BidaskClub upgraded shares of Microsemi (NASDAQ:MSCC) from a sell rating to a hold rating in a report issued on Tuesday morning.
A number of other analysts have also weighed in on MSCC. Needham & Company LLC reaffirmed a buy rating and issued a $61.00 price target on shares of Microsemi in a research note on Friday, November 10th. Zacks Investment Research lowered shares of Microsemi from a hold rating to a sell rating in a research note on Tuesday, November 14th. KeyCorp reaffirmed a buy rating and issued a $62.00 price target on shares of Microsemi in a research note on Friday, October 20th. Piper Jaffray Companies assumed coverage on shares of Microsemi in a research note on Monday, December 18th. They issued an overweight rating and a $60.00 price target for the company. Finally, Oppenheimer reaffirmed a hold rating on shares of Microsemi in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $61.00.
Shares of Microsemi (NASDAQ:MSCC) traded up $0.55 during trading hours on Tuesday, hitting $58.13. 827,822 shares of the stock were exchanged, compared to its average volume of 748,847. The firm has a market cap of $6,765.79, a price-to-earnings ratio of 38.50, a P/E/G ratio of 1.21 and a beta of 1.15. Microsemi has a 12 month low of $46.08 and a 12 month high of $58.33. The company has a current ratio of 1.92, a quick ratio of 1.29 and a debt-to-equity ratio of 0.87.
Microsemi (NASDAQ:MSCC) last issued its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $475.30 million during the quarter, compared to analyst estimates of $474.97 million. Microsemi had a net margin of 9.73% and a return on equity of 20.82%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. equities analysts forecast that Microsemi will post 3.57 earnings per share for the current fiscal year.
In other news, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $51.12, for a total transaction of $51,120.00. Following the sale, the director now owns 14,113 shares in the company, valued at $721,456.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Frederick C. Goerner sold 3,968 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $51.51, for a total transaction of $204,391.68. Following the sale, the vice president now owns 57,794 shares in the company, valued at approximately $2,976,968.94. The disclosure for this sale can be found here. Insiders sold a total of 184,631 shares of company stock worth $9,895,032 over the last quarter. Insiders own 0.57% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MSCC. Bank of New York Mellon Corp raised its holdings in shares of Microsemi by 41.7% during the third quarter. Bank of New York Mellon Corp now owns 4,065,729 shares of the semiconductor company’s stock valued at $209,305,000 after acquiring an additional 1,196,836 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Microsemi by 85.8% during the second quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock valued at $79,881,000 after acquiring an additional 788,129 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Microsemi during the third quarter valued at approximately $38,306,000. Eagle Asset Management Inc. acquired a new stake in shares of Microsemi during the third quarter valued at approximately $25,153,000. Finally, Royal Bank of Canada raised its holdings in shares of Microsemi by 64.7% during the second quarter. Royal Bank of Canada now owns 777,401 shares of the semiconductor company’s stock valued at $36,382,000 after acquiring an additional 305,447 shares during the period. Institutional investors and hedge funds own 97.34% of the company’s stock.
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Microsemi 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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