Emerald Advisers Inc. PA cut its position in shares of Microsemi Corp. (NASDAQ:MSCC) by 0.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 638,363 shares of the company’s stock after selling 115 shares during the period. Microsemi Corp. makes up about 1.0% of Emerald Advisers Inc. PA’s holdings, making the stock its 23rd largest position. Emerald Advisers Inc. PA’s holdings in Microsemi Corp. were worth $20,862,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. 1st Global Advisors Inc. raised its position in Microsemi Corp. by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 9,239 shares of the company’s stock worth $302,000 after buying an additional 36 shares during the period. Nisa Investment Advisors L.L.C. raised its position in Microsemi Corp. by 0.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 31,461 shares of the company’s stock worth $1,205,000 after buying an additional 161 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in Microsemi Corp. by 1.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,917 shares of the company’s stock worth $840,000 after buying an additional 275 shares during the period. Chase Investment Counsel Corp raised its position in Microsemi Corp. by 2.2% in the second quarter. Chase Investment Counsel Corp now owns 38,284 shares of the company’s stock worth $1,251,000 after buying an additional 835 shares during the period. Finally, Retirement Systems of Alabama raised its position in Microsemi Corp. by 0.7% in the second quarter. Retirement Systems of Alabama now owns 145,903 shares of the company’s stock worth $4,768,000 after buying an additional 982 shares during the period. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 0.10% during mid-day trading on Tuesday, reaching $41.34. 338,907 shares of the company’s stock traded hands. The company’s market capitalization is $4.68 billion. Microsemi Corp. has a 1-year low of $28.91 and a 1-year high of $42.19. The firm has a 50-day moving average price of $40.38 and a 200-day moving average price of $36.39.
Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The firm had revenue of $431.40 million for the quarter, compared to analysts’ expectations of $430.22 million. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. Microsemi Corp.’s revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. On average, equities research analysts forecast that Microsemi Corp. will post $3.02 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Microsemi Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. Susquehanna assumed coverage on shares of Microsemi Corp. in a report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 target price on the stock. Macquarie restated a “positive” rating on shares of Microsemi Corp. in a report on Thursday, September 22nd. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price (up from $46.00) on shares of Microsemi Corp. in a report on Friday, September 9th. Finally, Stifel Nicolaus upped their target price on shares of Microsemi Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.79.
In other Microsemi Corp. news, Director Paul F. Folino sold 1,500 shares of the firm’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 completion of the sale, the director now directly owns 1,070 shares in the company, valued at approximately $42,586. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frederick C. Goerner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $39.39, for a total value of $157,560.00. Following the sale, the vice president now owns 52,561 shares of the company’s stock, valued at $2,070,377.79. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.
Microsemi Corp. Company Profile
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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