Microsemi (MSCC) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Microsemi (NASDAQ:MSCC) from a sell rating to a hold rating in a research note published on Tuesday, January 9th.

A number of other research firms have also weighed in on MSCC. Zacks Investment Research lowered shares of Microsemi from a hold rating to a sell rating in a research report on Tuesday, November 14th. Piper Jaffray Companies began coverage on shares of Microsemi in a research report on Monday, December 18th. They set an overweight rating and a $60.00 price target on the stock. KeyCorp restated a buy rating and set a $62.00 price target on shares of Microsemi in a research report on Friday, October 20th. Needham & Company LLC restated a buy rating and set a $61.00 price target on shares of Microsemi in a research report on Friday, November 10th. Finally, Oppenheimer restated a hold rating on shares of Microsemi in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Microsemi currently has a consensus rating of Buy and an average target price of $65.55.

Shares of Microsemi (NASDAQ:MSCC) opened at $60.59 on Tuesday. Microsemi has a 52-week low of $46.08 and a 52-week high of $65.65. The stock has a market cap of $7,121.27, a PE ratio of 17.07, a PEG ratio of 1.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.55.

Microsemi (NASDAQ:MSCC) last announced its earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. Microsemi had a net margin of 11.10% and a return on equity of 21.50%. The business had revenue of $468.70 million for the quarter, compared to analyst estimates of $460.17 million. During the same quarter last year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. sell-side analysts forecast that Microsemi will post 3.51 EPS for the current year.

In related news, Director Thomas Robert Anderson sold 1,000 shares of the company’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 directly owns 14,113 shares of the company’s stock, valued at approximately $721,456.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Paul H. Pickle sold 69,482 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $53.71, for a total transaction of $3,731,878.22. Following the completion of the sale, the chief operating officer now directly owns 88,512 shares in the company, valued at $4,753,979.52. The disclosure for this sale can be found here. Insiders sold a total of 176,464 shares of company stock worth $9,462,795 over the last three months. Insiders own 0.50% of the company’s stock.

Several large investors have recently made changes to their positions in MSCC. Bank of New York Mellon Corp increased its position in shares of Microsemi by 41.7% in the 3rd 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 purchasing an additional 1,196,836 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Microsemi by 85.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock valued at $79,881,000 after buying an additional 788,129 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Microsemi in the 3rd quarter valued at $38,306,000. Eagle Asset Management Inc. acquired a new position in shares of Microsemi in the 3rd quarter valued at $25,153,000. Finally, Royal Bank of Canada boosted its holdings in shares of Microsemi by 64.7% in the 2nd quarter. Royal Bank of Canada now owns 777,401 shares of the semiconductor company’s stock valued at $36,382,000 after buying an additional 305,447 shares in the last quarter. 97.68% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: “Microsemi (MSCC) Stock Rating Upgraded by BidaskClub” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/05/microsemi-mscc-upgraded-to-hold-by-bidaskclub.html.

About Microsemi

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.

Analyst Recommendations for Microsemi (NASDAQ:MSCC)

Receive News & Ratings for Microsemi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsemi and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply