Microsemi Corp. (NASDAQ:MSCC)’s share price gapped up before the market opened on Monday . The stock had previously closed at $34.68, but opened at $34.72. Microsemi Corp. shares last traded at $34.95, with a volume of 452,598 shares changing hands.

MSCC has been the subject of several research reports. SunTrust Banks Inc. restated a “buy” rating on shares of Microsemi Corp. in a research report on Saturday, June 25th. Zacks Investment Research lowered shares of Microsemi Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, March 29th. Needham & Company LLC restated a “buy” rating and set a $46.00 price objective on shares of Microsemi Corp. in a research report on Wednesday, June 29th. TheStreet lowered shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Microsemi Corp. in a research report on Friday, April 29th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $43.60.

The stock has a 50 day moving average price of $33.38 and a 200-day moving average price of $33.80. The company’s market capitalization is $3.96 billion.

Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The firm earned $444.30 million during the quarter, compared to analysts’ expectations of $444.68 million. Microsemi Corp.’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. On average, equities research analysts anticipate that Microsemi Corp. will post $2.95 EPS for the current fiscal year.

In other news, EVP Steven G. Litchfield acquired 15,750 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was purchased at an average cost of $31.91 per share, for a total transaction of $502,582.50. Following the acquisition, the executive vice president now owns 64,132 shares of the company’s stock, valued at $2,046,452.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Several large investors recently added to or reduced their stakes in MSCC. I.G. Investment Management LTD. raised its stake in Microsemi Corp. by 0.6% in the fourth quarter. I.G. Investment Management LTD. now owns 53,368 shares of the company’s stock worth $1,739,000 after buying an additional 329 shares during the period. Comerica Bank raised its stake in Microsemi Corp. by 0.5% in the fourth quarter. Comerica Bank now owns 99,516 shares of the company’s stock worth $2,886,000 after buying an additional 499 shares during the period. Foresters Investment Management Company Inc. raised its stake in Microsemi Corp. by 1.1% in the fourth quarter. Foresters Investment Management Company Inc. now owns 185,900 shares of the company’s stock worth $6,058,000 after buying an additional 2,000 shares during the period. Pinnacle Associates Ltd. raised its stake in Microsemi Corp. by 2.4% in the fourth quarter. Pinnacle Associates Ltd. now owns 129,025 shares of the company’s stock worth $4,205,000 after buying an additional 3,050 shares during the period. Finally, State of Wisconsin Investment Board raised its stake in Microsemi Corp. by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 374,644 shares of the company’s stock worth $12,210,000 after buying an additional 3,189 shares during the period.

Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans.

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