Stone Ridge Asset Management LLC bought a new position in shares of Microsemi Co. (NASDAQ:MSCC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 3,886 shares of the semiconductor company’s stock, valued at approximately $200,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Kendall Capital Management acquired a new stake in shares of Microsemi during the fourth quarter worth $262,000. Deutsche Bank AG grew its stake in shares of Microsemi by 12.6% during the fourth quarter. Deutsche Bank AG now owns 826,646 shares of the semiconductor company’s stock worth $42,693,000 after purchasing an additional 92,357 shares during the period. Advisor Group Inc. grew its stake in shares of Microsemi by 92.7% during the fourth quarter. Advisor Group Inc. now owns 2,226 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 1,071 shares during the period. TimesSquare Capital Management LLC grew its stake 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 worth $51,942,000 after purchasing an additional 261,550 shares during the period. Finally, Thrivent Financial For Lutherans grew its stake in shares of Microsemi by 0.3% during the fourth quarter. Thrivent Financial For Lutherans now owns 336,634 shares of the semiconductor company’s stock worth $17,387,000 after purchasing an additional 1,044 shares during the period. Institutional investors own 97.35% of the company’s stock.
In other Microsemi news, SVP David Goren sold 2,090 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $66.43, for a total value of $138,838.70. Following the completion of the transaction, the senior vice president now directly owns 10,539 shares of the company’s stock, valued at $700,105.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul F. Folino sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $67.27, for a total value of $302,715.00. Following the completion of the transaction, the director now directly owns 1,070 shares of the company’s stock, valued at $71,978.90. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
Microsemi (NASDAQ:MSCC) last posted its earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. The firm had revenue of $468.70 million during the quarter, compared to analysts’ expectations of $460.17 million. During the same period in the previous year, the firm earned $0.86 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. equities research analysts anticipate that Microsemi Co. will post 3.51 earnings per share for the current year.
A number of brokerages recently commented on MSCC. Piper Jaffray cut Microsemi from an “overweight” rating to a “neutral” rating in a research note on Tuesday, March 6th. SunTrust Banks reaffirmed a “buy” rating and set a $71.00 price objective on shares of Microsemi in a research note on Friday, January 26th. Royal Bank of Canada reaffirmed a “buy” rating and set a $66.00 price objective on shares of Microsemi in a research note on Friday, January 26th. Stifel Nicolaus lifted their price objective on Microsemi from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Finally, Mizuho cut Microsemi from a “buy” rating to a “neutral” rating and set a $68.78 price objective for the company. in a research note on Monday, March 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $64.32.
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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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