Microsemi (MSCC) Shares Gap Up to $62.08

Shares of Microsemi (NASDAQ:MSCC) gapped up before the market opened on Friday . The stock had previously closed at $59.32, but opened at $62.08. Microsemi shares last traded at $63.12, with a volume of 4173113 shares changing hands.

MSCC has been the subject of several recent analyst reports. SunTrust Banks restated a “buy” rating and set a $71.00 target price on shares of Microsemi in a research note on Friday, January 26th. Royal Bank of Canada restated a “buy” rating and set a $66.00 target price on shares of Microsemi in a research note on Friday, January 26th. BMO Capital Markets restated a “buy” rating and set a $68.00 target price on shares of Microsemi in a research note on Friday, January 26th. Stifel Nicolaus raised their target price on Microsemi from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Mizuho raised their target price on Microsemi from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.32.

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The company has a market capitalization of $7,504.25, a P/E ratio of 19.36, a PEG ratio of 1.36 and a beta of 1.18. The company has a quick ratio of 1.55, a current ratio of 2.36 and a debt-to-equity ratio of 0.89.



Microsemi (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.01. The business had revenue of $468.70 million during the quarter, compared to the consensus estimate of $460.17 million. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. research analysts expect that Microsemi will post 3.51 EPS for the current fiscal year.

In other Microsemi news, VP Frederick C. Goerner sold 2,102 shares of Microsemi stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $64.76, for a total value of $136,125.52. Following the completion of the transaction, the vice president now directly owns 55,692 shares in the company, valued at $3,606,613.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul F. Folino sold 4,500 shares of Microsemi stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $67.27, for a total value of $302,715.00. Following the completion of the transaction, the director now owns 1,070 shares of the company’s stock, valued at $71,978.90. The disclosure for this sale can be found here. Insiders sold 8,692 shares of company stock valued at $577,679 over the last quarter. Insiders own 0.57% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. acquired a new position in Microsemi in the fourth quarter valued at approximately $108,000. IFP Advisors Inc boosted its stake in Microsemi by 235.2% in the fourth quarter. IFP Advisors Inc now owns 2,212 shares of the semiconductor company’s stock valued at $114,000 after acquiring an additional 1,552 shares during the period. Advisor Group Inc. boosted its stake in Microsemi by 92.7% in the fourth quarter. Advisor Group Inc. now owns 2,226 shares of the semiconductor company’s stock valued at $115,000 after acquiring an additional 1,071 shares during the period. Cerebellum GP LLC acquired a new position in Microsemi in the fourth quarter valued at approximately $124,000. Finally, Balter Liquid Alternatives LLC acquired a new position in Microsemi in the fourth quarter valued at approximately $142,000. Institutional investors own 97.10% of the company’s stock.

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About Microsemi

Microsemi Corporation designs, manufactures, and markets analog and mixed-signal semiconductor solutions in the United States, Europe, and Asia. The company offers analog mixed-signal integrated circuits; field programmable gate arrays; system on chip solutions and application-specific integrated circuits; power management products; and timing and synchronization devices, and precise time solutions.

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