Brokerages Set Microsemi Corp. (MSCC) PT at $48.00
Shares of Microsemi Corp. (NASDAQ:MSCC) have been given a consensus rating of “Buy” by the nineteen research firms that are currently covering the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $48.08.
Several research analysts have recently commented on the company. Mizuho boosted their price target on Microsemi Corp. from $46.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets reissued a “buy” rating and issued a $50.00 price target (up from $45.00) on shares of Microsemi Corp. in a research report on Friday, July 29th. Needham & Company LLC reissued a “buy” rating on shares of Microsemi Corp. in a research report on Friday. Zacks Investment Research lowered Microsemi Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Stephens set a $36.00 price target on Microsemi Corp. and gave the stock a “buy” rating in a research report on Friday.
Microsemi Corp. (NASDAQ:MSCC) opened at 51.10 on Thursday. The stock has a 50 day moving average price of $41.92 and a 200 day moving average price of $37.37. The company’s market cap is $5.78 billion. Microsemi Corp. has a 1-year low of $28.91 and a 1-year high of $52.10.
Microsemi Corp. (NASDAQ:MSCC) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.01. The firm earned $450.10 million during the quarter, compared to analyst estimates of $448.07 million. Microsemi Corp. had a positive return on equity of 18.62% and a negative net margin of 1.46%. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. On average, equities research analysts anticipate that Microsemi Corp. will post $3.69 EPS for the current fiscal year.
In other news, SVP David Goren sold 14,603 shares of the business’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $41.89, for a total value of $611,719.67. Following the completion of the transaction, the senior vice president now owns 30,524 shares of the company’s stock, valued at approximately $1,278,650.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John W. Hohener sold 20,403 shares of the business’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $41.95, for a total value of $855,905.85. Following the completion of the transaction, the chief financial officer now directly owns 47,211 shares of the company’s stock, valued at approximately $1,980,501.45. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of MSCC. Espalier Global Management LLC bought a new position in shares of Microsemi Corp. during the third quarter valued at about $1,258,000. Profund Advisors LLC boosted its position in shares of Microsemi Corp. by 87.2% in the third quarter. Profund Advisors LLC now owns 33,117 shares of the company’s stock valued at $1,390,000 after buying an additional 15,424 shares during the period. Morgan Stanley boosted its position in shares of Microsemi Corp. by 69.2% in the third quarter. Morgan Stanley now owns 229,000 shares of the company’s stock valued at $9,614,000 after buying an additional 93,623 shares during the period. Pacer Advisors Inc. boosted its position in shares of Microsemi Corp. by 11.6% in the third quarter. Pacer Advisors Inc. now owns 9,486 shares of the company’s stock valued at $398,000 after buying an additional 985 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Microsemi Corp. by 4.0% in the third quarter. Principal Financial Group Inc. now owns 449,853 shares of the company’s stock valued at $18,885,000 after buying an additional 17,289 shares during the period.
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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