Microsemi Corp. (MSCC) SVP David Goren Sells 14,603 Shares
Microsemi Corp. (NASDAQ:MSCC) SVP David Goren sold 14,603 shares of the business’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $41.89, for a total transaction of $611,719.67. Following the completion of the sale, the senior vice president now owns 30,524 shares in the company, valued at $1,278,650.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The firm’s market cap is $4.71 billion. The company’s 50-day moving average is $40.63 and its 200-day moving average is $36.53. Microsemi Corp. has a 52-week low of $28.91 and a 52-week 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 analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $431.40 million for the quarter, compared to analyst estimates of $430.22 million. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. Microsemi Corp.’s revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. Equities research analysts forecast that Microsemi Corp. will post $3.02 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Seven Eight Capital LLC raised its position in Microsemi Corp. by 119.5% in the second quarter. Seven Eight Capital LLC now owns 3,122 shares of the company’s stock worth $102,000 after buying an additional 1,700 shares during the last quarter. FTB Advisors Inc. raised its position in Microsemi Corp. by 347.6% in the second quarter. FTB Advisors Inc. now owns 4,391 shares of the company’s stock worth $143,000 after buying an additional 3,410 shares during the period. BlueMountain Capital Management LLC bought a new position in Microsemi Corp. during the second quarter worth $152,000. Telemus Capital LLC bought a new position in Microsemi Corp. during the third quarter worth $230,000. Finally, Acrospire Investment Management LLC bought a new position in Microsemi Corp. during the first quarter worth $236,000. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on MSCC shares. TheStreet upgraded shares of Microsemi Corp. from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Mizuho upped their target price on shares of Microsemi Corp. from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, August 22nd. BMO Capital Markets restated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Microsemi Corp. in a report on Friday, July 29th. Needham & Company LLC restated a “buy” rating on shares of Microsemi Corp. in a report on Friday, July 29th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Microsemi Corp. in a report on Saturday, June 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. 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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