Victory Capital Management Inc. boosted its holdings in Microsemi Co. (NASDAQ:MSCC) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 88,194 shares of the semiconductor company’s stock after purchasing an additional 7,508 shares during the period. Victory Capital Management Inc.’s holdings in Microsemi were worth $4,555,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Oakbrook Investments LLC lifted its stake in Microsemi by 74.5% in the fourth quarter. Oakbrook Investments LLC now owns 10,820 shares of the semiconductor company’s stock worth $559,000 after purchasing an additional 4,620 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Microsemi by 27.4% in the third quarter. JPMorgan Chase & Co. now owns 162,570 shares of the semiconductor company’s stock worth $8,293,000 after purchasing an additional 34,994 shares during the last quarter. Cetera Investment Advisers bought a new stake in Microsemi in the second quarter worth $280,000. Fox Run Management L.L.C. bought a new stake in Microsemi in the third quarter worth $535,000. Finally, American Century Companies Inc. lifted its stake in Microsemi by 2.9% in the third quarter. American Century Companies Inc. now owns 119,934 shares of the semiconductor company’s stock worth $6,174,000 after purchasing an additional 3,371 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.
In related news, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $51.12, for a total transaction of $51,120.00. Following the transaction, the director now owns 14,113 shares in the company, valued at $721,456.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Frederick C. Goerner sold 3,968 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $51.51, for a total transaction of $204,391.68. Following the transaction, the vice president now owns 57,794 shares in the company, valued at approximately $2,976,968.94. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
Microsemi (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Microsemi had a net margin of 11.10% and a return on equity of 21.50%. The company had revenue of $468.70 million for the quarter, compared to analysts’ expectations of $460.17 million. During the same quarter in the previous year, the company earned $0.86 earnings per share. Microsemi’s quarterly revenue was up 7.6% on a year-over-year basis. equities research analysts expect that Microsemi Co. will post 3.51 EPS for the current fiscal year.
A number of research firms have issued reports on MSCC. BidaskClub cut shares of Microsemi from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. KeyCorp boosted their price objective on shares of Microsemi to $70.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. BMO Capital Markets restated a “buy” rating and issued a $68.00 price objective on shares of Microsemi in a research report on Friday, January 26th. Piper Jaffray Companies began coverage on shares of Microsemi in a research report on Monday, December 18th. They issued an “overweight” rating and a $60.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $70.00 price objective (up previously from $61.00) on shares of Microsemi in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. Microsemi has an average rating of “Buy” and a consensus price target of $65.55.
Microsemi 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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