Microsemi Corp. (NASDAQ:MSCC) shares gapped up before the market opened on Sunday after Mizuho raised their price target on the stock from $46.00 to $60.00. The stock had previously closed at ($50.43), but opened at $0.00. Mizuho currently has a buy rating on the stock. Microsemi Corp. shares last traded at $0.00, with a volume of 3718767 shares.

A number of other research firms have also weighed in on MSCC. Susquehanna started coverage on Microsemi Corp. in a report on Tuesday, September 20th. They set a “positive” rating and a $50.00 target price on the stock. Stifel Nicolaus boosted their target price on Microsemi Corp. from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, September 9th. RBC Capital Markets reissued a “top pick” rating and set a $48.00 target price (up from $47.00) on shares of Microsemi Corp. in a report on Sunday, July 31st. BMO Capital Markets reissued a “buy” rating and set a $50.00 target price (up from $45.00) on shares of Microsemi Corp. in a report on Friday, July 29th. Finally, TheStreet raised Microsemi Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. Microsemi Corp. presently has a consensus rating of “Buy” and a consensus price target of $48.13.

In other Microsemi Corp. news, Director Paul F. Folino sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $39.80, for a total value of $59,700.00. Following the completion of the transaction, the director now owns 1,070 shares of the company’s stock, valued at approximately $42,586. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David Goren sold 3,453 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $38.51, for a total value of $132,975.03. Following the completion of the transaction, the senior vice president now directly owns 25,491 shares of the company’s stock, valued at approximately $981,658.41. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Microsemi Corp. by 17.4% in the first quarter. JPMorgan Chase & Co. now owns 162,242 shares of the company’s stock valued at $6,216,000 after buying an additional 24,054 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Microsemi Corp. by 1.7% in the first quarter. UBS Asset Management Americas Inc. now owns 75,011 shares of the company’s stock valued at $2,873,000 after buying an additional 1,278 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Microsemi Corp. by 8.6% in the first quarter. Riverhead Capital Management LLC now owns 23,030 shares of the company’s stock valued at $882,000 after buying an additional 1,830 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Microsemi Corp. by 17.8% in the first quarter. Geode Capital Management LLC now owns 816,236 shares of the company’s stock valued at $31,270,000 after buying an additional 123,471 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Microsemi Corp. by 4.1% in the first quarter. Wellington Management Group LLP now owns 2,061,318 shares of the company’s stock valued at $78,969,000 after buying an additional 82,103 shares during the last quarter.

The firm’s 50 day moving average is $41.92 and its 200 day moving average is $37.37. The company’s market capitalization is $5.78 billion.

Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings data on Thursday, November 10th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.01. The company 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 firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the company earned $0.73 earnings per share. Equities analysts expect that Microsemi Corp. will post $3.69 EPS for the current year.

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.

5 Day Chart for NASDAQ:MSCC

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