Microsemi Corp. (MSCC) CFO John W. Hohener Sells 4,823 Shares
Microsemi Corp. (NASDAQ:MSCC) CFO John W. Hohener sold 4,823 shares of the stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $38.51, for a total value of $185,733.73. Following the sale, the chief financial officer now owns 40,181 shares in the company, valued at approximately $1,547,370.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 38.01 on Monday. The company’s market cap is $4.30 billion. Microsemi Corp. has a 12 month low of $28.91 and a 12 month high of $42.64. The company’s 50-day moving average price is $40.41 and its 200-day moving average price is $36.58.
Microsemi Corp. (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The company 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%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Equities analysts forecast that Microsemi Corp. will post $3.02 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. 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 in the last quarter. 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 in the last quarter. BlueMountain Capital Management LLC acquired a new stake in Microsemi Corp. during the second quarter worth approximately $152,000. Telemus Capital LLC acquired a new stake in Microsemi Corp. during the third quarter worth approximately $230,000. Finally, BB&T Corp acquired a new stake in Microsemi Corp. during the second quarter worth approximately $217,000.
MSCC has been the topic of a number of recent analyst reports. SunTrust Banks Inc. reiterated a “buy” rating on shares of Microsemi Corp. in a research note on Saturday, June 25th. Zacks Investment Research upgraded Microsemi Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Needham & Company LLC reiterated a “buy” rating and issued a $46.00 target price on shares of Microsemi Corp. in a research note on Wednesday, June 29th. BMO Capital Markets reiterated a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Microsemi Corp. in a research note on Friday, July 29th. Finally, RBC Capital Markets reiterated a “top pick” rating and issued a $48.00 target price (up previously from $47.00) on shares of Microsemi Corp. in a research note on Sunday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average 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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