Paradigm Capital Management Inc. NY lessened its holdings in Microsemi Corporation (NASDAQ:MSCC) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,900 shares of the semiconductor company’s stock after selling 4,600 shares during the quarter. Paradigm Capital Management Inc. NY owned 0.11% of Microsemi Corporation worth $6,481,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in MSCC. Oppenheimer Asset Management Inc. acquired a new stake in shares of Microsemi Corporation during the 1st quarter valued at approximately $113,000. Dubuque Bank & Trust Co. lifted its position in shares of Microsemi Corporation by 3.1% during 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 during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Microsemi Corporation during the 2nd quarter valued at approximately $219,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Microsemi Corporation 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 acquiring an additional 395 shares during the period. Finally, Harvest Management LLC acquired a new stake in shares of Microsemi Corporation during the 3rd quarter valued at approximately $257,000. 98.37% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Microsemi Corporation in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $61.00 price target on shares of Microsemi Corporation in a research report on Friday. BidaskClub downgraded shares of Microsemi Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $61.11.
Shares of Microsemi Corporation (MSCC) traded down $0.22 during trading on Friday, hitting $52.62. The company had a trading volume of 1,538,800 shares, compared to its average volume of 710,390. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.26 and a quick ratio of 1.53. The firm has a market cap of $6,087.29, a P/E ratio of 15.80, a P/E/G ratio of 1.16 and a beta of 1.16. Microsemi Corporation has a 1 year low of $46.08 and a 1 year high of $57.97.
Microsemi Corporation (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.01. The company had revenue of $475.30 million during the quarter, compared to the consensus estimate of $474.97 million. Microsemi Corporation had a return on equity of 21.31% and a net margin of 9.73%. Microsemi Corporation’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. equities research analysts expect that Microsemi Corporation will post 3.62 earnings per share for the current fiscal year.
Microsemi Corporation announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 43% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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In other Microsemi Corporation news, insider Dennis R. Leibel sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $50.76, for a total value of $152,280.00. Following the completion of the transaction, the insider now directly owns 4,369 shares in the company, valued at approximately $221,770.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John W. Hohener sold 11,638 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $52.49, for a total value of $610,878.62. The disclosure for this sale can be found here. Insiders sold a total of 231,467 shares of company stock valued at $12,340,556 over the last quarter. 0.57% of the stock is currently owned by insiders.
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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