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.
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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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