BlueCrest Capital Management Ltd cut its stake in Microsemi Co. (NASDAQ:MSCC) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,416 shares of the semiconductor company’s stock after selling 1,025 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Microsemi were worth $693,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of MSCC. Thrivent Financial For Lutherans lifted its position in shares of Microsemi by 0.3% during the fourth quarter. Thrivent Financial For Lutherans now owns 336,634 shares of the semiconductor company’s stock worth $17,387,000 after purchasing an additional 1,044 shares during the last quarter. Lyrical Asset Management LP increased its stake in shares of Microsemi by 4.0% during the fourth quarter. Lyrical Asset Management LP now owns 3,366,782 shares of the semiconductor company’s stock valued at $173,894,000 after buying an additional 130,876 shares during the period. Profund Advisors LLC increased its stake in shares of Microsemi by 17.1% during the fourth quarter. Profund Advisors LLC now owns 39,621 shares of the semiconductor company’s stock valued at $2,046,000 after buying an additional 5,789 shares during the period. Scotia Capital Inc. increased its stake in shares of Microsemi by 5.7% during the fourth quarter. Scotia Capital Inc. now owns 31,068 shares of the semiconductor company’s stock valued at $1,605,000 after buying an additional 1,665 shares during the period. Finally, Koch Industries Inc. increased its stake in shares of Microsemi by 90.6% during the fourth quarter. Koch Industries Inc. now owns 8,154 shares of the semiconductor company’s stock valued at $421,000 after buying an additional 3,875 shares during the period. Institutional investors own 97.35% of the company’s stock.
NASDAQ:MSCC traded down $0.98 during trading hours on Friday, reaching $63.68. The company had a trading volume of 1,685,713 shares, compared to its average volume of 2,943,925. Microsemi Co. has a 1-year low of $46.08 and a 1-year high of $67.52. The company has a market capitalization of $7,626.92, a PE ratio of 19.53, a PEG ratio of 1.38 and a beta of 1.18. The company has a current ratio of 2.36, a quick ratio of 1.55 and a debt-to-equity ratio of 0.89.
Microsemi (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.01. The company had revenue of $468.70 million during the quarter, compared to the consensus estimate of $460.17 million. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. Microsemi’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. equities research analysts predict that Microsemi Co. will post 3.51 earnings per share for the current fiscal year.
In related news, SVP David Goren sold 2,090 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $66.43, for a total transaction of $138,838.70. Following the completion of the sale, the senior vice president now directly owns 10,539 shares in the company, valued at $700,105.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul F. Folino sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $67.27, for a total value of $302,715.00. Following the sale, the director now owns 1,070 shares of the company’s stock, valued at $71,978.90. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
MSCC has been the topic of several research reports. Stifel Nicolaus lowered Microsemi from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research note on Friday, March 2nd. KeyCorp lifted their target price on Microsemi to $70.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. BMO Capital Markets reiterated a “buy” rating and issued a $68.00 target price on shares of Microsemi in a research note on Friday, January 26th. BidaskClub upgraded Microsemi from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Piper Jaffray initiated coverage on Microsemi in a research note on Monday, December 18th. They issued an “overweight” rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Microsemi presently has a consensus rating of “Hold” and an average price target of $64.32.
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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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