Asset Management One Co. Ltd. cut its stake in Microsemi (NASDAQ:MSCC) by 64.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,556 shares of the semiconductor company’s stock after selling 2,773 shares during the period. Asset Management One Co. Ltd.’s holdings in Microsemi were worth $101,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Boston Private Wealth LLC raised its holdings in Microsemi by 36.8% in the first quarter. Boston Private Wealth LLC now owns 18,246 shares of the semiconductor company’s stock valued at $1,181,000 after acquiring an additional 4,905 shares in the last quarter. Glazer Capital LLC acquired a new stake in Microsemi in the first quarter valued at $7,352,000. Alpine Associates Management Inc. acquired a new stake in Microsemi in the first quarter valued at $243,653,000. Longfellow Investment Management Co. LLC acquired a new stake in Microsemi in the first quarter valued at $11,326,000. Finally, OppenheimerFunds Inc. raised its holdings in Microsemi by 76.8% in the first quarter. OppenheimerFunds Inc. now owns 17,944 shares of the semiconductor company’s stock valued at $1,161,000 after acquiring an additional 7,795 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:MSCC opened at $68.74 on Friday. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.21. Microsemi has a 1-year low of $46.08 and a 1-year high of $68.77. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.57 and a current ratio of 2.27.
Several research firms recently issued reports on MSCC. Stifel Nicolaus reaffirmed a “hold” rating on shares of Microsemi in a report on Wednesday, May 30th. TheStreet cut shares of Microsemi from a “b+” rating to a “c+” rating in a report on Tuesday, May 15th. BidaskClub raised shares of Microsemi from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 6th. Piper Jaffray Companies cut shares of Microsemi from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 6th. Finally, KeyCorp reaffirmed an “equal weight” rating on shares of Microsemi in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.32.
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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