Somewhat Positive News Coverage Somewhat Unlikely to Affect Microsemi Corporation (MSCC) Stock Price
Press coverage about Microsemi Corporation (NASDAQ:MSCC) has been trending somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Microsemi Corporation earned a coverage optimism score of 0.07 on Accern’s scale. Accern also assigned news headlines about the semiconductor company an impact score of 46.0181881557063 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Research Analysts’ Weekly Ratings Changes for Microsemi Corporation (MSCC) (lightwaveonline.com)
- Microsemi’s Cost-Optimized, Low Power Mid-Range PolarFire FPGAs Now Interoperate with Analog Devices’ AD9371 Wideband RF Transceiver (finance.yahoo.com)
- Microsemi Corp (MSCC) Hover Above Parabolic SAR – Financial News Review (finnewsreview.com)
- Microsemi Corporation (MSCC) registers a price change of -2.10% while Xcerra Corporation (XCRA) finishes with a … – Stocks Gallery (stocksgallery.com)
- Microsemi to Present at Deutsche Bank Technology Conference (finance.yahoo.com)
Microsemi Corporation (NASDAQ:MSCC) opened at 48.80 on Friday. Microsemi Corporation has a 12 month low of $37.11 and a 12 month high of $57.97. The firm’s 50-day moving average is $50.63 and its 200-day moving average is $50.13. The firm has a market capitalization of $5.65 billion, a PE ratio of 49.39 and a beta of 1.17.
Microsemi Corporation (NASDAQ:MSCC) last announced its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $457.87 million. During the same period in the prior year, the company earned $0.73 EPS. Microsemi Corporation’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Microsemi Corporation will post $3.84 EPS for the current year.
Microsemi Corporation announced that its Board of Directors has authorized a stock repurchase plan on Thursday, July 27th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 43% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Several analysts recently issued reports on MSCC shares. BidaskClub cut shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Royal Bank Of Canada restated a “top pick” rating and issued a $64.00 price objective on shares of Microsemi Corporation in a report on Monday, May 22nd. Raymond James Financial, Inc. initiated coverage on shares of Microsemi Corporation in a report on Friday, June 16th. They issued a “market perform” rating on the stock. Susquehanna Bancshares Inc set a $70.00 price objective on shares of Microsemi Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $62.00 target price on shares of Microsemi Corporation in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $58.00.
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In related news, insider Dennis R. Leibel sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $52.46, for a total transaction of $157,380.00. Following the completion of the sale, the insider now owns 7,369 shares of the company’s stock, valued at $386,577.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Robert Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $51.08, for a total value of $51,080.00. Following the sale, the director now directly owns 15,113 shares of the company’s stock, valued at approximately $771,972.04. The disclosure for this sale can be found here. In the last three months, insiders sold 11,650 shares of company stock valued at $600,076. 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.
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