Oak Ridge Investments LLC reduced its position in Microsemi Corporation (NASDAQ:MSCC) by 44.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,513 shares of the semiconductor company’s stock after selling 44,861 shares during the quarter. Oak Ridge Investments LLC’s holdings in Microsemi Corporation were worth $2,858,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Microsemi Corporation by 41.7% in the third quarter. Bank of New York Mellon Corp now owns 4,065,729 shares of the semiconductor company’s stock valued at $209,305,000 after acquiring an additional 1,196,836 shares during the period. Boston Partners raised its stake in shares of Microsemi Corporation by 0.8% during the third quarter. Boston Partners now owns 3,000,413 shares of the semiconductor company’s stock worth $154,461,000 after purchasing an additional 24,911 shares during the last quarter. FMR LLC raised its stake in shares of Microsemi Corporation by 9.1% during the second quarter. FMR LLC now owns 1,978,400 shares of the semiconductor company’s stock worth $92,589,000 after purchasing an additional 165,000 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Microsemi Corporation by 4.0% during the second 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 last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Microsemi Corporation by 85.8% during the second quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock worth $79,881,000 after purchasing an additional 788,129 shares during the last quarter. 99.84% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Microsemi Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. KeyCorp assumed coverage on Microsemi Corporation in a research note on Monday, July 24th. They set an “overweight” rating and a $61.00 price target for the company. BidaskClub cut Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Microsemi Corporation in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $61.11.

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Microsemi Corporation (NASDAQ:MSCC) traded down $0.16 during trading hours on Friday, reaching $53.02. The company’s stock had a trading volume of 410,408 shares, compared to its average volume of 985,618. The stock has a market capitalization of $6,250.00, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.29. Microsemi Corporation has a 1 year low of $46.08 and a 1 year high of $57.97.

Microsemi Corporation (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.01. The firm had revenue of $475.30 million during the quarter, compared to analysts’ expectations of $474.97 million. Microsemi Corporation had a return on equity of 20.82% and a net margin of 9.73%. Microsemi Corporation’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. sell-side analysts anticipate that Microsemi Corporation will post 3.58 EPS for the current fiscal year.

Microsemi Corporation declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 43% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Frederick C. Goerner sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $52.33, for a total value of $261,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Frederick C. Goerner sold 1,500 shares of the firm’s 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 completion of the transaction, the vice president now owns 60,436 shares of the company’s stock, valued at approximately $3,029,052.32. The disclosure for this sale can be found here. Insiders sold 235,053 shares of company stock valued at $12,537,927 in the last quarter. 0.57% of the stock is currently owned by company 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.

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

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