Royal Bank of Canada restated their top pick rating on shares of Microsemi Corporation (NASDAQ:MSCC) in a report issued on Monday, May 22nd. Royal Bank of Canada currently has a $64.00 target price on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Microsemi Corporation from a c+ rating to a b+ rating in a research report on Thursday, April 27th. Needham & Company LLC decreased their target price on shares of Microsemi Corporation from $63.00 to $61.00 and set a buy rating for the company in a research report on Friday, April 28th. Stifel Nicolaus upped their target price on shares of Microsemi Corporation from $60.00 to $65.00 and gave the stock a buy rating in a research report on Friday, January 27th. Zacks Investment Research upgraded shares of Microsemi Corporation from a sell rating to a hold rating in a research report on Wednesday, February 1st. Finally, Mizuho upped their target price on shares of Microsemi Corporation from $60.00 to $62.00 and gave the stock a buy rating in a research report on Friday, January 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $55.18.

Microsemi Corporation (NASDAQ:MSCC) traded down 0.04% during trading on Monday, hitting $48.03. The company had a trading volume of 1,541,919 shares. The company has a market cap of $5.55 billion, a PE ratio of 25.40 and a beta of 1.14. Microsemi Corporation has a 12 month low of $29.68 and a 12 month high of $57.97. The company’s 50 day moving average price is $49.25 and its 200-day moving average price is $52.18.

Microsemi Corporation (NASDAQ:MSCC) last posted its earnings results on Thursday, April 27th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.73 by $0.18. Microsemi Corporation had a net margin of 12.77% and a return on equity of 18.77%. The firm had revenue of $442.90 million during the quarter, compared to analysts’ expectations of $439.79 million. During the same quarter in the prior year, the firm earned $0.67 EPS. Microsemi Corporation’s quarterly revenue was down .3% on a year-over-year basis. Equities analysts expect that Microsemi Corporation will post $3.82 earnings per share for the current year.

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In related news, SVP David Goren sold 8,464 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $51.36, for a total value of $434,711.04. Following the completion of the sale, the senior vice president now owns 22,320 shares in the company, valued at approximately $1,146,355.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Frederick C. Goerner sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $50.89, for a total transaction of $101,780.00. Following the completion of the sale, the vice president now owns 61,782 shares of the company’s stock, valued at approximately $3,144,085.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,184 shares of company stock valued at $2,627,341. 0.57% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Microsemi Corporation by 24,626.0% in the first quarter. BlackRock Inc. now owns 12,207,460 shares of the semiconductor company’s stock valued at $629,050,000 after buying an additional 12,158,089 shares in the last quarter. Vanguard Group Inc. raised its position in Microsemi Corporation by 5.9% in the first quarter. Vanguard Group Inc. now owns 9,717,771 shares of the semiconductor company’s stock valued at $500,758,000 after buying an additional 542,772 shares in the last quarter. State Street Corp raised its position in Microsemi Corporation by 3.4% in the first quarter. State Street Corp now owns 3,816,410 shares of the semiconductor company’s stock valued at $196,656,000 after buying an additional 127,094 shares in the last quarter. Bank of New York Mellon Corp raised its position in Microsemi Corporation by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 3,021,324 shares of the semiconductor company’s stock valued at $155,690,000 after buying an additional 370,360 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Microsemi Corporation by 46.8% in the first quarter. Wells Fargo & Company MN now owns 2,648,870 shares of the semiconductor company’s stock valued at $136,496,000 after buying an additional 844,586 shares in the last quarter.

Microsemi Corporation Company Profile

Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets.

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