AHL Partners LLP acquired a new stake in Microsemi Corporation (NASDAQ:MSCC) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 41,362 shares of the semiconductor company’s stock, valued at approximately $1,935,000.
A number of other hedge funds have also added to or reduced their stakes in MSCC. Oppenheimer Asset Management Inc. bought a new position in Microsemi Corporation in the 1st quarter valued at approximately $113,000. Dubuque Bank & Trust Co. lifted its position in Microsemi Corporation by 3.1% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock valued at $144,000 after acquiring an additional 93 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Microsemi Corporation in the 2nd quarter valued at approximately $219,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Microsemi Corporation by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock valued at $224,000 after acquiring an additional 395 shares in the last quarter. Finally, BB&T Securities LLC lifted its position in Microsemi Corporation by 13.4% in the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after acquiring an additional 610 shares in the last quarter. 98.47% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Frederick C. Goerner sold 1,500 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 60,436 shares of the company’s stock, valued at $3,029,052.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP David Goren sold 8,329 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $52.54, for a total transaction of $437,605.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,363 shares of company stock valued at $2,684,080. 0.57% of the stock is currently owned by corporate insiders.
Shares of Microsemi Corporation (MSCC) opened at 51.95 on Friday. Microsemi Corporation has a 1-year low of $37.30 and a 1-year high of $57.97. The stock has a 50 day moving average price of $50.47 and a 200 day moving average price of $49.86. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 52.58 and a beta of 1.18.
Microsemi Corporation (NASDAQ:MSCC) last posted its quarterly earnings data 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. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The business had revenue of $458.10 million during the quarter, compared to the consensus estimate of $457.87 million. During the same period in the previous year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Microsemi Corporation will post $3.84 EPS for the current year.
Microsemi Corporation declared that its Board of Directors has initiated a stock buyback program on Thursday, July 27th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 43% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently issued reports on MSCC shares. Zacks Investment Research raised Microsemi Corporation from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Tuesday, September 26th. BidaskClub cut Microsemi Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Raymond James Financial, Inc. started coverage on Microsemi Corporation in a research report on Friday, June 16th. They issued a “market perform” rating on the stock. Susquehanna Bancshares Inc set a $70.00 price objective on Microsemi Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Microsemi Corporation in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.00.
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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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