Bank of Montreal Can Has $10.56 Million Position in Microsemi Corporation (MSCC)
Bank of Montreal Can boosted its stake in shares of Microsemi Corporation (NASDAQ:MSCC) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,717 shares of the semiconductor company’s stock after buying an additional 1,843 shares during the period. Bank of Montreal Can owned 0.20% of Microsemi Corporation worth $10,563,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Capstone Asset Management Co. increased its stake in Microsemi Corporation by 11.2% in the second quarter. Capstone Asset Management Co. now owns 11,514 shares of the semiconductor company’s stock valued at $539,000 after buying an additional 1,160 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Microsemi Corporation by 409.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 123,820 shares of the semiconductor company’s stock valued at $6,381,000 after buying an additional 99,520 shares during the period. FNY Partners Fund LP increased its stake in Microsemi Corporation by 3,883.8% in the first quarter. FNY Partners Fund LP now owns 23,903 shares of the semiconductor company’s stock valued at $1,231,000 after buying an additional 23,303 shares during the period. Macquarie Group Ltd. increased its stake in Microsemi Corporation by 9.8% in the first quarter. Macquarie Group Ltd. now owns 925,523 shares of the semiconductor company’s stock valued at $47,692,000 after buying an additional 82,716 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Microsemi Corporation by 42.7% in the first quarter. AQR Capital Management LLC now owns 86,352 shares of the semiconductor company’s stock valued at $4,450,000 after buying an additional 25,860 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.
Microsemi Corporation (MSCC) traded down 0.22% on Friday, hitting $48.78. The stock had a trading volume of 701,810 shares. The stock’s 50-day moving average is $50.74 and its 200-day moving average is $50.59. The company has a market cap of $5.64 billion, a P/E ratio of 49.37 and a beta of 1.16. Microsemi Corporation has a 52-week low of $37.11 and a 52-week high of $57.97.
Microsemi Corporation (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.18. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The business had revenue of $458.10 million during the quarter, compared to analyst estimates of $457.87 million. During the same period last year, the business posted $0.73 earnings per share. Microsemi Corporation’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts expect that Microsemi Corporation will post $3.84 earnings per share for the current year.
Microsemi Corporation declared that its Board of Directors has authorized a share buyback plan on Thursday, July 27th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the semiconductor company to buy up to 43% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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Several research analysts have commented on the company. Zacks Investment Research raised Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, August 2nd. BidaskClub downgraded Microsemi Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Microsemi Corporation in a report on Monday, July 31st. Susquehanna Bancshares Inc set a $70.00 target price on Microsemi Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Microsemi Corporation in a report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $58.00.
In other Microsemi Corporation news, Chairman James J. Peterson sold 8,800 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $47.93, for a total value of $421,784.00. Following the completion of the sale, the chairman now directly owns 175,781 shares in the company, valued at $8,425,183.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Paul H. Pickle sold 694 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $50.73, for a total transaction of $35,206.62. Following the completion of the sale, the chief operating officer now owns 39,679 shares of the company’s stock, valued at $2,012,915.67. The disclosure for this sale can be found here. Insiders sold 30,108 shares of company stock valued at $1,517,717 over the last 90 days. 0.57% of the stock is currently owned by company insiders.
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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