John W. Hohener Sells 20,403 Shares of Microsemi Corp. (MSCC) Stock
Microsemi Corp. (NASDAQ:MSCC) CFO John W. Hohener sold 20,403 shares of the stock in a transaction on Friday, October 7th. The stock was sold at an average price of $41.95, for a total value of $855,905.85. Following the sale, the chief financial officer now owns 47,211 shares in the company, valued at approximately $1,980,501.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. Microsemi Corp. has a 1-year low of $28.91 and a 1-year high of $42.64. The firm has a 50-day moving average price of $40.63 and a 200 day moving average price of $36.53. The firm’s market cap is $4.71 billion.
Microsemi Corp. (NASDAQ:MSCC) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. The business had revenue of $431.40 million for the quarter, compared to the consensus estimate of $430.22 million. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities analysts predict that Microsemi Corp. will post $3.02 earnings per share for the current year.
Several brokerages have recently commented on MSCC. Zacks Investment Research cut Microsemi Corp. from a “hold” rating to a “sell” rating in a report on Tuesday. Susquehanna assumed coverage on Microsemi Corp. in a report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price target on the stock. Macquarie reiterated a “positive” rating on shares of Microsemi Corp. in a report on Thursday, September 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target (up previously from $46.00) on shares of Microsemi Corp. in a report on Friday, September 9th. Finally, Stifel Nicolaus raised their price target on Microsemi Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. Microsemi Corp. presently has a consensus rating of “Buy” and a consensus price target of $46.79.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Microsemi Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 8,422,882 shares of the company’s stock worth $275,260,000 after buying an additional 315,481 shares during the last quarter. BlackRock Fund Advisors increased its position in Microsemi Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 5,994,025 shares of the company’s stock valued at $195,885,000 after buying an additional 318,543 shares in the last quarter. Boston Partners increased its position in Microsemi Corp. by 6.5% in the second quarter. Boston Partners now owns 5,990,427 shares of the company’s stock valued at $195,768,000 after buying an additional 364,661 shares in the last quarter. State Street Corp increased its position in Microsemi Corp. by 0.7% in the second quarter. State Street Corp now owns 3,815,707 shares of the company’s stock valued at $124,694,000 after buying an additional 28,162 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Microsemi Corp. by 3.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,550,047 shares of the company’s stock valued at $116,016,000 after buying an additional 112,731 shares in the last quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.
Microsemi Corp. Company Profile
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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