Microsemi Corp. (NASDAQ:MSCC) CFO John W. Hohener sold 4,823 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $38.51, for a total value of $185,733.73. Following the transaction, the chief financial officer now directly owns 40,181 shares in the company, valued at $1,547,370.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 37.73 on Tuesday. The company’s 50-day moving average price is $40.36 and its 200-day moving average price is $36.55. The stock’s market cap is $4.27 billion. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last announced its quarterly earnings data 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. The business earned $431.40 million during 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%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. Equities research analysts anticipate that Microsemi Corp. will post $3.02 earnings per share for the current year.
MSCC has been the subject of several recent research reports. Susquehanna initiated coverage on Microsemi Corp. in a report on Tuesday, September 20th. They set a “positive” rating and a $50.00 price target for the company. Stifel Nicolaus upped their price target on Microsemi Corp. from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, September 9th. RBC Capital Markets reiterated a “top pick” rating and set a $48.00 price target (up previously from $47.00) on shares of Microsemi Corp. in a report on Sunday, July 31st. BMO Capital Markets reiterated a “buy” rating and set a $50.00 price target (up previously from $45.00) on shares of Microsemi Corp. in a 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 equities 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 given a strong buy rating to the company. Microsemi Corp. has an average rating of “Buy” and a consensus target price of $46.79.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. CrestPoint Capital Management LLC bought a new position in shares of Microsemi Corp. during the third quarter worth about $369,000. First National Bank of Omaha boosted its position in shares of Microsemi Corp. by 12.5% in the third quarter. First National Bank of Omaha now owns 24,525 shares of the company’s stock worth $1,030,000 after buying an additional 2,725 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its position in shares of Microsemi Corp. by 0.8% in the third quarter. Eagle Boston Investment Management Inc. now owns 346,094 shares of the company’s stock worth $14,529,000 after buying an additional 2,679 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Microsemi Corp. by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 38,805 shares of the company’s stock worth $1,629,000 after buying an additional 779 shares during the last quarter. Finally, Telemus Capital LLC bought a new position in shares of Microsemi Corp. during the third quarter worth about $230,000.
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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