Engineers Gate Manager LP Buys New Stake in Microsemi Corporation (MSCC)

Engineers Gate Manager LP bought a new stake in shares of Microsemi Corporation (NASDAQ:MSCC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 59,964 shares of the semiconductor company’s stock, valued at approximately $3,087,000. Engineers Gate Manager LP owned approximately 0.05% of Microsemi at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MSCC. CIBC Asset Management Inc bought a new stake in shares of Microsemi during the 3rd quarter valued at about $203,000. BTC Capital Management Inc. bought a new stake in shares of Microsemi during the 3rd quarter valued at about $214,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Microsemi by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 395 shares in the last quarter. BB&T Securities LLC boosted its position in shares of Microsemi by 13.4% during the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 610 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Microsemi during the 2nd quarter valued at about $247,000. Institutional investors own 97.54% of the company’s stock.

Several brokerages recently commented on MSCC. Zacks Investment Research upgraded Microsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Needham & Company LLC reiterated a “buy” rating and issued a $61.00 price target on shares of Microsemi in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.11.

In other news, COO Paul H. Pickle sold 14,746 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $52.48, for a total value of $773,870.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Goren sold 8,329 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $52.54, for a total value of $437,605.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,553 shares of company stock worth $12,462,747. Corporate insiders own 0.57% of the company’s stock.

Microsemi Corporation (NASDAQ:MSCC) opened at $51.10 on Thursday. The stock has a market capitalization of $6,040.81, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. The company has a quick ratio of 1.29, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Microsemi Corporation has a fifty-two week low of $46.08 and a fifty-two week high of $57.97.

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

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Microsemi 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.

Institutional Ownership by Quarter for Microsemi (NASDAQ:MSCC)

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