Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Microsemi Co. (NASDAQ:MSCC) by 2,218.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,236 shares of the semiconductor company’s stock after buying an additional 84,430 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned 0.08% of Microsemi worth $4,541,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. CIBC Asset Management Inc purchased a new position in shares of Microsemi during the 3rd quarter valued at approximately $203,000. BTC Capital Management Inc. purchased a new position in shares of Microsemi during the 3rd quarter valued at approximately $214,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Microsemi by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 395 shares in the last quarter. BB&T Securities LLC increased its holdings in shares of Microsemi by 13.4% during the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 610 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Microsemi during the 2nd quarter valued at approximately $247,000. 97.54% of the stock is owned by institutional investors.
In other Microsemi news, Director Thomas Robert Anderson sold 1,000 shares of Microsemi stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $51.12, for a total transaction of $51,120.00. Following the sale, the director now owns 14,113 shares of the company’s stock, valued at approximately $721,456.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David Goren sold 8,329 shares of Microsemi stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $52.54, for a total transaction of $437,605.66. The disclosure for this sale can be found here. In the last three months, insiders sold 238,521 shares of company stock valued at $12,718,259. 0.57% of the stock is owned by insiders.
Microsemi (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $475.30 million during the quarter, compared to analyst estimates of $474.97 million. Microsemi had a net margin of 9.73% and a return on equity of 20.82%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. analysts expect that Microsemi Co. will post 3.57 earnings per share for the current year.
Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $61.00 target price on shares of Microsemi in a report on Friday, November 10th. Zacks Investment Research lowered shares of Microsemi from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Oppenheimer reissued a “hold” rating on shares of Microsemi in a report on Friday, November 10th. KeyCorp reissued a “buy” rating and issued a $62.00 price target on shares of Microsemi in a report on Friday, October 20th. Finally, BidaskClub lowered shares of Microsemi from a “hold” rating to a “sell” rating in a report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Microsemi has an average rating of “Buy” and an average target price of $61.11.
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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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