Microsemi Corp. (NASDAQ:MSCC) dropped 1.1% on Friday . The company traded as low as $39.95 and last traded at $39.95, with a volume of 368,948 shares trading hands. The stock had previously closed at $40.39.

MSCC has been the subject of a number of recent analyst reports. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Microsemi Corp. in a report on Saturday, June 25th. Drexel Hamilton lowered shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Mizuho raised their price objective on shares of Microsemi Corp. from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $46.00 price objective on shares of Microsemi Corp. in a report on Wednesday, June 29th. Finally, Zacks Investment Research raised shares of Microsemi Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $44.83.

The firm’s market cap is $4.54 billion. The stock has a 50-day moving average price of $38.31 and a 200-day moving average price of $35.48.

Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The firm earned $431.40 million during the quarter, compared to analyst estimates of $430.22 million. Microsemi Corp.’s quarterly revenue was up 36.0% compared to the same quarter last year. Analysts anticipate that Microsemi Corp. will post $3.02 earnings per share for the current year.

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

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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