Microsemi Corp. (MSCC) SVP David Goren Sells 14,603 Shares
Microsemi Corp. (NASDAQ:MSCC) SVP David Goren sold 14,603 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $41.89, for a total value of $611,719.67. Following the completion of the transaction, the senior vice president now owns 30,524 shares of the company’s stock, valued at approximately $1,278,650.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The stock’s 50 day moving average price is $40.63 and its 200-day moving average price is $36.53. Microsemi Corp. has a 1-year low of $28.91 and a 1-year high of $42.64. The stock’s market capitalization is $4.71 billion.
Microsemi Corp. (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business earned $431.40 million during the quarter, compared to the consensus estimate of $430.22 million. Microsemi Corp. had a positive return on equity of 17.32% and a negative net margin of 3.12%. The firm’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Equities research analysts anticipate that Microsemi Corp. will post $3.02 EPS for the current fiscal year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research lowered Microsemi Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday. Susquehanna assumed coverage on Microsemi Corp. in a research report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price target for the company. Macquarie reiterated a “positive” rating on shares of Microsemi Corp. in a research 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 research report on Friday, September 9th. Finally, Stifel Nicolaus increased their price target on Microsemi Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and three 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 $46.79.
A number of 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 in the last quarter. BlackRock Fund Advisors increased its stake in Microsemi Corp. by 5.6% in the second quarter. BlackRock Fund Advisors now owns 5,994,025 shares of the company’s stock worth $195,885,000 after buying an additional 318,543 shares in the last quarter. Boston Partners increased its stake in Microsemi Corp. by 6.5% in the second quarter. Boston Partners now owns 5,990,427 shares of the company’s stock worth $195,768,000 after buying an additional 364,661 shares in the last quarter. State Street Corp increased its stake in Microsemi Corp. by 0.7% in the second quarter. State Street Corp now owns 3,815,707 shares of the company’s stock worth $124,694,000 after buying an additional 28,162 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake 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 worth $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.
About Microsemi Corp.
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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