Microsemi Co. (MSCC) Expected to Post Earnings of $1.01 Per Share

Equities analysts expect Microsemi Co. (NASDAQ:MSCC) to announce earnings per share (EPS) of $1.01 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Microsemi’s earnings, with the lowest EPS estimate coming in at $1.00 and the highest estimate coming in at $1.02. Microsemi reported earnings of $0.91 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 11%. The firm is scheduled to report its next earnings results on Thursday, April 26th.

On average, analysts expect that Microsemi will report full year earnings of $4.33 per share for the current year, with EPS estimates ranging from $4.25 to $4.45. For the next financial year, analysts anticipate that the firm will post earnings of $4.77 per share, with EPS estimates ranging from $4.60 to $5.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Microsemi.

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Microsemi (NASDAQ:MSCC) last issued its earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. The firm had revenue of $468.70 million for the quarter, compared to analyst estimates of $460.17 million. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share.

Several analysts have issued reports on the company. BidaskClub upgraded Microsemi from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 27th. SunTrust Banks reiterated a “buy” rating and set a $71.00 price objective on shares of Microsemi in a research note on Friday, January 26th. Needham & Company LLC reiterated a “hold” rating on shares of Microsemi in a research note on Friday, March 2nd. Mizuho lowered Microsemi from a “buy” rating to a “neutral” rating and set a $68.78 price objective on the stock. in a research note on Monday, March 5th. Finally, Piper Jaffray lowered Microsemi from an “overweight” rating to a “neutral” rating in a research note on Tuesday, March 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.32.

Shares of MSCC traded down $0.20 during mid-day trading on Friday, hitting $64.46. The stock had a trading volume of 206,403 shares, compared to its average volume of 3,269,089. The firm has a market cap of $7,676.95, a PE ratio of 19.83, a PEG ratio of 1.40 and a beta of 1.18. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.55. Microsemi has a 52 week low of $46.08 and a 52 week high of $67.52.

In related news, SVP David Goren sold 2,090 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $66.43, for a total value of $138,838.70. Following the sale, the senior vice president now owns 10,539 shares in the company, valued at approximately $700,105.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul F. Folino sold 4,500 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $67.27, for a total value of $302,715.00. Following the sale, the director now owns 1,070 shares in the company, valued at $71,978.90. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in MSCC. BlackRock Inc. raised its holdings in Microsemi by 6.7% during the fourth quarter. BlackRock Inc. now owns 10,817,946 shares of the semiconductor company’s stock valued at $558,748,000 after acquiring an additional 680,797 shares during the period. Carillon Tower Advisers Inc. bought a new stake in Microsemi during the fourth quarter valued at about $23,035,000. Teachers Advisors LLC grew its position in shares of Microsemi by 63.6% during the fourth quarter. Teachers Advisors LLC now owns 959,792 shares of the semiconductor company’s stock valued at $49,573,000 after purchasing an additional 373,001 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Microsemi by 34.2% during the fourth quarter. TIAA CREF Investment Management LLC now owns 1,331,576 shares of the semiconductor company’s stock valued at $68,776,000 after purchasing an additional 339,606 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its position in shares of Microsemi by 35.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,005,650 shares of the semiconductor company’s stock valued at $51,942,000 after purchasing an additional 261,550 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

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Microsemi Company Profile

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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