Microsemi Corp. (MSCC) Earns Buy Rating from Needham & Company LLC
Needham & Company LLC reissued their buy rating on shares of Microsemi Corp. (NASDAQ:MSCC) in a research note issued to investors on Friday morning. Needham & Company LLC currently has a $52.00 target price on the stock.
Several other research firms have also issued reports on MSCC. Mizuho upped their target price on Microsemi Corp. from $46.00 to $60.00 and gave the stock a buy rating in a report on Friday, November 11th. Deutsche Bank AG assumed coverage on Microsemi Corp. in a research note on Tuesday, November 8th. They issued a buy rating and a $60.00 price objective on the stock. SunTrust Banks Inc. restated a buy rating and issued a $51.00 price objective on shares of Microsemi Corp. in a research note on Saturday, October 29th. Zacks Investment Research lowered Microsemi Corp. from a hold rating to a sell rating in a research note on Tuesday, October 4th. Finally, Susquehanna assumed coverage on Microsemi Corp. in a research note on Tuesday, September 20th. They issued a positive rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $49.00.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 53.03 on Friday. Microsemi Corp. has a 12-month low of $28.91 and a 12-month high of $53.39. The firm’s market cap is $5.96 billion. The firm has a 50-day moving average price of $42.57 and a 200-day moving average price of $37.62.
Microsemi Corp. (NASDAQ:MSCC) last released its earnings results on Thursday, November 10th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.01. Microsemi Corp. had a positive return on equity of 17.86% and a negative net margin of 1.46%. The business had revenue of $450.10 million for the quarter, compared to analyst estimates of $448.07 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. Microsemi Corp.’s revenue was up 36.9% on a year-over-year basis. Equities research analysts anticipate that Microsemi Corp. will post $3.81 EPS for the current year.
In other news, VP Frederick C. Goerner sold 4,659 shares of Microsemi Corp. stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $37.95, for a total value of $176,809.05. Following the completion of the transaction, the vice president now directly owns 40,644 shares of the company’s stock, valued at approximately $1,542,439.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul F. Folino sold 1,500 shares of Microsemi Corp. 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 directly owns 1,070 shares of the company’s stock, valued at $42,586. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MSCC. Vanguard Group Inc. raised its position in Microsemi Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 8,422,882 shares of the company’s stock valued at $275,260,000 after buying an additional 315,481 shares during the period. BlackRock Fund Advisors increased its position in Microsemi Corp. by 5.7% in the third quarter. BlackRock Fund Advisors now owns 6,333,177 shares of the company’s stock worth $265,867,000 after buying an additional 339,152 shares during the period. Boston Partners increased its position in Microsemi Corp. by 6.5% in the second quarter. Boston Partners now owns 5,990,427 shares of the company’s stock worth $195,768,000 after buying an additional 364,661 shares during the period. State Street Corp increased its position in Microsemi Corp. by 0.7% in the second quarter. State Street Corp now owns 3,815,707 shares of the company’s stock worth $124,694,000 after buying an additional 28,162 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Microsemi Corp. by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,550,047 shares of the company’s stock worth $116,016,000 after buying an additional 112,731 shares during the period.
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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