Texas Permanent School Fund boosted its position in Microsemi Corporation (NASDAQ:MSCC) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,310 shares of the semiconductor company’s stock after buying an additional 827 shares during the period. Texas Permanent School Fund’s holdings in Microsemi Corporation were worth $3,946,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Asset Management Inc increased its position in Microsemi Corporation by 14.7% in the second quarter. World Asset Management Inc now owns 8,175 shares of the semiconductor company’s stock worth $383,000 after buying an additional 1,046 shares during the period. Moody Aldrich Partners LLC increased its position in Microsemi Corporation by 31.4% in the second quarter. Moody Aldrich Partners LLC now owns 29,670 shares of the semiconductor company’s stock worth $1,389,000 after buying an additional 7,095 shares during the period. Public Employees Retirement Association of Colorado increased its position in Microsemi Corporation by 21.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 20,815 shares of the semiconductor company’s stock worth $974,000 after buying an additional 3,626 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its position in Microsemi Corporation by 0.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 899,355 shares of the semiconductor company’s stock worth $42,089,000 after buying an additional 5,100 shares during the period. Finally, ING Groep NV purchased a new position in Microsemi Corporation during the second quarter worth $657,000.
Microsemi Corporation (MSCC) opened at 52.04 on Thursday. The stock has a 50 day moving average price of $49.80 and a 200 day moving average price of $50.95. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 52.67 and a beta of 1.16. Microsemi Corporation has a 12-month low of $37.11 and a 12-month high of $57.97.
Microsemi Corporation (NASDAQ:MSCC) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.18. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The company had revenue of $458.10 million during the quarter, compared to analyst estimates of $457.87 million. During the same period in the previous year, the business earned $0.73 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts expect that Microsemi Corporation will post $3.82 EPS for the current year.
Microsemi Corporation declared that its Board of Directors has authorized a share repurchase program on Thursday, July 27th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 43% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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A number of research firms recently weighed in on MSCC. BidaskClub downgraded Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Microsemi Corporation in a research note on Monday. Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 price objective (up from $58.00) on shares of Microsemi Corporation in a report on Sunday. Finally, Susquehanna Bancshares Inc set a $70.00 price objective on Microsemi Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $58.42.
In related news, SVP David Goren sold 8,464 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $51.36, for a total value of $434,711.04. Following the completion of the transaction, the senior vice president now directly owns 22,320 shares in the company, valued at approximately $1,146,355.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman James J. Peterson sold 8,800 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $50.11, for a total transaction of $440,968.00. Following the completion of the transaction, the chairman now owns 183,311 shares of the company’s stock, valued at $9,185,714.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,558 shares of company stock valued at $1,863,142. 0.57% of the stock is owned by company insiders.
Microsemi Corporation 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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