Federated Investors Inc. PA boosted its position in shares of Microsemi Corporation (NASDAQ:MSCC) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,849,658 shares of the semiconductor company’s stock after buying an additional 71,131 shares during the period. Federated Investors Inc. PA owned 1.61% of Microsemi Corporation worth $86,563,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in shares of Microsemi Corporation by 138.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 153,558 shares of the semiconductor company’s stock valued at $7,187,000 after buying an additional 89,140 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Microsemi Corporation by 23.2% in the second quarter. Marshall Wace LLP now owns 26,617 shares of the semiconductor company’s stock valued at $1,251,000 after buying an additional 5,011 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Microsemi Corporation by 13.4% in the second quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after buying an additional 610 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Microsemi Corporation by 76.0% in the second quarter. BNP Paribas Arbitrage SA now owns 43,593 shares of the semiconductor company’s stock valued at $2,040,000 after buying an additional 18,829 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Microsemi Corporation by 0.7% in the second quarter. Comerica Bank now owns 173,122 shares of the semiconductor company’s stock valued at $9,153,000 after buying an additional 1,182 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.

Shares of Microsemi Corporation (NASDAQ:MSCC) opened at 48.15 on Tuesday. The firm has a market cap of $5.57 billion, a P/E ratio of 48.73 and a beta of 1.16. Microsemi Corporation has a 1-year low of $37.11 and a 1-year high of $57.97. The firm’s 50-day moving average is $50.78 and its 200-day moving average is $50.51.

Microsemi Corporation (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.18. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. The firm had revenue of $458.10 million for the quarter, compared to analyst estimates of $457.87 million. During the same period in the prior year, the firm posted $0.73 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts anticipate that Microsemi Corporation will post $3.79 EPS for the current fiscal year.

Microsemi Corporation announced that its board has initiated a stock repurchase program on Thursday, July 27th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase up to 43% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub downgraded shares of Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company restated an “outperform” rating on shares of Microsemi Corporation in a research note on Monday, July 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 price objective (up previously from $58.00) on shares of Microsemi Corporation in a research note on Sunday, July 30th. Finally, Susquehanna Bancshares Inc set a $70.00 price objective on shares of Microsemi Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Microsemi Corporation has a consensus rating of “Buy” and an average price target of $58.00.

In other Microsemi Corporation news, COO Paul H. Pickle sold 694 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $50.73, for a total value of $35,206.62. Following the transaction, the chief operating officer now directly owns 39,679 shares of the company’s stock, valued at approximately $2,012,915.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul F. Folino sold 1,650 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $52.57, for a total value of $86,740.50. Following the completion of the transaction, the director now directly owns 1,070 shares in the company, valued at $56,249.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,308 shares of company stock worth $1,095,933. Insiders own 0.57% of the company’s stock.

About Microsemi Corporation

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.

Institutional Ownership by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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