Retirement Systems of Alabama grew its stake in Microsemi Co. (NASDAQ:MSCC) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 396,258 shares of the semiconductor company’s stock after buying an additional 3,060 shares during the quarter. Retirement Systems of Alabama owned 0.34% of Microsemi worth $20,467,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in MSCC. Bank of New York Mellon Corp raised its position in shares of Microsemi by 41.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,065,729 shares of the semiconductor company’s stock worth $209,305,000 after acquiring an additional 1,196,836 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Microsemi during the 3rd quarter worth about $38,306,000. Eagle Asset Management Inc. acquired a new position in Microsemi during the third quarter worth approximately $25,153,000. Canada Pension Plan Investment Board acquired a new position in Microsemi during the third quarter worth approximately $13,462,000. Finally, Teacher Retirement System of Texas increased its position in Microsemi by 2,518.5% during the third quarter. Teacher Retirement System of Texas now owns 240,481 shares of the semiconductor company’s stock worth $12,380,000 after buying an additional 231,297 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.
Shares of Microsemi Co. (MSCC) opened at $60.68 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. Microsemi Co. has a 12 month low of $46.08 and a 12 month high of $65.65. The firm has a market capitalization of $7,055.45, a P/E ratio of 16.91, a P/E/G ratio of 1.28 and a beta of 1.33.
Microsemi (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.01. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. The firm had revenue of $468.70 million for the quarter, compared to the consensus estimate of $460.17 million. During the same period in the previous 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. research analysts anticipate that Microsemi Co. will post 3.51 EPS for the current year.
Several research firms have commented on MSCC. Zacks Investment Research raised Microsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $66.00 price target on shares of Microsemi in a research report on Friday, January 26th. SunTrust Banks reaffirmed a “buy” rating and set a $71.00 price target on shares of Microsemi in a research report on Friday, January 26th. Mizuho lifted their price target on Microsemi from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $61.00 price target on shares of Microsemi in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $65.55.
In other Microsemi news, VP Frederick C. Goerner sold 3,968 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $51.51, for a total transaction of $204,391.68. Following the sale, the vice president now directly owns 57,794 shares in the company, valued at $2,976,968.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $51.12, for a total value of $51,120.00. Following the sale, the director now owns 14,113 shares in the company, valued at $721,456.56. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
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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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