Microsemi Corporation (NASDAQ:MSCC) VP Frederick C. Goerner sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $52.33, for a total value of $261,650.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Microsemi Corporation (NASDAQ MSCC) opened at 52.27 on Wednesday. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 52.90 and a beta of 1.18. Microsemi Corporation has a 12-month low of $37.11 and a 12-month high of $57.97. The stock’s 50 day moving average is $50.22 and its 200-day moving average is $49.83.
Microsemi Corporation (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.81 by $0.18. The company had revenue of $458.10 million for the quarter, compared to the consensus estimate of $457.87 million. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. On average, analysts expect that Microsemi Corporation will post $3.84 earnings per share for the current year.
Microsemi Corporation declared that its Board of Directors has approved a stock repurchase 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 purchase up to 43% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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A number of research analysts have recently issued reports on MSCC shares. Zacks Investment Research cut Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Raymond James Financial, Inc. started coverage on Microsemi Corporation in a research note on Friday, June 16th. They set a “market perform” rating on the stock. Goldman Sachs Group, Inc. (The) raised Microsemi Corporation from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $54.00 to $53.00 in a research note on Wednesday, July 5th. BidaskClub cut Microsemi Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $60.00 price objective (up from $58.00) on shares of Microsemi Corporation in a research note on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Microsemi Corporation has a consensus rating of “Buy” and a consensus target price of $58.00.
A number of large investors have recently modified their holdings of MSCC. BlackRock Inc. grew its holdings in Microsemi Corporation by 24,626.0% during the 1st quarter. BlackRock Inc. now owns 12,207,460 shares of the semiconductor company’s stock valued at $629,050,000 after purchasing an additional 12,158,089 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Microsemi Corporation by 85.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock worth $79,881,000 after acquiring an additional 788,129 shares in the last quarter. Vanguard Group Inc. grew its stake in Microsemi Corporation by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 9,717,771 shares of the semiconductor company’s stock worth $500,758,000 after acquiring an additional 542,772 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Microsemi Corporation by 1,319.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 561,159 shares of the semiconductor company’s stock worth $28,917,000 after acquiring an additional 521,612 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Microsemi Corporation by 64.7% in the 2nd quarter. Royal Bank of Canada now owns 777,401 shares of the semiconductor company’s stock worth $36,382,000 after acquiring an additional 305,447 shares in the last quarter. Institutional investors own 98.47% of the company’s stock.
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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