Teacher Retirement System of Texas boosted its position in Microsemi Corp. (NASDAQ:MSCC) by 14.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,664 shares of the company’s stock after buying an additional 2,005 shares during the period. Teacher Retirement System of Texas’ holdings in Microsemi Corp. were worth $512,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSCC. Tributary Capital Management LLC boosted its stake in Microsemi Corp. by 11.8% in the second quarter. Tributary Capital Management LLC now owns 239,781 shares of the company’s stock worth $7,836,000 after buying an additional 25,365 shares during the last quarter. Rafferty Asset Management LLC increased its position in Microsemi Corp. by 59.7% in the second quarter. Rafferty Asset Management LLC now owns 16,053 shares of the company’s stock valued at $525,000 after buying an additional 5,998 shares during the last quarter. SECOR Capital Advisors LP purchased a new position in Microsemi Corp. during the second quarter valued at $607,000. Victory Capital Management Inc. increased its position in Microsemi Corp. by 9.1% in the second quarter. Victory Capital Management Inc. now owns 843,454 shares of the company’s stock valued at $27,564,000 after buying an additional 70,425 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Microsemi Corp. by 2.9% in the second quarter. UBS Asset Management Americas Inc. now owns 77,160 shares of the company’s stock valued at $2,521,000 after buying an additional 2,149 shares during the last quarter. Hedge funds and other institutional investors own 90.57% of the company’s stock.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded up 1.440% during trading on Wednesday, hitting $41.905. The stock had a trading volume of 164,217 shares. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.19. The stock’s 50-day moving average price is $40.42 and its 200 day moving average price is $36.42. The stock’s market cap is $4.74 billion.
Microsemi Corp. (NASDAQ:MSCC) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Microsemi Corp. had a negative net margin of 3.12% and a positive return on equity of 17.32%. The company earned $431.40 million during the quarter, compared to analysts’ expectations of $430.22 million. During the same period in the prior year, the company earned $0.68 earnings per share. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, equities analysts forecast that Microsemi Corp. will post $3.02 EPS for the current year.
MSCC has been the subject of several research analyst reports. Susquehanna began coverage on Microsemi Corp. in a research note on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price objective for the company. Stifel Nicolaus lifted their price objective on Microsemi Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, September 9th. RBC Capital Markets reaffirmed a “top pick” rating and issued a $48.00 price objective (up previously from $47.00) on shares of Microsemi Corp. in a research report on Sunday, July 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Microsemi Corp. in a research report on Friday, July 29th. Finally, TheStreet upgraded Microsemi Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.79.
In related news, Director Paul F. Folino sold 1,500 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $39.80, for a total value of $59,700.00. Following the completion of the sale, the director now owns 1,070 shares in the company, valued at $42,586. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Frederick C. Goerner sold 4,000 shares of the 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 completion of the sale, the vice president now owns 52,561 shares of the company’s stock, valued at approximately $2,070,377.79. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.
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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