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.
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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.
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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