Microsemi Corporation (NASDAQ:MSCC) COO Paul H. Pickle sold 6,586 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $53.09, for a total transaction of $349,650.74. Following the completion of the sale, the chief operating officer now directly owns 25,616 shares in the company, valued at approximately $1,359,953.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Microsemi Corporation (NASDAQ MSCC) traded down $0.16 during trading hours on Friday, hitting $53.02. 410,408 shares of the stock traded hands, compared to its average volume of 985,618. Microsemi Corporation has a 52 week low of $46.08 and a 52 week high of $57.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.29. The firm has a market cap of $6,250.00, a P/E ratio of 15.89, a PEG ratio of 1.18 and a beta of 1.16.
Microsemi Corporation (NASDAQ:MSCC) last issued its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.01. Microsemi Corporation had a net margin of 9.73% and a return on equity of 20.82%. The company had revenue of $475.30 million for the quarter, compared to the consensus estimate of $474.97 million. During the same quarter in the previous year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities research analysts predict that Microsemi Corporation will post 3.58 earnings per share for the current fiscal year.
Microsemi Corporation declared that its Board of Directors has initiated a stock buyback program on Thursday, July 27th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 43% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
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Several equities research analysts have issued reports on MSCC shares. Zacks Investment Research raised shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, September 26th. BidaskClub lowered shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Microsemi Corporation in a report on Thursday, July 27th. Finally, KeyCorp reissued a “buy” rating and issued a $62.00 price target on shares of Microsemi Corporation in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $61.11.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Dubuque Bank & Trust Co. lifted its position in Microsemi Corporation by 3.1% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock worth $144,000 after buying an additional 93 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Microsemi Corporation during the 3rd quarter worth about $203,000. Coldstream Capital Management Inc. acquired a new position in Microsemi Corporation during the 3rd quarter worth about $211,000. BTC Capital Management Inc. acquired a new position in Microsemi Corporation during the 3rd quarter worth about $214,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Microsemi Corporation during the 2nd quarter worth about $219,000. Institutional investors and hedge funds own 99.84% of the company’s stock.
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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