Investors Buy Large Volume of Microsemi Put Options (MSCC)

Microsemi Co. (NASDAQ:MSCC) saw some unusual options trading activity on Friday. Stock investors bought 989 put options on the stock. This represents an increase of approximately 930% compared to the typical volume of 96 put options.

In other Microsemi news, CFO John W. Hohener sold 55,618 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $53.73, for a total transaction of $2,988,355.14. Following the completion of the sale, the chief financial officer now owns 80,133 shares in the company, valued at approximately $4,305,546.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Frederick C. Goerner sold 3,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $55.00, for a total transaction of $165,000.00. Following the sale, the vice president now owns 57,602 shares of the company’s stock, valued at approximately $3,168,110. The disclosure for this sale can be found here. Insiders have sold a total of 179,464 shares of company stock valued at $9,627,795 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Campbell Newman Asset Management Inc. increased its holdings in Microsemi by 21.2% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 8,660 shares of the semiconductor company’s stock worth $447,000 after purchasing an additional 1,516 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Microsemi by 9.8% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 801,122 shares of the semiconductor company’s stock worth $41,377,000 after purchasing an additional 71,367 shares in the last quarter. Peregrine Capital Management LLC increased its holdings in Microsemi by 0.6% during the 4th quarter. Peregrine Capital Management LLC now owns 706,966 shares of the semiconductor company’s stock worth $36,515,000 after purchasing an additional 4,510 shares in the last quarter. IFP Advisors Inc increased its holdings in Microsemi by 235.2% during the 4th quarter. IFP Advisors Inc now owns 2,212 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 1,552 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Microsemi by 399.3% during the 4th quarter. SG Americas Securities LLC now owns 27,918 shares of the semiconductor company’s stock worth $1,442,000 after purchasing an additional 22,327 shares in the last quarter. Hedge funds and other institutional investors own 97.27% of the company’s stock.

Shares of Microsemi (NASDAQ MSCC) opened at $62.77 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.29. Microsemi has a 1 year low of $46.08 and a 1 year high of $65.65. The company has a market cap of $7,500.00, a price-to-earnings ratio of 36.07, a P/E/G ratio of 1.30 and a beta of 1.15.

Microsemi (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.01. Microsemi had a net margin of 11.10% and a return on equity of 21.97%. The business had revenue of $468.70 million during the quarter, compared to analysts’ expectations of $460.17 million. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. research analysts expect that Microsemi will post 3.57 earnings per share for the current year.

Several brokerages have commented on MSCC. Royal Bank of Canada reiterated a “buy” rating and set a $66.00 target price on shares of Microsemi in a research report on Friday. SunTrust Banks reiterated a “buy” rating and set a $71.00 target price on shares of Microsemi in a research report on Friday. KeyCorp upped their price objective on shares of Microsemi to $70.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Microsemi in a research report on Thursday. Finally, BMO Capital Markets restated a “buy” rating and issued a $68.00 price objective on shares of Microsemi in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. Microsemi presently has a consensus rating of “Buy” and a consensus price target of $65.55.

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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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