$1.08 EPS Expected for Microsemi Corporation (MSCC) This Quarter
Wall Street analysts predict that Microsemi Corporation (NASDAQ:MSCC) will post $1.08 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Microsemi Corporation’s earnings. The lowest EPS estimate is $1.08 and the highest is $1.09. Microsemi Corporation posted earnings per share of $0.91 in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.7%. The business is scheduled to issue its next earnings results on Thursday, November 9th.
On average, analysts expect that Microsemi Corporation will report full-year earnings of $3.84 per share for the current year, with EPS estimates ranging from $3.84 to $3.85. For the next financial year, analysts expect that the business will post earnings of $4.31 per share, with EPS estimates ranging from $4.04 to $4.49. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Microsemi Corporation.
Microsemi Corporation (NASDAQ:MSCC) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.18. The company had revenue of $458.10 million during the quarter, compared to analyst estimates of $457.87 million. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 earnings per share.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Microsemi Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $58.00.
Shares of Microsemi Corporation (NASDAQ:MSCC) remained flat at $52.60 during mid-day trading on Friday. 469,639 shares of the company were exchanged. Microsemi Corporation has a one year low of $37.11 and a one year high of $57.97. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 53.24 and a beta of 1.18. The firm has a 50 day moving average price of $49.89 and a 200-day moving average price of $49.83.
Microsemi Corporation announced that its board has initiated a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 43% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, VP Frederick C. Goerner sold 1,500 shares of Microsemi Corporation stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $50.12, for a total value of $75,180.00. Following the sale, the vice president now owns 60,436 shares of the company’s stock, valued at approximately $3,029,052.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Robert Anderson sold 1,000 shares of Microsemi Corporation stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $51.08, for a total transaction of $51,080.00. Following the completion of the sale, the director now directly owns 15,113 shares in the company, valued at approximately $771,972.04. The disclosure for this sale can be found here. Insiders sold a total of 11,650 shares of company stock worth $600,076 in the last three months. 0.57% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in Microsemi Corporation during the 2nd quarter worth $280,000. WINTON GROUP Ltd boosted its stake in Microsemi Corporation by 80.6% during the 2nd quarter. WINTON GROUP Ltd now owns 85,361 shares of the semiconductor company’s stock worth $3,995,000 after purchasing an additional 38,090 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Microsemi Corporation by 2,293.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 53,724 shares of the semiconductor company’s stock worth $2,514,000 after purchasing an additional 51,479 shares during the last quarter. Delphi Management Inc. MA boosted its stake in Microsemi Corporation by 5.8% during the 2nd quarter. Delphi Management Inc. MA now owns 51,287 shares of the semiconductor company’s stock worth $2,400,000 after purchasing an additional 2,811 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in Microsemi Corporation by 3.1% during the 2nd quarter. Scotia Capital Inc. now owns 28,970 shares of the semiconductor company’s stock worth $1,356,000 after purchasing an additional 874 shares during the last quarter. 98.47% of the stock is currently owned by hedge funds and other institutional investors.
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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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