Analysts Expect Microsemi Co. (MSCC) Will Post Earnings of $1.01 Per Share

Wall Street analysts expect that Microsemi Co. (NASDAQ:MSCC) will report earnings of $1.01 per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Microsemi’s earnings, with estimates ranging from $1.01 to $1.02. Microsemi posted earnings of $0.86 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.4%. The business is expected to report its next quarterly earnings report after the market closes on Thursday, January 25th.

On average, analysts expect that Microsemi will report full year earnings of $4.32 per share for the current fiscal year, with EPS estimates ranging from $4.15 to $4.45. For the next financial year, analysts forecast that the business will report earnings of $4.63 per share, with EPS estimates ranging from $4.53 to $4.72. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Microsemi.

Microsemi (NASDAQ:MSCC) last posted its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $475.30 million during 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 company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share.

A number of brokerages have weighed in on MSCC. BidaskClub raised shares of Microsemi from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Piper Jaffray Companies began coverage on shares of Microsemi in a report on Monday, December 18th. They issued an “overweight” rating and a $60.00 price target for the company. Zacks Investment Research downgraded shares of Microsemi from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Oppenheimer reissued a “hold” rating on shares of Microsemi in a report on Friday, November 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $61.00 price target on shares of Microsemi in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.00.

Microsemi (NASDAQ:MSCC) traded up $3.38 during mid-day trading on Tuesday, reaching $62.35. 3,257,425 shares of the company traded hands, compared to its average volume of 1,101,307. Microsemi has a 1-year low of $46.08 and a 1-year high of $63.06. The company has a quick ratio of 1.29, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6,930.00, a P/E ratio of 41.57, a P/E/G ratio of 1.22 and a beta of 1.15.

In other Microsemi news, COO Paul H. Pickle sold 69,482 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $53.71, for a total transaction of $3,731,878.22. Following the sale, the chief operating officer now owns 88,512 shares in the company, valued at approximately $4,753,979.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Frederick C. Goerner sold 3,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $55.00, for a total value of $165,000.00. Following the sale, the vice president now owns 57,602 shares in the company, valued at approximately $3,168,110. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,464 shares of company stock worth $9,627,795. Corporate insiders own 0.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Scotia Capital Inc. raised its holdings in Microsemi by 3.1% during the 2nd quarter. Scotia Capital Inc. now owns 28,970 shares of the semiconductor company’s stock worth $1,356,000 after buying an additional 874 shares during the period. Signature Estate & Investment Advisors LLC raised its holdings in Microsemi by 10.2% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 10,418 shares of the semiconductor company’s stock worth $488,000 after buying an additional 962 shares during the period. Aperio Group LLC raised its holdings in Microsemi by 3.3% during the 3rd quarter. Aperio Group LLC now owns 33,764 shares of the semiconductor company’s stock worth $1,738,000 after buying an additional 1,064 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of Microsemi by 1.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 93,348 shares of the semiconductor company’s stock valued at $4,806,000 after purchasing an additional 1,493 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Microsemi by 1.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 155,148 shares of the semiconductor company’s stock valued at $7,987,000 after purchasing an additional 1,590 shares during the period. Hedge funds and other institutional investors own 97.27% 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.

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