Advisors Asset Management Inc. lowered its stake in shares of Microsemi Corporation (NASDAQ:MSCC) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,768 shares of the semiconductor company’s stock after selling 3,550 shares during the period. Advisors Asset Management Inc.’s holdings in Microsemi Corporation were worth $1,112,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of 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 during the period. Vanguard Group Inc. raised its stake in shares of 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 during the period. State Street Corp raised its stake in shares of 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 during the period. Bank of New York Mellon Corp raised its stake in shares of 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 during the period. Finally, Wells Fargo & Company MN raised its stake in shares of 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 during the period. 98.58% of the stock is currently owned by institutional investors.

Microsemi Corporation (MSCC) opened at 49.00 on Tuesday. Microsemi Corporation has a 12 month low of $37.11 and a 12 month high of $57.97. The stock has a 50 day moving average of $50.87 and a 200-day moving average of $50.41. The firm has a market cap of $5.67 billion, a P/E ratio of 49.60 and a beta of 1.16.

Microsemi Corporation (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping 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 business had revenue of $458.10 million for the quarter, compared to the consensus estimate of $457.87 million. During the same quarter in the prior year, the company earned $0.73 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts predict that Microsemi Corporation will post $3.79 earnings per share for the current fiscal year.

Microsemi Corporation declared that its board has initiated a share repurchase program on Thursday, July 27th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 43% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

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MSCC has been the topic of several research reports. BidaskClub lowered shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $64.00 price target on shares of Microsemi Corporation in a report on Monday, May 22nd. Raymond James Financial, Inc. started coverage on shares of Microsemi Corporation in a report on Friday, June 16th. They set a “market perform” rating on the stock. Susquehanna Bancshares Inc set a $70.00 target price on shares of Microsemi Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, BMO Capital Markets reissued a “buy” rating and set a $62.00 target price on shares of Microsemi Corporation in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. Microsemi Corporation has a consensus rating of “Buy” and a consensus price target of $58.00.

In other news, insider Dennis R. Leibel sold 3,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $50.76, for a total transaction of $152,280.00. Following the transaction, the insider now owns 4,369 shares of the company’s stock, valued at approximately $221,770.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Robert Anderson sold 2,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $50.56, for a total value of $101,120.00. Following the transaction, the director now directly owns 16,113 shares in the company, valued at approximately $814,673.28. The disclosure for this sale can be found here. Insiders have sold a total of 21,308 shares of company stock worth $1,095,933 in the last three months. Corporate 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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