Rockefeller Financial Services Inc. Acquires 16,126 Shares of Microsemi Corporation (NASDAQ:MSCC)

Rockefeller Financial Services Inc. raised its stake in Microsemi Corporation (NASDAQ:MSCC) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 549,282 shares of the semiconductor company’s stock after buying an additional 16,126 shares during the period. Rockefeller Financial Services Inc. owned approximately 0.48% of Microsemi Corporation worth $25,706,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Microsemi Corporation during the first quarter valued at $113,000. Dubuque Bank & Trust Co. acquired a new stake in shares of Microsemi Corporation during the first quarter valued at $153,000. Flinton Capital Management LLC increased its stake in shares of Microsemi Corporation by 5.3% in the first quarter. Flinton Capital Management LLC now owns 3,184 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 160 shares during the period. BTC Capital Management Inc. acquired a new stake in shares of Microsemi Corporation during the first quarter valued at $202,000. Finally, Quotient Investors LLC acquired a new stake in shares of Microsemi Corporation during the first quarter valued at $206,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

Microsemi Corporation (MSCC) opened at 49.26 on Friday. The stock has a market capitalization of $5.70 billion, a PE ratio of 49.86 and a beta of 1.16. The firm has a 50-day moving average of $50.43 and a 200-day moving average of $50.80. Microsemi Corporation has a one year low of $37.11 and a one year high of $57.97.

Microsemi Corporation (NASDAQ:MSCC) last issued its quarterly earnings results 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. The company had revenue of $458.10 million during the quarter, compared to analyst estimates of $457.87 million. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS. On average, equities research analysts forecast that Microsemi Corporation will post $3.84 earnings per share for the current year.

Microsemi Corporation announced that its board has initiated a share buyback plan on Thursday, July 27th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 43% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: “[[title]]” was published by [[site]] and is the property of of [[site]]. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at [[permalink]].

Several brokerages have recently weighed in on MSCC. Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $54.00 to $53.00 in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, August 2nd. KeyCorp began coverage on shares of Microsemi Corporation in a research note on Monday, July 24th. They set an “overweight” rating and a $61.00 target price for the company. BidaskClub upgraded shares of Microsemi Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, TheStreet upgraded shares of Microsemi Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Microsemi Corporation presently has a consensus rating of “Buy” and an average price target of $58.42.

In other news, SVP David Goren sold 8,464 shares of the company’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 sale, the senior vice president now directly owns 22,320 shares of the company’s stock, valued at approximately $1,146,355.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman James J. Peterson sold 8,800 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $47.93, for a total transaction of $421,784.00. Following the completion of the sale, the chairman now directly owns 175,781 shares of the company’s stock, valued at $8,425,183.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,908 shares of company stock valued at $1,806,405. Company insiders own 0.57% of the company’s stock.

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.