Paul H. Pickle Sells 24,968 Shares of Microsemi Corp. (MSCC) Stock
Microsemi Corp. (NASDAQ:MSCC) COO Paul H. Pickle sold 24,968 shares of the firm’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $41.95, for a total value of $1,047,407.60. Following the completion of the sale, the chief operating officer now owns 51,541 shares in the company, valued at $2,162,144.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The stock’s market cap is $4.71 billion. The company has a 50-day moving average price of $40.63 and a 200-day moving average price of $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 announced its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $431.40 million for the quarter, compared to analysts’ expectations of $430.22 million. During the same period in the prior year, the business posted $0.68 earnings per share. The business’s revenue was up 36.0% compared to the same quarter last year. Analysts anticipate that Microsemi Corp. will post $3.02 earnings per share for the current year.
MSCC has been the topic of a number of recent analyst reports. SunTrust Banks Inc. restated a “buy” rating on shares of Microsemi Corp. in a research note on Saturday, June 25th. Zacks Investment Research upgraded shares of Microsemi Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Microsemi Corp. in a research note on Wednesday, June 29th. BMO Capital Markets restated a “buy” rating and set a $50.00 price objective (up from $45.00) on shares of Microsemi Corp. in a research note on Friday, July 29th. Finally, RBC Capital Markets restated a “top pick” rating and set a $48.00 price objective (up from $47.00) on shares of Microsemi Corp. in a research note on Sunday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. Microsemi Corp. presently has an average rating of “Buy” and an average price target of $46.79.
Several hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Microsemi Corp. by 72.2% in the first quarter. State Street Corp now owns 3,787,545 shares of the company’s stock valued at $145,102,000 after buying an additional 1,587,798 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Microsemi Corp. by 109.0% in the second quarter. Westfield Capital Management Co. LP now owns 1,771,088 shares of the company’s stock valued at $57,879,000 after buying an additional 923,781 shares during the last quarter. Teachers Advisors Inc. boosted its stake in shares of Microsemi Corp. by 646.6% in the first quarter. Teachers Advisors Inc. now owns 1,036,564 shares of the company’s stock valued at $39,711,000 after buying an additional 897,735 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Microsemi Corp. by 27.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,437,316 shares of the company’s stock valued at $131,684,000 after buying an additional 745,087 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Microsemi Corp. during the second quarter valued at approximately $19,098,000. Institutional investors own 90.57% of the company’s stock.
About Microsemi Corp.
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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