Quantitative Systematic Strategies LLC Invests $238,000 in Microsemi Corp. (MSCC)
Quantitative Systematic Strategies LLC acquired a new stake in Microsemi Corp. (NASDAQ:MSCC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,581 shares of the company’s stock, valued at approximately $238,000.
A number of other large investors also recently added to or reduced their stakes in MSCC. LS Investment Advisors LLC increased its position in shares of Microsemi Corp. by 70.9% in the second quarter. LS Investment Advisors LLC now owns 6,800 shares of the company’s stock valued at $222,000 after buying an additional 2,820 shares during the last quarter. National Investment Services Inc. WI acquired a new position in shares of Microsemi Corp. during the second quarter valued at $271,000. 1st Global Advisors Inc. increased its position in shares of 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 during the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Microsemi Corp. during the first quarter valued at $385,000. Finally, Capstone Asset Management Co. increased its position in shares of Microsemi Corp. by 15.3% in the second quarter. Capstone Asset Management Co. now owns 10,774 shares of the company’s stock valued at $352,000 after buying an additional 1,430 shares during the last quarter.
Microsemi Corp. (NASDAQ:MSCC) traded down 0.03% during trading on Friday, hitting $38.01. The stock had a trading volume of 839,942 shares. The firm’s market cap is $4.30 billion. The stock’s 50-day moving average is $40.41 and its 200 day moving average is $36.58. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.
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, topping 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 company earned $431.40 million during the quarter, compared to analysts’ expectations of $430.22 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. Equities analysts anticipate that Microsemi Corp. will post $3.02 earnings per share for the current year.
Several research analysts recently commented on MSCC shares. Susquehanna started coverage on Microsemi Corp. in a research note on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price objective for the company. Stifel Nicolaus increased their price objective on Microsemi Corp. from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, September 9th. RBC Capital Markets reissued a “top pick” rating and issued a $48.00 price objective (up from $47.00) on shares of Microsemi Corp. in a research note on Sunday, July 31st. BMO Capital Markets reissued a “buy” rating and issued a $50.00 price objective (up from $45.00) on shares of Microsemi Corp. in a research note on Friday, July 29th. Finally, TheStreet raised Microsemi Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.79.
In related news, Chairman James J. Peterson sold 54,717 shares of the company’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $41.96, for a total value of $2,295,925.32. Following the completion of the transaction, the chairman now directly owns 196,551 shares in the company, valued at $8,247,279.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Goren sold 3,453 shares of the company’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $38.51, for a total value of $132,975.03. Following the completion of the transaction, the senior vice president now owns 25,491 shares of the company’s stock, valued at $981,658.41. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.
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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