James J. Peterson Sells 12,935 Shares of Microsemi Corp. (MSCC) Stock
Microsemi Corp. (NASDAQ:MSCC) Chairman James J. Peterson sold 12,935 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $38.51, for a total value of $498,126.85. Following the completion of the transaction, the chairman now directly owns 137,865 shares of the company’s stock, valued at approximately $5,309,181.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Microsemi Corp. (NASDAQ:MSCC) opened at 37.73 on Tuesday. Microsemi Corp. has a 12 month low of $28.91 and a 12 month high of $42.64. The company has a 50-day moving average price of $40.36 and a 200 day moving average price of $36.55. The stock’s market capitalization is $4.27 billion.
Microsemi Corp. (NASDAQ:MSCC) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. The firm earned $431.40 million during the quarter, compared to the consensus estimate of $430.22 million. Microsemi Corp. had a negative net margin of 3.12% and a positive return on equity of 17.32%. The firm’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. Equities analysts predict that Microsemi Corp. will post $3.02 earnings per share for the current year.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised Microsemi Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Macquarie reaffirmed a “positive” rating on shares of Microsemi Corp. in a report on Thursday, September 22nd. Drexel Hamilton cut Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. RBC Capital Markets reaffirmed a “top pick” rating and issued a $48.00 price target on shares of Microsemi Corp. in a report on Thursday, September 15th. Finally, Mizuho boosted their price objective on Microsemi Corp. from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. Microsemi Corp. has a consensus rating of “Buy” and an average target price of $46.79.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of 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 during the last quarter. BlackRock Fund Advisors increased its stake in shares of 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 during the last quarter. Boston Partners increased its stake in shares of 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 during the last quarter. State Street Corp increased its stake in shares of 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 during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 during the last quarter.
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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