New Mexico Educational Retirement Board bought a new position in shares of Microsemi Co. (NASDAQ:MSCC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 28,600 shares of the semiconductor company’s stock, valued at approximately $1,477,000.
Several other institutional investors also recently bought and sold shares of MSCC. Public Employees Retirement System of Ohio lifted its position in shares of Microsemi by 2,293.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 53,724 shares of the semiconductor company’s stock worth $2,514,000 after buying an additional 51,479 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of Microsemi by 1.6% during the 3rd quarter. Mutual of America Capital Management LLC now owns 93,348 shares of the semiconductor company’s stock worth $4,806,000 after buying an additional 1,493 shares during the period. Oakbrook Investments LLC bought a new position in Microsemi in the 3rd quarter valued at $319,000. Fox Run Management L.L.C. bought a new position in Microsemi in the 3rd quarter valued at $535,000. Finally, First Trust Advisors LP raised its position in Microsemi by 59.6% in the 3rd quarter. First Trust Advisors LP now owns 255,053 shares of the semiconductor company’s stock valued at $13,130,000 after purchasing an additional 95,287 shares during the last quarter. Institutional investors and hedge funds own 99.94% of the company’s stock.
Several equities analysts have issued reports on MSCC shares. Zacks Investment Research upgraded Microsemi from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Needham & Company LLC reiterated a “buy” rating and issued a $61.00 price objective on shares of Microsemi in a research report on Friday, November 10th. Oppenheimer reiterated a “hold” rating on shares of Microsemi in a research report on Friday, November 10th. BidaskClub downgraded Microsemi from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Piper Jaffray Companies started coverage on Microsemi in a research report on Monday, December 18th. They issued an “overweight” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $65.55.
In other news, Director Thomas Robert Anderson sold 1,000 shares of Microsemi 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 completion of the sale, the director now directly owns 14,113 shares of the company’s stock, valued at approximately $721,456.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Frederick C. Goerner sold 3,968 shares of Microsemi stock in a transaction on Friday, December 8th. The shares were sold at an average price of $51.51, for a total value of $204,391.68. Following the completion of the sale, the vice president now directly owns 57,794 shares of the company’s stock, valued at $2,976,968.94. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.
Shares of Microsemi Co. (MSCC) opened at $60.01 on Tuesday. The company has a market capitalization of $7,053.10, a price-to-earnings ratio of 16.90, a PEG ratio of 1.28 and a beta of 1.33. Microsemi Co. has a 52 week low of $46.08 and a 52 week high of $65.65. 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 released its earnings results on Thursday, January 25th. The semiconductor company reported $1.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. The company had revenue of $468.70 million during the quarter, compared to analysts’ expectations of $460.17 million. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. sell-side analysts predict that Microsemi Co. will post 3.51 earnings per share for the current fiscal year.
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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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