Signature Estate & Investment Advisors LLC raised its position in shares of Microsemi Corporation (NASDAQ:MSCC) by 17.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,229 shares of the semiconductor company’s stock after purchasing an additional 1,811 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Microsemi Corporation were worth $630,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of MSCC. Bank of New York Mellon Corp boosted its stake in Microsemi Corporation by 41.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,065,729 shares of the semiconductor company’s stock valued at $209,305,000 after purchasing an additional 1,196,836 shares during the period. Westfield Capital Management Co. LP boosted its stake in Microsemi Corporation by 85.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock valued at $79,881,000 after purchasing an additional 788,129 shares during the period. Royal Bank of Canada boosted its stake in Microsemi Corporation by 64.7% during the 2nd quarter. Royal Bank of Canada now owns 777,401 shares of the semiconductor company’s stock valued at $36,382,000 after purchasing an additional 305,447 shares during the period. Prudential Financial Inc. boosted its stake in Microsemi Corporation by 374.6% during the 2nd quarter. Prudential Financial Inc. now owns 364,655 shares of the semiconductor company’s stock valued at $17,066,000 after purchasing an additional 287,815 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Microsemi Corporation during the 3rd quarter valued at about $13,462,000. 99.84% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Paul H. Pickle sold 69,482 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $53.71, for a total transaction of $3,731,878.22. Following the completion of the sale, the chief operating officer now directly owns 88,512 shares of the company’s stock, valued at approximately $4,753,979.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Frederick C. Goerner sold 1,500 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $50.12, for a total transaction of $75,180.00. Following the completion of the sale, the vice president now directly owns 60,436 shares of the company’s stock, valued at $3,029,052.32. The disclosure for this sale can be found here. Insiders sold 231,467 shares of company stock valued at $12,340,556 over the last three months. Insiders own 0.57% of the company’s stock.
Microsemi Corporation (MSCC) remained flat at $$52.62 during mid-day trading on Tuesday. 824,100 shares of the company traded hands, compared to its average volume of 993,018. Microsemi Corporation has a 12-month low of $46.08 and a 12-month high of $57.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.29. The firm has a market cap of $6,087.30, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.16.
Microsemi Corporation (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.01. The firm had revenue of $475.30 million for the quarter, compared to analyst estimates of $474.97 million. Microsemi Corporation had a net margin of 9.73% and a return on equity of 20.82%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. equities research analysts predict that Microsemi Corporation will post 3.62 EPS for the current fiscal year.
Microsemi Corporation announced that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 43% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts have issued reports on MSCC shares. BMO Capital Markets reissued a “buy” rating and set a $62.00 target price on shares of Microsemi Corporation in a research note on Thursday, July 20th. KeyCorp started coverage on shares of Microsemi Corporation in a research note on Monday, July 24th. They issued an “overweight” rating and a $61.00 price target for the company. BidaskClub raised shares of Microsemi Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Microsemi Corporation in a research note on Thursday, July 27th. Finally, Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Microsemi Corporation currently has an average rating of “Buy” and a consensus target price of $61.11.
About Microsemi Corporation
Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets.
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