Microsemi Co. (MSCC) Receives $61.67 Average PT from Analysts

Microsemi Co. (NASDAQ:MSCC) has earned an average recommendation of “Buy” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. 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. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $61.67.

A number of equities research analysts recently weighed in on MSCC shares. Zacks Investment Research upgraded Microsemi from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, September 26th. BidaskClub cut Microsemi from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Piper Jaffray Companies started coverage on Microsemi in a research note on Monday, December 18th. They issued an “overweight” rating and a $60.00 price target on the stock. Oppenheimer restated a “hold” rating on shares of Microsemi in a research note on Friday, November 10th. Finally, KeyCorp restated a “buy” rating and issued a $62.00 price target on shares of Microsemi in a research note on Friday, October 20th.

In other Microsemi news, VP Frederick C. Goerner sold 3,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $55.00, for a total transaction of $165,000.00. Following the transaction, the vice president now owns 57,602 shares in the company, valued at approximately $3,168,110. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John W. Hohener sold 55,618 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $53.73, for a total value of $2,988,355.14. Following the transaction, the chief financial officer now owns 80,133 shares in the company, valued at approximately $4,305,546.09. The disclosure for this sale can be found here. Insiders have sold a total of 179,464 shares of company stock worth $9,627,795 in the last quarter. Company insiders own 0.57% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MSCC. Bank of New York Mellon Corp increased its position in shares of Microsemi by 41.7% in the third quarter. Bank of New York Mellon Corp now owns 4,065,729 shares of the semiconductor company’s stock worth $209,305,000 after purchasing an additional 1,196,836 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Microsemi in the third quarter worth $38,306,000. Eagle Asset Management Inc. bought a new position in shares of Microsemi in the third quarter worth $25,153,000. Royal Bank of Canada increased its position in shares of Microsemi by 64.7% in the second quarter. Royal Bank of Canada now owns 777,401 shares of the semiconductor company’s stock worth $36,382,000 after purchasing an additional 305,447 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of Microsemi in the third quarter worth $13,462,000. Institutional investors own 97.55% of the company’s stock.

Microsemi (MSCC) traded up $0.21 on Tuesday, reaching $58.18. The company had a trading volume of 697,390 shares, compared to its average volume of 943,715. Microsemi has a twelve month low of $46.08 and a twelve month high of $59.22. The company has a current ratio of 1.92, a quick ratio of 1.29 and a debt-to-equity ratio of 0.87. The company has a market cap of $6,869.20, a PE ratio of 38.53, a PEG ratio of 1.23 and a beta of 1.15.

Microsemi (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. Microsemi had a return on equity of 20.82% and a net margin of 9.73%. The business had revenue of $475.30 million for the quarter, compared to analysts’ expectations of $474.97 million. During the same quarter in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. analysts predict that Microsemi will post 3.57 earnings per share for the current year.

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About Microsemi

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.

Analyst Recommendations for Microsemi (NASDAQ:MSCC)

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