Microsemi Corporation (NASDAQ:MSCC) insider Dennis R. Leibel sold 3,000 shares of Microsemi Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $52.46, for a total transaction of $157,380.00. Following the sale, the insider now directly owns 7,369 shares in the company, valued at approximately $386,577.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Microsemi Corporation (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.18. The company had revenue of $458.10 million for the quarter, compared to the consensus estimate of $457.87 million. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. Microsemi Corporation’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 earnings per share.

Microsemi Corporation declared that its board has authorized a share buyback program on Thursday, July 27th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 43% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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Several analysts have recently commented on MSCC shares. TheStreet raised shares of Microsemi Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Needham & Company LLC reduced their price target on shares of Microsemi Corporation from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) raised shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and reduced their price target for the company from $54.00 to $53.00 in a research report on Wednesday, July 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $62.00 price target on shares of Microsemi Corporation in a research report on Thursday, July 20th. Finally, BidaskClub raised shares of Microsemi Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $58.42.

A number of institutional investors have recently bought and sold shares of MSCC. BlackRock Inc. increased its position in Microsemi Corporation by 24,626.0% in the first quarter. BlackRock Inc. now owns 12,207,460 shares of the semiconductor company’s stock worth $629,050,000 after buying an additional 12,158,089 shares in the last quarter. Vanguard Group Inc. increased its position in Microsemi Corporation by 5.9% in the first quarter. Vanguard Group Inc. now owns 9,717,771 shares of the semiconductor company’s stock worth $500,758,000 after buying an additional 542,772 shares in the last quarter. State Street Corp increased its position in Microsemi Corporation by 3.4% in the first quarter. State Street Corp now owns 3,816,410 shares of the semiconductor company’s stock worth $196,656,000 after buying an additional 127,094 shares in the last quarter. Bank of New York Mellon Corp increased its position in Microsemi Corporation by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 3,021,324 shares of the semiconductor company’s stock worth $155,690,000 after buying an additional 370,360 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Microsemi Corporation by 46.8% in the first quarter. Wells Fargo & Company MN now owns 2,648,870 shares of the semiconductor company’s stock worth $136,496,000 after buying an additional 844,586 shares in the last quarter. 99.82% of the stock is currently owned by institutional investors.

About Microsemi Corporation

Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets.

Insider Buying and Selling by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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