterated a “buy” rating and issued a $62.00 target price on shares of Microsemi in a research note on Friday, October 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $61.00 target price on shares of Microsemi in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $61.11.

Microsemi (MSCC) opened at $51.83 on Friday. The firm has a market cap of $6,040.81, a P/E ratio of 15.43, a P/E/G ratio of 1.15 and a beta of 1.14. Microsemi has a 52-week low of $46.08 and a 52-week high of $57.97. The company has a current ratio of 1.92, a quick ratio of 1.29 and a debt-to-equity ratio of 0.87.

Microsemi (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.01. The company had revenue of $475.30 million for the quarter, compared to the consensus estimate of $474.97 million. Microsemi had a net margin of 9.73% and a return on equity of 20.82%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. equities analysts expect that Microsemi will post 3.57 EPS for the current year.

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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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