Microsemi Corp. (NASDAQ:MSCC) reached a new 52-week high during trading on Friday . The company traded as high as $40.52 and last traded at $40.02, with a volume of 340,952 shares trading hands. The stock had previously closed at $39.74.

A number of equities research analysts have recently commented on MSCC shares. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Microsemi Corp. in a research note on Saturday, June 25th. TheStreet lowered shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Microsemi Corp. in a research note on Wednesday, June 29th. Zacks Investment Research raised shares of Microsemi Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, RBC Capital Markets reaffirmed a “top pick” rating and issued a $48.00 price objective (up from $47.00) on shares of Microsemi Corp. in a research note on Sunday, July 31st. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $44.50.

The firm’s market cap is $4.54 billion. The firm has a 50-day moving average of $36.44 and a 200-day moving average of $34.82.

Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01. During the same period last year, the business posted $0.68 earnings per share. The business had revenue of $431.40 million for the quarter, compared to analysts’ expectations of $430.22 million. The company’s revenue was up 36.0% compared to the same quarter last year. Analysts forecast that Microsemi Corp. will post $3.02 EPS for the current year.

In other news, VP Frederick C. Goerner sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $39.39, for a total value of $157,560.00. Following the transaction, the vice president now owns 52,561 shares in the company, valued at $2,070,377.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul F. Folino sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $39.80, for a total transaction of $59,700.00. Following the completion of the transaction, the director now owns 1,070 shares in the company, valued at approximately $42,586. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have recently modified their holdings of the company. BlackRock Advisors LLC boosted its position in shares of Microsemi Corp. by 10.9% in the fourth quarter. BlackRock Advisors LLC now owns 606,966 shares of the company’s stock valued at $19,781,000 after buying an additional 59,751 shares in the last quarter. US Bancorp DE boosted its position in shares of Microsemi Corp. by 25.3% in the fourth quarter. US Bancorp DE now owns 40,660 shares of the company’s stock valued at $1,324,000 after buying an additional 8,215 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Microsemi Corp. by 6.0% in the fourth quarter. Principal Financial Group Inc. now owns 657,010 shares of the company’s stock valued at $21,411,000 after buying an additional 37,072 shares in the last quarter.

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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