Stone Ridge Asset Management LLC Invests $200,000 in Microsemi Co. (MSCC)

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.

How to Become a New Pot Stock Millionaire

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.

NASDAQ:MSCC opened at $63.68 on Friday. Microsemi Co. has a 1 year low of $46.08 and a 1 year high of $67.52. The company has a quick ratio of 1.55, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $7,676.95, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18.

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.

ILLEGAL ACTIVITY WARNING: This news story was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3337756/stone-ridge-asset-management-llc-invests-200000-in-microsemi-co-mscc.html.

Microsemi 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.

Want to see what other hedge funds are holding MSCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Microsemi Co. (NASDAQ:MSCC).

Institutional Ownership by Quarter for Microsemi (NASDAQ:MSCC)

Receive News & Ratings for Microsemi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsemi and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

BNP Paribas Reiterates CHF 74 Price Target for Nestle
BNP Paribas Reiterates CHF 74 Price Target for Nestle
Roche  Given a CHF 230 Price Target at Morgan Stanley
Roche Given a CHF 230 Price Target at Morgan Stanley
Vermilion Energy  Price Target Raised to C$60.00 at Scotiabank
Vermilion Energy Price Target Raised to C$60.00 at Scotiabank
Spartan Energy  Downgraded by Raymond James to “Market Perform”
Spartan Energy Downgraded by Raymond James to “Market Perform”
Critical Survey: Match Group  versus Its Rivals
Critical Survey: Match Group versus Its Rivals
Financial Contrast: RPM International  and AkzoNobel
Financial Contrast: RPM International and AkzoNobel


Leave a Reply

© 2006-2018 Ticker Report. Google+.