American Century Companies Inc. trimmed its stake in Microsemi Corporation (NASDAQ:MSCC) by 49.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,563 shares of the semiconductor company’s stock after selling 112,473 shares during the period. American Century Companies Inc. owned 0.10% of Microsemi Corporation worth $5,455,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in shares of Microsemi Corporation in the 2nd quarter worth about $1,977,000. Federated Investors Inc. PA lifted its position in shares of Microsemi Corporation by 4.0% in the 2nd quarter. Federated Investors Inc. PA now owns 1,849,658 shares of the semiconductor company’s stock worth $86,563,000 after purchasing an additional 71,131 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Microsemi Corporation by 138.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 153,558 shares of the semiconductor company’s stock worth $7,187,000 after purchasing an additional 89,140 shares during the period. Marshall Wace LLP lifted its position in shares of Microsemi Corporation by 23.2% in the 2nd quarter. Marshall Wace LLP now owns 26,617 shares of the semiconductor company’s stock worth $1,251,000 after purchasing an additional 5,011 shares during the period. Finally, BB&T Securities LLC lifted its position in shares of Microsemi Corporation by 13.4% in the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock worth $241,000 after purchasing an additional 610 shares during the period. 98.58% of the stock is owned by hedge funds and other institutional investors.

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Shares of Microsemi Corporation (NASDAQ MSCC) opened at 48.80 on Friday. The firm’s 50-day moving average is $50.63 and its 200-day moving average is $50.13. Microsemi Corporation has a 1-year low of $37.11 and a 1-year high of $57.97. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 49.39 and a beta of 1.17.

Microsemi Corporation (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $458.10 million during the quarter, compared to analyst estimates of $457.87 million. During the same period in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts forecast that Microsemi Corporation will post $3.84 earnings per share for the current fiscal year.

Microsemi Corporation announced that its board has approved a stock buyback plan on Thursday, July 27th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 43% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Several research firms have recently commented on MSCC. Zacks Investment Research raised shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday. BidaskClub cut shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Wells Fargo & Company reissued an “outperform” rating on shares of Microsemi Corporation in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $60.00 price target (up from $58.00) on shares of Microsemi Corporation in a research report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.00.

In related news, insider Dennis R. Leibel sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $52.46, for a total value of $157,380.00. Following the completion of the sale, the insider now directly owns 7,369 shares of the company’s stock, valued at $386,577.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Frederick C. Goerner sold 1,500 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $51.61, for a total transaction of $77,415.00. Following the sale, the vice president now directly owns 61,936 shares of the company’s stock, valued at $3,196,516.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,650 shares of company stock valued at $600,076. 0.57% of the stock is owned by insiders.

Microsemi Corporation 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.

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

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