Microsemi Corp. (MSCC) COO Paul H. Pickle Sells 24,968 Shares
Microsemi Corp. (NASDAQ:MSCC) COO Paul H. Pickle sold 24,968 shares of Microsemi Corp. stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $41.95, for a total transaction of $1,047,407.60. Following the sale, the chief operating officer now owns 51,541 shares of the company’s stock, valued at approximately $2,162,144.95. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. Microsemi Corp. has a 52-week low of $28.91 and a 52-week high of $42.64. The stock’s market cap is $4.71 billion. The firm’s 50-day moving average is $40.63 and its 200 day moving average is $36.53.
Microsemi Corp. (NASDAQ:MSCC) last posted its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.01. Microsemi Corp. had a negative net margin of 3.12% and a positive return on equity of 17.32%. The firm earned $431.40 million during the quarter, compared to analysts’ expectations of $430.22 million. During the same period in the previous year, the business posted $0.68 EPS. The business’s revenue was up 36.0% compared to the same quarter last year. Analysts forecast that Microsemi Corp. will post $3.02 earnings per share for the current fiscal year.
A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Microsemi Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Macquarie reissued a “positive” rating on shares of Microsemi Corp. in a research report on Thursday, September 22nd. Drexel Hamilton downgraded shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. RBC Capital Markets reissued a “top pick” rating and set a $48.00 target price on shares of Microsemi Corp. in a research report on Thursday, September 15th. Finally, Mizuho raised their target price on shares of Microsemi Corp. from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $46.79.
Several institutional investors have recently bought and sold shares of MSCC. Telemus Capital LLC purchased a new position in Microsemi Corp. during the third quarter valued at about $230,000. Macquarie Group Ltd. boosted its position in Microsemi Corp. by 38.2% in the second quarter. Macquarie Group Ltd. now owns 582,107 shares of the company’s stock worth $19,023,000 after buying an additional 160,805 shares in the last quarter. Nomura Holdings Inc. bought a new position in Microsemi Corp. during the second quarter worth $284,000. Northwestern Mutual Investment Management Company LLC boosted its position in Microsemi Corp. by 0.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 19,527 shares of the company’s stock worth $638,000 after buying an additional 137 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new position in Microsemi Corp. during the second quarter worth $1,686,000. Hedge funds and other institutional investors 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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