Paul H. Pickle Sells 5,903 Shares of Microsemi Corp. (MSCC) Stock
Microsemi Corp. (NASDAQ:MSCC) COO Paul H. Pickle sold 5,903 shares of the company’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $38.51, for a total transaction of $227,324.53. Following the transaction, the chief operating officer now owns 39,679 shares of the company’s stock, valued at $1,528,038.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 37.73 on Tuesday. The stock’s market cap is $4.27 billion. The company has a 50 day moving average of $40.36 and a 200-day moving average of $36.55. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last issued its earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, topping the 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 negative net margin of 3.12% and a positive return on equity of 17.32%. The business’s revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. On average, analysts anticipate that Microsemi Corp. will post $3.02 earnings per share for the current year.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Microsemi Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Macquarie restated a “positive” rating on shares of Microsemi Corp. in a research report on Thursday, September 22nd. Drexel Hamilton cut shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. RBC Capital Markets restated a “top pick” rating and set a $48.00 price objective on shares of Microsemi Corp. in a research report on Thursday, September 15th. Finally, Mizuho upped their price objective on shares of Microsemi Corp. from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. One 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 company currently has an average rating of “Buy” and an average price target of $46.79.
Large investors have recently modified their holdings of the company. Seven Eight Capital LLC increased 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 valued at $102,000 after buying an additional 1,700 shares during the period. FTB Advisors Inc. increased 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 valued at $143,000 after buying an additional 3,410 shares during the period. BlueMountain Capital Management LLC purchased a new position in Microsemi Corp. during the second quarter valued at about $152,000. Telemus Capital LLC purchased a new position in Microsemi Corp. during the third quarter valued at about $230,000. Finally, BB&T Corp purchased a new position in Microsemi Corp. during the second quarter valued at about $217,000.
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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