JPMorgan Chase & Co. Has $5,341,000 Stake in Microsemi Corp. (MSCC)
JPMorgan Chase & Co. raised its stake in Microsemi Corp. (NASDAQ:MSCC) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 163,432 shares of the company’s stock after buying an additional 1,190 shares during the period. JPMorgan Chase & Co. owned 0.14% of Microsemi Corp. worth $5,341,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of MSCC. 1st Global Advisors Inc. increased its stake in Microsemi Corp. by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 9,239 shares of the company’s stock valued at $302,000 after buying an additional 36 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its stake in shares of Microsemi Corp. by 0.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 31,461 shares of the company’s stock worth $1,205,000 after buying an additional 161 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Microsemi Corp. by 1.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,917 shares of the company’s stock worth $840,000 after buying an additional 275 shares during the period. State Treasurer State of Michigan increased its stake in shares of Microsemi Corp. by 1.1% in the second quarter. State Treasurer State of Michigan now owns 45,400 shares of the company’s stock worth $1,484,000 after buying an additional 500 shares during the period. Finally, I.G. Investment Management LTD. increased its stake in shares of Microsemi Corp. by 1.3% in the second quarter. I.G. Investment Management LTD. now owns 52,969 shares of the company’s stock worth $1,731,000 after buying an additional 675 shares during the period.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 3.131% on Thursday, reaching $37.275. The company’s stock had a trading volume of 322,643 shares. Microsemi Corp. has a 1-year low of $28.91 and a 1-year high of $42.64. The stock’s market cap is $4.22 billion. The company’s 50 day moving average is $40.54 and its 200-day moving average is $36.57.
Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company earned $431.40 million during the quarter, compared to analyst estimates of $430.22 million. During the same quarter last year, the business posted $0.68 EPS. Microsemi Corp.’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, equities analysts predict that Microsemi Corp. will post $3.02 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on MSCC. Zacks Investment Research downgraded Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $50.00 price objective (up previously from $45.00) on shares of Microsemi Corp. in a report on Friday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price (up from $46.00) on shares of Microsemi Corp. in a research report on Friday, September 9th. Susquehanna began coverage on Microsemi Corp. in a research report on Tuesday, September 20th. They set a “positive” rating and a $50.00 target price on the stock. Finally, Drexel Hamilton lowered Microsemi Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. One 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 given a strong buy rating to the stock. Microsemi Corp. presently has a consensus rating of “Buy” and an average target price of $46.79.
In related news, VP Frederick C. Goerner sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $39.39, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman James J. Peterson sold 54,717 shares of the business’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $41.96, for a total transaction of $2,295,925.32. Following the transaction, the chairman now owns 196,551 shares in the company, valued at approximately $8,247,279.96. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.
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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