FNY Managed Accounts LLC purchased a new position in Microsemi Corp. (NASDAQ:MSCC) during the second quarter, Holdings Channel reports. The firm purchased 12,690 shares of the company’s stock, valued at approximately $415,000.
Several other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of Microsemi Corp. by 72.2% in the first quarter. State Street Corp now owns 3,787,545 shares of the company’s stock worth $145,102,000 after buying an additional 1,587,798 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Microsemi Corp. by 646.6% in the first quarter. Teachers Advisors Inc. now owns 1,036,564 shares of the company’s stock worth $39,711,000 after buying an additional 897,735 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Microsemi Corp. by 27.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,437,316 shares of the company’s stock worth $131,684,000 after buying an additional 745,087 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Microsemi Corp. during the second quarter worth about $19,098,000. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Microsemi Corp. by 93.9% in the first quarter. TIAA CREF Investment Management LLC now owns 878,960 shares of the company’s stock worth $33,673,000 after buying an additional 425,643 shares in the last quarter. 90.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded up 1.62% on Tuesday, reaching $40.89. The company had a trading volume of 859,777 shares. Microsemi Corp. has a 12 month low of $28.91 and a 12 month high of $42.17. The firm’s 50 day moving average is $40.12 and its 200 day moving average is $36.18. The firm’s market capitalization is $4.63 billion.
Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The company had revenue of $431.40 million for the quarter, compared to analyst estimates of $430.22 million. Microsemi Corp. had a negative net margin of 3.12% and a positive return on equity of 17.32%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities research analysts expect that Microsemi Corp. will post $3.02 earnings per share for the current fiscal year.
MSCC has been the subject of a number of research analyst reports. TheStreet raised Microsemi Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Needham & Company LLC reaffirmed a “buy” rating on shares of Microsemi Corp. in a research report on Friday, July 29th. Mizuho lifted their target price on Microsemi Corp. from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Microsemi Corp. in a research report on Saturday, June 25th. Finally, Zacks Investment Research raised Microsemi Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.79.
In other Microsemi Corp. news, VP Frederick C. Goerner sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $39.39, for a total transaction of $157,560.00. Following the sale, the vice president now directly owns 52,561 shares in the company, valued at $2,070,377.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul F. Folino sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $39.80, for a total transaction of $59,700.00. Following the sale, the director now owns 1,070 shares in the company, valued at $42,586. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
About Microsemi Corp.
Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans.
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