Microsemi Corp. (MSCC) Shares Bought by Royal Bank of Canada
Royal Bank of Canada increased its position in shares of Microsemi Corp. (NASDAQ:MSCC) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,275,139 shares of the company’s stock after buying an additional 115,348 shares during the period. Royal Bank of Canada owned 1.13% of Microsemi Corp. worth $41,671,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in MSCC. Westfield Capital Management Co. LP increased its position in shares of 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 worth $57,879,000 after buying an additional 923,781 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Microsemi Corp. during the second quarter worth about $19,098,000. Systematic Financial Management LP increased its position in shares of Microsemi Corp. by 56.1% in the second quarter. Systematic Financial Management LP now owns 1,402,828 shares of the company’s stock worth $45,844,000 after buying an additional 503,904 shares in the last quarter. Boston Partners increased its position in shares of 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 in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Microsemi Corp. by 662.2% in the second quarter. Nuveen Asset Management LLC now owns 402,970 shares of the company’s stock worth $13,169,000 after buying an additional 350,101 shares in the last quarter.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 0.29% on Friday, reaching $54.30. 1,558,856 shares of the company’s stock were exchanged. The company’s market capitalization is $6.10 billion. Microsemi Corp. has a 12 month low of $28.91 and a 12 month high of $54.95. The firm’s 50 day moving average price is $43.38 and its 200-day moving average price is $37.89.
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, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.01. The firm had revenue of $450.10 million for the quarter, compared to the consensus estimate of $448.07 million. Microsemi Corp. had a positive return on equity of 17.86% 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 quarter in the previous year, the company earned $0.73 EPS. On average, equities analysts anticipate that Microsemi Corp. will post $3.81 EPS for the current year.
A number of equities analysts have recently issued reports on MSCC shares. SunTrust Banks Inc. reiterated a “buy” rating and issued a $51.00 price target on shares of Microsemi Corp. in a report on Saturday, October 29th. Zacks Investment Research upgraded shares of Microsemi Corp. from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, September 27th. TheStreet upgraded shares of Microsemi Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Deutsche Bank AG began coverage on shares of Microsemi Corp. in a report on Tuesday, November 8th. They set a “buy” rating and a $60.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating on shares of Microsemi Corp. in a report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Microsemi Corp. has a consensus rating of “Buy” and an average price target of $49.00.
In other news, VP Frederick C. Goerner sold 4,659 shares of the company’s 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 transaction, the vice president now owns 40,644 shares in the company, valued at approximately $1,542,439.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Paul H. Pickle sold 102,142 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $46.82, for a total value of $4,782,288.44. Following the completion of the transaction, the chief operating officer now owns 138,525 shares in the company, valued at approximately $6,485,740.50. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
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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