Telemus Capital LLC raised its stake in shares of Microsemi Corporation (NASDAQ:MSCC) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,585 shares of the semiconductor company’s stock after buying an additional 765 shares during the period. Telemus Capital LLC’s holdings in Microsemi Corporation were worth $355,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First National Bank of Omaha increased its stake in Microsemi Corporation by 31.3% in the first quarter. First National Bank of Omaha now owns 18,563 shares of the semiconductor company’s stock valued at $957,000 after buying an additional 4,430 shares during the last quarter. Capstone Asset Management Co. increased its stake in Microsemi Corporation by 4.0% in the first quarter. Capstone Asset Management Co. now owns 10,354 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 400 shares during the last quarter. Campbell Newman Asset Management Inc. increased its stake in Microsemi Corporation by 13.7% in the first quarter. Campbell Newman Asset Management Inc. now owns 5,953 shares of the semiconductor company’s stock valued at $307,000 after buying an additional 716 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Microsemi Corporation during the first quarter valued at about $252,000. Finally, Louisiana State Employees Retirement System increased its stake in Microsemi Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 29,100 shares of the semiconductor company’s stock valued at $1,500,000 after buying an additional 800 shares during the last quarter. 99.82% of the stock is owned by institutional investors and hedge funds.

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

Microsemi Corporation announced that its board has approved a stock repurchase plan on Thursday, July 27th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 43% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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Several analysts recently issued reports on MSCC shares. Needham & Company LLC reduced their price target on shares of Microsemi Corporation from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, April 28th. TheStreet raised shares of Microsemi Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Royal Bank Of Canada reissued a “top pick” rating and issued a $64.00 price target on shares of Microsemi Corporation in a research report on Monday, May 22nd. Raymond James Financial, Inc. started coverage on shares of Microsemi Corporation in a research report on Friday, June 16th. They issued a “market perform” rating for the company. Finally, BidaskClub downgraded shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $58.42.

In other news, COO Paul H. Pickle sold 694 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $50.73, for a total transaction of $35,206.62. Following the completion of the transaction, the chief operating officer now directly owns 39,679 shares in the company, valued at $2,012,915.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman James J. Peterson sold 8,800 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $48.79, for a total value of $429,352.00. Following the transaction, the chairman now owns 192,111 shares of the company’s stock, valued at $9,373,095.69. The disclosure for this sale can be found here. Insiders have sold 43,708 shares of company stock valued at $2,184,677 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Microsemi Corporation Company Profile

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.

Institutional Ownership by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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