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.
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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.
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