Microsemi Corp. (NASDAQ:MSCC)’s share price shot up 0% on Monday after Mizuho raised their price target on the stock from $46.00 to $60.00. Mizuho currently has a buy rating on the stock. Microsemi Corp. traded as high as $52.10 and last traded at $51.08, with a volume of 1,235,220 shares. The stock had previously closed at $51.10.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets reiterated a “buy” rating and issued a $50.00 target price (up from $45.00) on shares of Microsemi Corp. in a research report on Friday, July 29th. Zacks Investment Research cut shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Susquehanna began coverage on shares of Microsemi Corp. in a research report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price (up from $46.00) on shares of Microsemi Corp. in a research report on Friday, September 9th. Finally, Drexel Hamilton cut shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $48.13.

In other news, VP Frederick C. Goerner sold 6,958 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $39.62, for a total value of $275,675.96. Following the completion of the transaction, the vice president now owns 48,458 shares of the company’s stock, valued at $1,919,905.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul F. Folino sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $39.80, for a total transaction of $59,700.00. Following the completion of the transaction, the director now directly owns 1,070 shares of the company’s stock, valued at approximately $42,586. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in 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. raised its position in 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 raised its position in 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 raised its position in 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 raised its position in 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 market capitalization is $5.80 billion. The company’s 50-day moving average is $42.22 and its 200-day moving average is $37.49.

Microsemi Corp. (NASDAQ:MSCC) last announced its earnings results on Thursday, November 10th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01. Microsemi Corp. had a negative net margin of 1.46% and a positive return on equity of 17.86%. The firm earned $450.10 million during the quarter, compared to the consensus estimate of $448.07 million. During the same quarter in the previous year, the company posted $0.73 EPS. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities research analysts expect that Microsemi Corp. will post $3.69 EPS for the current year.

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.

5 Day Chart for NASDAQ:MSCC

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