Microsemi Co. (MSCC) Receives $53.90 Consensus Price Target from Brokerages

Shares of Microsemi Co. (NASDAQ:MSCC) have been given a consensus rating of “Buy” by the fourteen ratings firms that are covering the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $53.90.

MSCC has been the topic of a number of research reports. Zacks Investment Research cut Microsemi from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. TheStreet cut Microsemi from a “b” rating to a “c+” rating in a research report on Thursday, January 26th. Stifel Nicolaus raised their target price on Microsemi from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Mizuho raised their target price on Microsemi from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $63.00 price target on shares of Microsemi in a research note on Thursday, February 9th.

WARNING: This piece was first published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.chaffeybreeze.com/2017/05/19/microsemi-co-mscc-receives-consensus-recommendation-of-buy-from-analysts-updated.html.

In other news, Director Thomas Robert Anderson sold 1,000 shares of Microsemi stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $50.33, for a total value of $50,330.00. Following the completion of the transaction, the director now owns 18,113 shares in the company, valued at $911,627.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Frederick C. Goerner sold 2,000 shares of Microsemi stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $50.89, for a total transaction of $101,780.00. Following the completion of the transaction, the vice president now owns 61,782 shares of the company’s stock, valued at approximately $3,144,085.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,172 shares of company stock valued at $2,690,343. 0.57% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC acquired a new stake in Microsemi during the third quarter worth approximately $32,331,000. Cigna Investments Inc. New purchased a new position in shares of Microsemi during the fourth quarter valued at about $215,000. Oak Ridge Investments LLC raised its position in shares of Microsemi by 21.6% in the third quarter. Oak Ridge Investments LLC now owns 110,060 shares of the semiconductor company’s stock worth $4,620,000 after buying an additional 19,568 shares during the last quarter. Virginia Retirement Systems ET AL raised its position in shares of Microsemi by 4.1% in the third quarter. Virginia Retirement Systems ET AL now owns 48,300 shares of the semiconductor company’s stock worth $2,028,000 after buying an additional 1,900 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Microsemi during the fourth quarter worth $575,000.

Microsemi (NASDAQ:MSCC) traded up 0.60% during midday trading on Tuesday, reaching $48.23. The company’s stock had a trading volume of 131,360 shares. The stock’s 50 day moving average is $49.09 and its 200 day moving average is $52.31. Microsemi has a 12-month low of $29.68 and a 12-month high of $57.97. The stock has a market cap of $5.57 billion, a P/E ratio of 25.51 and a beta of 1.33.

Microsemi (NASDAQ:MSCC) last announced its quarterly earnings data on Thursday, April 27th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.18. The firm had revenue of $442.90 million for the quarter, compared to analysts’ expectations of $439.79 million. Microsemi had a positive return on equity of 17.36% and a negative net margin of 1.61%. Microsemi’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Analysts anticipate that Microsemi will post $3.82 earnings per share for the current year.

About Microsemi

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.

5 Day Chart for NASDAQ:MSCC

Receive News & Ratings for Microsemi Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsemi Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply