Insider Selling: Microsemi Corporation (MSCC) SVP Sells 3,452 Shares of Stock

Microsemi Corporation (NASDAQ:MSCC) SVP David Goren sold 3,452 shares of Microsemi Corporation stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $52.26, for a total value of $180,401.52. The sale was disclosed in a filing with the SEC, which is available at this link.

David Goren also recently made the following trade(s):

  • On Tuesday, October 10th, David Goren sold 8,329 shares of Microsemi Corporation stock. The stock was sold at an average price of $52.54, for a total value of $437,605.66.

Shares of Microsemi Corporation (MSCC) opened at 52.681 on Friday. The company’s 50 day moving average price is $50.96 and its 200-day moving average price is $49.93. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 53.321 and a beta of 1.18. Microsemi Corporation has a 1-year low of $41.14 and a 1-year high of $57.97.

Microsemi Corporation (NASDAQ:MSCC) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.18. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. The company had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $457.87 million. During the same period last year, the firm earned $0.73 EPS. Microsemi Corporation’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Microsemi Corporation will post $3.84 earnings per share for the current year.

Microsemi Corporation declared that its Board of Directors has approved a share buyback program on Thursday, July 27th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 43% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “Insider Selling: Microsemi Corporation (MSCC) SVP Sells 3,452 Shares of Stock” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2017/10/27/david-goren-sells-3452-shares-of-microsemi-corporation-mscc-stock.html.

Several brokerages have issued reports on MSCC. Zacks Investment Research lowered Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Susquehanna Bancshares Inc set a $70.00 target price on Microsemi Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. KeyCorp began coverage on Microsemi Corporation in a research note on Monday, July 24th. They issued an “overweight” rating and a $61.00 target price on the stock. BMO Capital Markets restated a “buy” rating and issued a $62.00 target price on shares of Microsemi Corporation in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Microsemi Corporation in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Microsemi Corporation presently has a consensus rating of “Buy” and a consensus target price of $58.08.

Institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. bought a new position in Microsemi Corporation in the 1st quarter worth $113,000. Dubuque Bank & Trust Co. raised its holdings in Microsemi Corporation by 3.1% during the second 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 during the period. Quantitative Systematic Strategies LLC bought a new stake in Microsemi Corporation during the second quarter valued at about $219,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Microsemi Corporation by 9.0% during the second 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 during the period. Finally, BB&T Securities LLC raised its holdings in Microsemi Corporation by 13.4% during the second 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 during the period. 98.53% of the stock is currently owned by institutional investors.

About Microsemi Corporation

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.

Insider Buying and Selling by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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