Stevens Capital Management LP boosted its holdings in Microsemi Corporation (NASDAQ:MSCC) by 73.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,496 shares of the semiconductor company’s stock after purchasing an additional 23,428 shares during the quarter. Stevens Capital Management LP’s holdings in Microsemi Corporation were worth $2,857,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in MSCC. BT Investment Management Ltd increased its stake in Microsemi Corporation by 67.5% during the third quarter. BT Investment Management Ltd now owns 35,039 shares of the semiconductor company’s stock worth $1,804,000 after acquiring an additional 14,117 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Microsemi Corporation by 1.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 155,148 shares of the semiconductor company’s stock worth $7,987,000 after acquiring an additional 1,590 shares during the last quarter. Palisade Capital Management LLC NJ increased its stake in Microsemi Corporation by 1.9% during the third quarter. Palisade Capital Management LLC NJ now owns 288,675 shares of the semiconductor company’s stock worth $14,861,000 after acquiring an additional 5,331 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Microsemi Corporation during the third quarter worth about $13,462,000. Finally, Rice Hall James & Associates LLC increased its stake in Microsemi Corporation by 44.4% during the third quarter. Rice Hall James & Associates LLC now owns 46,596 shares of the semiconductor company’s stock worth $2,399,000 after acquiring an additional 14,324 shares during the last quarter. Hedge funds and other institutional investors own 98.37% of the company’s stock.
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Several equities research analysts have commented on MSCC shares. Zacks Investment Research lowered Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. BidaskClub lowered Microsemi Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $60.00 price target (up from $58.00) on shares of Microsemi Corporation in a research note on Sunday, July 30th. Finally, KeyCorp restated a “buy” rating and set a $62.00 price target on shares of Microsemi Corporation in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Microsemi Corporation currently has an average rating of “Buy” and an average target price of $58.60.
In related news, insider Dennis R. Leibel sold 3,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $50.76, for a total value of $152,280.00. Following the completion of the transaction, the insider now owns 4,369 shares of the company’s stock, valued at $221,770.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Frederick C. Goerner sold 1,500 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $50.12, for a total value of $75,180.00. Following the completion of the transaction, the vice president now directly owns 60,436 shares of the company’s stock, valued at approximately $3,029,052.32. The disclosure for this sale can be found here. Insiders sold 231,467 shares of company stock valued at $12,340,556 in the last ninety days. Company insiders own 0.57% of the company’s stock.
Shares of Microsemi Corporation (MSCC) opened at $52.62 on Friday. Microsemi Corporation has a 1 year low of $46.08 and a 1 year high of $57.97. The company has a quick ratio of 1.53, a current ratio of 2.26 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $6,112.75, a PE ratio of 15.87, a PEG ratio of 1.17 and a beta of 1.16.
Microsemi Corporation (NASDAQ:MSCC) last issued its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.01. Microsemi Corporation had a return on equity of 21.31% and a net margin of 9.73%. The company had revenue of $475.30 million during the quarter, compared to the consensus estimate of $474.97 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. research analysts expect that Microsemi Corporation will post 3.62 EPS for the current fiscal year.
Microsemi Corporation declared that its Board of Directors has approved a share repurchase plan on Thursday, July 27th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 43% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
Microsemi Corporation 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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