Eagle Boston Investment Management Inc. boosted its position in shares of Microsemi Corporation (NASDAQ:MSCC) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 362,652 shares of the semiconductor company’s stock after buying an additional 6,262 shares during the period. Microsemi Corporation accounts for 1.8% of Eagle Boston Investment Management Inc.’s investment portfolio, making the stock its 6th largest position. Eagle Boston Investment Management Inc. owned about 0.31% of Microsemi Corporation worth $16,972,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Trexquant Investment LP boosted its position in shares of Microsemi Corporation by 0.4% in the second quarter. Trexquant Investment LP now owns 7,800 shares of the semiconductor company’s stock worth $365,000 after buying an additional 34 shares during the period. Somerset Trust Co boosted its position in shares of Microsemi Corporation by 0.4% in the second quarter. Somerset Trust Co now owns 11,343 shares of the semiconductor company’s stock worth $531,000 after buying an additional 47 shares during the period. Dubuque Bank & Trust Co. boosted its position in shares of Microsemi Corporation by 3.1% in the second quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock worth $144,000 after buying an additional 93 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Microsemi Corporation by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 19,871 shares of the semiconductor company’s stock worth $1,024,000 after buying an additional 112 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Microsemi Corporation by 1.0% in the second quarter. Pacer Advisors Inc. now owns 14,718 shares of the semiconductor company’s stock worth $689,000 after buying an additional 141 shares during the period. Institutional investors own 98.58% of the company’s stock.

Shares of Microsemi Corporation (MSCC) traded up 0.2250% during trading on Thursday, hitting $50.1125. The stock had a trading volume of 96,533 shares. 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 $5.80 billion, a price-to-earnings ratio of 50.7212 and a beta of 1.16. Microsemi Corporation has a 12-month low of $37.11 and a 12-month high of $57.97.

Microsemi Corporation (NASDAQ:MSCC) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share 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 period last year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts predict that Microsemi Corporation will post $3.84 earnings per share for the current fiscal year.

Microsemi Corporation announced that its board has authorized 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 repurchase up to 43% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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A number of equities analysts recently commented on the company. Zacks Investment Research cut Microsemi Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Susquehanna Bancshares Inc set a $70.00 target price on Microsemi Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Royal Bank Of Canada cut Microsemi Corporation from a “top pick” rating to an “outperform” rating and lowered their target price for the company from $64.00 to $58.00 in a report on Wednesday, June 14th. KeyCorp assumed coverage on Microsemi Corporation in a report on Monday, July 24th. They set an “overweight” rating and a $61.00 target price for the company. Finally, BMO Capital Markets restated 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, two have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $58.00.

In related news, insider Dennis R. Leibel sold 3,000 shares of Microsemi Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $50.76, for a total transaction of $152,280.00. Following the sale, the insider now directly owns 4,369 shares of the company’s stock, valued at $221,770.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Frederick C. Goerner sold 1,500 shares of Microsemi Corporation stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.61, for a total value of $77,415.00. Following the sale, the vice president now directly owns 61,936 shares in the company, valued at $3,196,516.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,308 shares of company stock worth $1,095,933. 0.57% of the stock is owned by company insiders.

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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