Microsemi Corp. (MSCC) Chairman Sells $498,126.85 in Stock
Microsemi Corp. (NASDAQ:MSCC) Chairman James J. Peterson sold 12,935 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $38.51, for a total value of $498,126.85. Following the completion of the sale, the chairman now owns 137,865 shares in the company, valued at approximately $5,309,181.15. The transaction was disclosed in a filing with the SEC, which is available at this link.
Microsemi Corp. (NASDAQ:MSCC) traded down 0.03% during trading on Friday, hitting $38.01. The stock had a trading volume of 839,942 shares. The firm’s market cap is $4.30 billion. The stock’s 50-day moving average is $40.41 and its 200 day moving average is $36.58. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, beating 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 firm had revenue of $431.40 million for the quarter, compared to the consensus estimate of $430.22 million. During the same period in the previous year, the business earned $0.68 earnings per share. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. Equities analysts anticipate that Microsemi Corp. will post $3.02 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of MSCC. Seven Eight Capital LLC increased its stake 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 period. FTB Advisors Inc. increased its stake 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 acquired a new stake in Microsemi Corp. during the second quarter worth $152,000. BB&T Corp acquired a new stake in Microsemi Corp. during the second quarter worth $217,000. Finally, LS Investment Advisors LLC increased its stake in Microsemi Corp. by 70.9% in the second quarter. LS Investment Advisors LLC now owns 6,800 shares of the company’s stock worth $222,000 after buying an additional 2,820 shares during the period.
Several research analysts have recently weighed in on MSCC shares. Mizuho reaffirmed a “buy” rating and set a $46.00 target price on shares of Microsemi Corp. in a research note on Monday, September 12th. Needham & Company LLC reaffirmed a “buy” rating on shares of Microsemi Corp. in a research note on Friday, July 29th. Zacks Investment Research downgraded Microsemi Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. RBC Capital Markets reaffirmed a “top pick” rating and set a $48.00 target price (up from $47.00) on shares of Microsemi Corp. in a research note on Sunday, July 31st. Finally, Susquehanna started coverage on Microsemi Corp. in a research note on Tuesday, September 20th. They set a “positive” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target 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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