Microsemi Corp. (MSCC) VP Frederick C. Goerner Sells 6,958 Shares
Microsemi Corp. (NASDAQ:MSCC) VP Frederick C. Goerner sold 6,958 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $39.62, for a total value of $275,675.96. Following the sale, the vice president now directly owns 48,458 shares of the company’s stock, valued at $1,919,905.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 37.92 on Wednesday. The firm’s 50 day moving average price is $40.30 and its 200 day moving average price is $36.54. The stock’s market cap is $4.29 billion. Microsemi Corp. has a 52-week low of $28.91 and a 52-week high of $42.64.
Microsemi Corp. (NASDAQ:MSCC) last released its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 firm earned $431.40 million during the quarter, compared to analyst estimates of $430.22 million. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 36.0% on a year-over-year basis. On average, analysts expect that Microsemi Corp. will post $3.02 EPS for the current year.
A number of analysts have commented on the company. Mizuho reissued a “buy” rating and set a $46.00 price objective on shares of Microsemi Corp. in a report on Monday, September 12th. Needham & Company LLC reaffirmed a “buy” rating on shares of Microsemi Corp. in a report on Friday, July 29th. Zacks Investment Research lowered Microsemi Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. RBC Capital Markets reaffirmed a “top pick” rating and issued a $48.00 target price (up from $47.00) on shares of Microsemi Corp. in a report on Sunday, July 31st. Finally, Susquehanna started coverage on Microsemi Corp. in a report on Tuesday, September 20th. They issued a “positive” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.79.
Institutional investors have recently added to or reduced their stakes in the stock. Nicholas Investment Partners LP acquired a new position in Microsemi Corp. during the first quarter valued at about $3,866,000. Riverhead Capital Management LLC raised its position in Microsemi Corp. by 8.6% in the first quarter. Riverhead Capital Management LLC now owns 23,030 shares of the company’s stock valued at $882,000 after buying an additional 1,830 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Microsemi Corp. by 1.7% in the first quarter. UBS Asset Management Americas Inc. now owns 75,011 shares of the company’s stock valued at $2,873,000 after buying an additional 1,278 shares during the last quarter. Rafferty Asset Management LLC acquired a new position in Microsemi Corp. during the first quarter valued at about $385,000. Finally, State Street Corp raised its position in Microsemi Corp. by 72.2% in the first quarter. State Street Corp now owns 3,787,545 shares of the company’s stock valued at $145,102,000 after buying an additional 1,587,798 shares during the last quarter.
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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