Insider Selling: Microsemi Corp. (MSCC) CFO Sells 4,823 Shares of Stock
Microsemi Corp. (NASDAQ:MSCC) CFO John W. Hohener sold 4,823 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $38.51, for a total transaction of $185,733.73. Following the completion of the sale, the chief financial officer now directly owns 40,181 shares in the company, valued at approximately $1,547,370.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Microsemi Corp. (NASDAQ:MSCC) traded down 0.03% during midday trading on Friday, hitting $38.01. 839,942 shares of the stock were exchanged. 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 of $40.41 and a 200-day moving average of $36.58. The company’s market capitalization is $4.30 billion.
Microsemi Corp. (NASDAQ:MSCC) last released its earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 had revenue of $431.40 million for the quarter, compared to analysts’ expectations of $430.22 million. During the same quarter last year, the business earned $0.68 EPS. The firm’s revenue was up 36.0% compared to the same quarter last year. On average, equities analysts expect that Microsemi Corp. will post $3.02 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Microsemi Corp. by 4.1% in the first quarter. Wellington Management Group LLP now owns 2,061,318 shares of the company’s stock worth $78,969,000 after buying an additional 82,103 shares during the last quarter. State Street Corp boosted its stake in Microsemi Corp. by 72.2% in the first quarter. State Street Corp now owns 3,787,545 shares of the company’s stock worth $145,102,000 after buying an additional 1,587,798 shares during the last quarter. Geode Capital Management LLC boosted its stake in Microsemi Corp. by 17.8% in the first quarter. Geode Capital Management LLC now owns 816,236 shares of the company’s stock worth $31,270,000 after buying an additional 123,471 shares during the last quarter. Riverhead Capital Management LLC boosted its stake in Microsemi Corp. by 8.6% in the first quarter. Riverhead Capital Management LLC now owns 23,030 shares of the company’s stock worth $882,000 after buying an additional 1,830 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Microsemi Corp. by 4.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 612,579 shares of the company’s stock worth $20,019,000 after buying an additional 26,542 shares during the last quarter.
MSCC has been the topic of several research reports. Susquehanna initiated coverage on shares of Microsemi Corp. in a research report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price target on the stock. Stifel Nicolaus upped their target price on shares of Microsemi Corp. from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, September 9th. RBC Capital Markets reaffirmed a “top pick” rating and set a $48.00 target price (up previously from $47.00) on shares of Microsemi Corp. in a report on Sunday, July 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $50.00 target price (up previously from $45.00) on shares of Microsemi Corp. in a report on Friday, July 29th. Finally, TheStreet raised shares of Microsemi Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $46.79.
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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