Vanguard Group Inc. trimmed its position in Microsemi Corporation (NASDAQ:MSCC) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,575,929 shares of the semiconductor company’s stock after selling 141,842 shares during the period. Vanguard Group Inc. owned approximately 8.28% of Microsemi Corporation worth $448,154,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MSCC. Russell Investments Group Ltd. lifted its holdings in shares of Microsemi Corporation by 9.5% in the first quarter. Russell Investments Group Ltd. now owns 43,244 shares of the semiconductor company’s stock valued at $2,228,000 after purchasing an additional 3,763 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of Microsemi Corporation by 1,319.0% in the first quarter. UBS Asset Management Americas Inc. now owns 561,159 shares of the semiconductor company’s stock valued at $28,917,000 after purchasing an additional 521,612 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Microsemi Corporation in the first quarter valued at about $1,344,000. JPMorgan Chase & Co. lifted its holdings in shares of Microsemi Corporation by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 96,507 shares of the semiconductor company’s stock valued at $4,973,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Microsemi Corporation by 0.3% in the first quarter. Prudential Financial Inc. now owns 76,840 shares of the semiconductor company’s stock valued at $3,960,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 98.47% of the company’s stock.

A number of analysts have recently commented on MSCC shares. Zacks Investment Research upgraded Microsemi Corporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, September 26th. BidaskClub downgraded Microsemi Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Raymond James Financial, Inc. assumed coverage on Microsemi Corporation in a research report on Friday, June 16th. They issued a “market perform” rating on the stock. Susquehanna Bancshares Inc set a $70.00 target price on Microsemi Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $62.00 target price on shares of Microsemi Corporation in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $58.00.

Microsemi Corporation (MSCC) opened at 52.93 on Thursday. The firm’s 50-day moving average price is $49.84 and its 200-day moving average price is $49.81. The firm has a market cap of $6.12 billion, a P/E ratio of 53.57 and a beta of 1.18. Microsemi Corporation has a 12 month low of $37.11 and a 12 month high of $57.97.

Microsemi Corporation (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $457.87 million. During the same quarter last year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Microsemi Corporation will post $3.84 EPS for the current fiscal year.

Microsemi Corporation declared that its board has approved a stock buyback 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 an indication that the company’s leadership believes its shares are undervalued.

In other Microsemi Corporation news, insider Dennis R. Leibel sold 3,000 shares of Microsemi Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $52.46, for a total transaction of $157,380.00. Following the transaction, the insider now owns 7,369 shares of the company’s stock, valued at approximately $386,577.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul F. Folino sold 1,650 shares of Microsemi Corporation stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $52.57, for a total transaction of $86,740.50. Following the transaction, the director now directly owns 1,070 shares in the company, valued at approximately $56,249.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,650 shares of company stock worth $600,076. Insiders own 0.57% of the company’s stock.

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Microsemi Corporation Company 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.

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

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