Microsemi (MSCC) Research Coverage Started at Piper Jaffray Companies

Equities research analysts at Piper Jaffray Companies began coverage on shares of Microsemi (NASDAQ:MSCC) in a report issued on Monday, The Fly reports. The brokerage set an “overweight” rating on the semiconductor company’s stock.

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

Shares of Microsemi (NASDAQ MSCC) traded up $1.75 during trading hours on Monday, hitting $53.46. The stock had a trading volume of 787,417 shares, compared to its average volume of 973,915. Microsemi has a 1 year low of $46.08 and a 1 year high of $57.97. The stock has a market capitalization of $6,080.79, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.16 and a beta of 1.14. 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 (NASDAQ:MSCC) last announced its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $475.30 million during the quarter, compared to analysts’ expectations of $474.97 million. Microsemi had a return on equity of 20.82% and a net margin of 9.73%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. research analysts expect that Microsemi will post 3.57 EPS for the current fiscal year.

In other news, CFO John W. Hohener sold 11,638 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Paul H. Pickle sold 14,746 shares of the business’s stock in a transaction that occurred 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 quarter, insiders have sold 238,521 shares of company stock valued at $12,718,259. 0.57% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its position in shares of Microsemi by 1.0% in the second quarter. Pacer Advisors Inc. now owns 14,718 shares of the semiconductor company’s stock valued at $689,000 after buying an additional 141 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Microsemi by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 9,184 shares of the semiconductor company’s stock valued at $430,000 after buying an additional 145 shares in the last quarter. Campbell Newman Asset Management Inc. increased its position in shares of Microsemi by 4.7% in the second quarter. Campbell Newman Asset Management Inc. now owns 6,234 shares of the semiconductor company’s stock valued at $292,000 after buying an additional 281 shares in the last quarter. Reliant Investment Management LLC increased its position in shares of Microsemi by 0.5% in the second quarter. Reliant Investment Management LLC now owns 61,075 shares of the semiconductor company’s stock valued at $2,858,000 after buying an additional 325 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 buying an additional 395 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

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About Microsemi

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.

The Fly

Analyst Recommendations for Microsemi (NASDAQ:MSCC)

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