Analysts Anticipate Microsemi Corporation (NASDAQ:MSCC) to Post $0.94 Earnings Per Share
Equities research analysts forecast that Microsemi Corporation (NASDAQ:MSCC) will post $0.94 earnings per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Microsemi Corporation’s earnings. The highest EPS estimate is $0.95 and the lowest is $0.94. Microsemi Corporation reported earnings per share of $0.77 in the same quarter last year, which would suggest a positive year over year growth rate of 22.1%. The firm is scheduled to issue its next earnings report on Thursday, November 9th.
On average, analysts expect that Microsemi Corporation will report full year earnings of $3.20 per share for the current fiscal year, with EPS estimates ranging from $3.18 to $3.22. For the next year, analysts forecast that the firm will report earnings of $3.62 per share, with EPS estimates ranging from $3.38 to $3.84. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Microsemi Corporation.
Microsemi Corporation (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.81 by $0.18. The business had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $457.87 million. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 EPS.
MSCC has been the subject of several research analyst reports. Royal Bank Of Canada lowered shares of Microsemi Corporation from a “top pick” rating to an “outperform” rating and lowered their price objective for the stock from $64.00 to $58.00 in a report on Wednesday, June 14th. BidaskClub lowered shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $54.00 to $53.00 in a report on Wednesday, July 5th. Raymond James Financial, Inc. initiated coverage on shares of Microsemi Corporation in a report on Friday, June 16th. They issued a “market perform” rating for the company. Finally, TheStreet upgraded shares of Microsemi Corporation from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Microsemi Corporation has an average rating of “Buy” and an average price target of $58.42.
In other news, Director Paul F. Folino sold 1,650 shares of Microsemi Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $52.57, for a total transaction of $86,740.50. Following the completion of the transaction, the director now directly owns 1,070 shares in the company, valued at $56,249.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Goren sold 8,464 shares of Microsemi Corporation stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $51.36, for a total transaction of $434,711.04. Following the transaction, the senior vice president now owns 22,320 shares of the company’s stock, valued at $1,146,355.20. The disclosure for this sale can be found here. Insiders have sold 35,908 shares of company stock valued at $1,806,405 over the last quarter. Company insiders own 0.57% of the company’s stock.
Several large investors have recently made changes to their positions in MSCC. Oppenheimer Asset Management Inc. purchased a new stake in shares of Microsemi Corporation during the first quarter valued at $113,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Microsemi Corporation during the first quarter valued at $153,000. Flinton Capital Management LLC increased its stake in shares of Microsemi Corporation by 5.3% in the first quarter. Flinton Capital Management LLC now owns 3,184 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 160 shares during the period. BTC Capital Management Inc. purchased a new stake in shares of Microsemi Corporation during the first quarter valued at $202,000. Finally, Quotient Investors LLC purchased a new stake in shares of Microsemi Corporation during the first quarter valued at $206,000. 99.82% of the stock is owned by institutional investors.
Shares of Microsemi Corporation (NASDAQ MSCC) traded down 0.34% during mid-day trading on Friday, reaching $49.26. 1,506,214 shares of the company’s stock traded hands. Microsemi Corporation has a 12-month low of $37.11 and a 12-month high of $57.97. The company’s 50 day moving average is $50.43 and its 200 day moving average is $50.80. The company has a market cap of $5.70 billion, a P/E ratio of 49.86 and a beta of 1.16.
Microsemi Corporation declared that its board has initiated a stock buyback plan on Thursday, July 27th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the semiconductor company to purchase up to 43% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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.
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