Mizuho Raises Microsemi Corp. (MSCC) Price Target to $60.00
Several other research analysts have also recently commented on MSCC. Needham & Company LLC reaffirmed a buy rating on shares of Microsemi Corp. in a report on Friday, July 29th. BMO Capital Markets reissued a buy rating and issued a $50.00 price objective (up from $45.00) on shares of Microsemi Corp. in a research note on Friday, July 29th. RBC Capital Markets reissued a top pick rating and issued a $48.00 price objective (up from $47.00) on shares of Microsemi Corp. in a research note on Sunday, July 31st. TheStreet raised shares of Microsemi Corp. from a hold rating to a buy rating in a research note on Friday, July 29th. Finally, Zacks Investment Research cut shares of Microsemi Corp. from a buy rating to a hold rating in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $49.00.
Microsemi Corp. (NASDAQ:MSCC) opened at 53.03 on Friday. Microsemi Corp. has a one year low of $28.91 and a one year high of $53.39. The stock has a 50 day moving average price of $42.57 and a 200 day moving average price of $37.62. The firm’s market capitalization is $5.96 billion.
Microsemi Corp. (NASDAQ:MSCC) last announced its 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. Microsemi Corp. had a negative net margin of 1.46% and a positive return on equity of 17.86%. The company had revenue of $450.10 million for the quarter, compared to analysts’ expectations of $448.07 million. During the same period last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities analysts predict that Microsemi Corp. will post $3.81 EPS for the current fiscal year.
In related news, Director Paul F. Folino sold 1,500 shares of Microsemi Corp. stock in a transaction dated 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 sale, the director now owns 1,070 shares in the company, valued at approximately $42,586. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Frederick C. Goerner sold 6,958 shares of Microsemi Corp. stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $39.62, for a total transaction of $275,675.96. Following the sale, the vice president now owns 48,458 shares of the company’s stock, valued at approximately $1,919,905.96. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Westfield Capital Management Co. LP raised its stake in Microsemi Corp. by 109.0% in the second quarter. Westfield Capital Management Co. LP now owns 1,771,088 shares of the company’s stock valued at $57,879,000 after buying an additional 923,781 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in Microsemi Corp. during the third quarter valued at approximately $32,331,000. Bank of Montreal Can acquired a new stake in Microsemi Corp. during the second quarter valued at approximately $19,098,000. Systematic Financial Management LP raised its stake in Microsemi Corp. by 56.1% in the second quarter. Systematic Financial Management LP now owns 1,402,828 shares of the company’s stock valued at $45,844,000 after buying an additional 503,904 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in Microsemi Corp. during the third quarter valued at approximately $16,372,000.
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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