Microsemi Corp. (MSCC) Updates Q1 Earnings Guidance
Microsemi Corp. (NASDAQ:MSCC) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.82-0.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.82. The company issued revenue guidance of $428-442 million, compared to the consensus revenue estimate of $433.83 million.
Several research firms recently weighed in on MSCC. Deutsche Bank AG began coverage on Microsemi Corp. in a report on Tuesday. They set a buy rating and a $60.00 price target on the stock. SunTrust Banks Inc. reaffirmed a buy rating and issued a $51.00 price objective on shares of Microsemi Corp. in a research report on Saturday, October 29th. Zacks Investment Research downgraded Microsemi Corp. from a hold rating to a sell rating in a research report on Tuesday, October 4th. Macquarie reaffirmed a positive rating on shares of Microsemi Corp. in a research report on Thursday, September 22nd. Finally, Susquehanna assumed coverage on Microsemi Corp. in a research report on Tuesday, September 20th. They issued a positive rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $47.80.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 47.86 on Friday. The stock’s market capitalization is $5.42 billion. The firm has a 50-day moving average price of $41.67 and a 200-day moving average price of $37.27. Microsemi Corp. has a 1-year low of $28.91 and a 1-year high of $50.00.
Microsemi Corp. (NASDAQ:MSCC) last posted its earnings results on Thursday, November 10th. The company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.01. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. The company had revenue of $450.10 million for the quarter, compared to the consensus estimate of $448.07 million. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities research analysts forecast that Microsemi Corp. will post $2.96 earnings per share for the current year.
In related news, COO Paul H. Pickle sold 102,142 shares of the business’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $46.82, for a total value of $4,782,288.44. Following the sale, the chief operating officer now owns 138,525 shares in the company, valued at approximately $6,485,740.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David Goren sold 14,603 shares of the business’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $41.89, for a total value of $611,719.67. Following the completion of the sale, the senior vice president now owns 30,524 shares in the company, valued at approximately $1,278,650.36. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of MSCC. Cipher Capital LP increased its stake in Microsemi Corp. by 76.5% in the second quarter. Cipher Capital LP now owns 110,687 shares of the company’s stock valued at $3,617,000 after buying an additional 47,959 shares in the last quarter. BlueMountain Capital Management LLC bought a new position in Microsemi Corp. during the second quarter valued at approximately $152,000. American International Group Inc. boosted its position in Microsemi Corp. by 1.3% in the second quarter. American International Group Inc. now owns 280,926 shares of the company’s stock valued at $9,181,000 after buying an additional 3,525 shares during the last quarter. Gideon Capital Advisors Inc. bought a new position in Microsemi Corp. during the second quarter valued at approximately $251,000. Finally, Sei Investments Co. boosted its position in Microsemi Corp. by 3.8% in the second quarter. Sei Investments Co. now owns 126,243 shares of the company’s stock valued at $4,126,000 after buying an additional 4,586 shares during the last quarter.
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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