David Goren Sells 14,603 Shares of Microsemi Corp. (MSCC) Stock
Microsemi Corp. (NASDAQ:MSCC) SVP David Goren sold 14,603 shares of the business’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $41.89, for a total value of $611,719.67. Following the completion of the sale, the senior vice president now owns 30,524 shares of the company’s stock, valued at $1,278,650.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The firm has a 50-day moving average price of $40.63 and a 200-day moving average price of $36.53. The firm’s market cap is $4.71 billion. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last released its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. The business earned $431.40 million during the quarter, compared to the consensus estimate of $430.22 million. During the same period last year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, equities analysts expect that Microsemi Corp. will post $3.02 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. 1st Global Advisors Inc. increased its stake in Microsemi Corp. by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 9,239 shares of the company’s stock worth $302,000 after buying an additional 36 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Microsemi Corp. by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,527 shares of the company’s stock worth $638,000 after buying an additional 137 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its stake in Microsemi Corp. by 0.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 31,461 shares of the company’s stock worth $1,205,000 after buying an additional 161 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Microsemi Corp. by 1.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,917 shares of the company’s stock worth $840,000 after buying an additional 275 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Microsemi Corp. by 2.6% in the second quarter. Profund Advisors LLC now owns 17,693 shares of the company’s stock worth $578,000 after buying an additional 453 shares in the last quarter. 90.57% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded Microsemi Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. Susquehanna initiated coverage on Microsemi Corp. in a report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price objective for the company. Macquarie reaffirmed a “positive” rating on shares of Microsemi Corp. in a report on Thursday, September 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective (up from $46.00) on shares of Microsemi Corp. in a report on Friday, September 9th. Finally, Stifel Nicolaus lifted their price objective on Microsemi Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.79.
Microsemi Corp. Company Profile
Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans.
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