Principal Financial Group Inc. lessened its holdings in Microsemi Corporation (NASDAQ:MSCC) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 492,855 shares of the semiconductor company’s stock after selling 1,208 shares during the quarter. Principal Financial Group Inc. owned approximately 0.43% of Microsemi Corporation worth $25,372,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MSCC. Capstone Asset Management Co. boosted its stake in Microsemi Corporation by 11.2% during the 2nd quarter. Capstone Asset Management Co. now owns 11,514 shares of the semiconductor company’s stock worth $539,000 after acquiring an additional 1,160 shares during the last quarter. Bank of Montreal Can boosted its stake in Microsemi Corporation by 0.8% during the 2nd quarter. Bank of Montreal Can now owns 225,717 shares of the semiconductor company’s stock worth $10,563,000 after acquiring an additional 1,843 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Microsemi Corporation by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 42,151 shares of the semiconductor company’s stock worth $1,973,000 after acquiring an additional 1,799 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Microsemi Corporation by 15.5% during the 2nd quarter. LS Investment Advisors LLC now owns 10,507 shares of the semiconductor company’s stock worth $492,000 after acquiring an additional 1,407 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in Microsemi Corporation by 25.4% during the 2nd quarter. Aperio Group LLC now owns 32,700 shares of the semiconductor company’s stock worth $1,530,000 after acquiring an additional 6,626 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on MSCC shares. KeyCorp started coverage on shares of Microsemi Corporation in a research note on Monday, July 24th. They issued an “overweight” rating and a $61.00 price target on the stock. BidaskClub raised shares of Microsemi Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Microsemi Corporation in a research note on Thursday, July 27th. Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 price target (up previously from $58.00) on shares of Microsemi Corporation in a research note on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Microsemi Corporation currently has an average rating of “Buy” and an average target price of $61.11.

Microsemi Corporation (MSCC) opened at $53.84 on Tuesday. The firm has a market cap of $6,230.00, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.19 and a beta of 1.16. Microsemi Corporation has a fifty-two week low of $46.08 and a fifty-two week high of $57.97. The company has a current ratio of 1.92, a quick ratio of 1.29 and a debt-to-equity ratio of 0.87.

Microsemi Corporation (NASDAQ:MSCC) last issued its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.01. The business had revenue of $475.30 million for the quarter, compared to the consensus estimate of $474.97 million. Microsemi Corporation had a net margin of 9.73% and a return on equity of 20.82%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. analysts anticipate that Microsemi Corporation will post 3.57 EPS for the current year.

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

In other news, VP Frederick C. Goerner sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $52.33, for a total value of $261,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Frederick C. Goerner sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $50.12, for a total transaction of $75,180.00. Following the completion of the sale, the vice president now directly owns 60,436 shares of the company’s stock, valued at approximately $3,029,052.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 235,053 shares of company stock worth $12,537,927. Corporate insiders own 0.57% of the company’s stock.

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

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