Microsemi Corporation (NASDAQ:MSCC) Receives Coverage Optimism Rating of 0.13
News articles about Microsemi Corporation (NASDAQ:MSCC) have trended somewhat positive on Saturday, according to Accern Sentiment. The research group rates the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Microsemi Corporation earned a news impact score of 0.13 on Accern’s scale. Accern also gave press coverage about the semiconductor company an impact score of 45.0412926705737 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern Sentiment’s scoring:
- Microsemi Corporation (MSCC) Expected to Post Earnings of $0.94 Per Share (americanbankingnews.com)
- Insiders Are Selling – Microsemi Corporation (NASDAQ:MSCC) – Modern Readers (modernreaders.com)
- Microsemi Corporation (MSCC) Director Sells $51,080.00 in Stock (americanbankingnews.com)
- Microsemi Announces New Switchtec PAX Advanced Fabric PCIe Switch to Accelerate Evolution of Hyperconverged … – China Newswire (press release) (chinanewswire.com)
- Microsemi Collaboration Enables Mellanox and Other Industry Leaders to Deliver Innovative NVMe-oF Architectures – Markets Insider (markets.businessinsider.com)
Microsemi Corporation (NASDAQ MSCC) opened at 49.26 on Friday. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 49.86 and a beta of 1.16. Microsemi Corporation has a one year low of $37.11 and a one year high of $57.97. The stock’s 50 day moving average price is $50.43 and its 200-day moving average price is $50.80.
Microsemi Corporation (NASDAQ:MSCC) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.18. The firm had revenue of $458.10 million for the quarter, compared to the consensus estimate of $457.87 million. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. On average, equities research analysts expect that Microsemi Corporation will post $3.84 EPS for the current fiscal year.
Microsemi Corporation declared that its Board of Directors has approved a stock 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 repurchase up to 43% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, August 2nd. BidaskClub lowered Microsemi Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Wells Fargo & Company reiterated an “outperform” rating on shares of Microsemi Corporation in a report on Monday, July 31st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Microsemi Corporation in a report on Thursday, July 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $60.00 target price (up from $58.00) on shares of Microsemi Corporation in a report on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $58.42.
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In other Microsemi Corporation news, Chairman James J. Peterson sold 8,800 shares of Microsemi Corporation stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $47.93, for a total transaction of $421,784.00. Following the transaction, the chairman now directly owns 175,781 shares of the company’s stock, valued at approximately $8,425,183.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Robert Anderson sold 2,000 shares of Microsemi Corporation stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $50.56, for a total value of $101,120.00. Following the transaction, the director now directly owns 16,113 shares in the company, valued at $814,673.28. The disclosure for this sale can be found here. Insiders have sold a total of 35,908 shares of company stock worth $1,806,405 over the last ninety days. Company insiders own 0.57% of the company’s stock.
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.
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