Microsemi Corp. (NASDAQ:MSCC) Chairman James J. Peterson sold 12,935 shares of Microsemi Corp. stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $38.51, for a total value of $498,126.85. Following the completion of the sale, the chairman now owns 137,865 shares in the company, valued at $5,309,181.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Microsemi Corp. (NASDAQ:MSCC) traded down 0.03% during midday trading on Friday, reaching $38.01. The company’s stock had a trading volume of 839,942 shares. The stock’s 50-day moving average price is $40.41 and its 200-day moving average price is $36.58. The firm’s market capitalization is $4.30 billion. Microsemi Corp. has a 12 month low of $28.91 and a 12 month high of $42.64.
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, beating analysts’ consensus estimates of $0.72 by $0.01. The firm earned $431.40 million during the quarter, compared to analyst estimates of $430.22 million. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. Analysts predict that Microsemi Corp. will post $3.02 EPS for the current year.
Several equities analysts recently issued reports on MSCC shares. Zacks Investment Research raised Microsemi Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Macquarie reaffirmed a “positive” rating on shares of Microsemi Corp. in a report on Thursday, September 22nd. Drexel Hamilton cut Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. RBC Capital Markets reaffirmed a “top pick” rating and set a $48.00 price objective on shares of Microsemi Corp. in a report on Thursday, September 15th. Finally, Mizuho lifted their price objective on Microsemi Corp. from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $46.79.
Institutional investors have recently modified their holdings of the stock. Seven Eight Capital LLC raised its position in shares of Microsemi Corp. by 119.5% in the second quarter. Seven Eight Capital LLC now owns 3,122 shares of the company’s stock worth $102,000 after buying an additional 1,700 shares during the last quarter. FTB Advisors Inc. raised its position in shares of Microsemi Corp. by 347.6% in the second quarter. FTB Advisors Inc. now owns 4,391 shares of the company’s stock worth $143,000 after buying an additional 3,410 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Microsemi Corp. during the second quarter worth about $152,000. BB&T Corp purchased a new position in shares of Microsemi Corp. during the second quarter worth about $217,000. Finally, LS Investment Advisors LLC raised its position in shares of Microsemi Corp. by 70.9% in the second quarter. LS Investment Advisors LLC now owns 6,800 shares of the company’s stock worth $222,000 after buying an additional 2,820 shares during the last quarter.
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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