Microsemi (MSCC) Shares Gap Up to $62.08

Microsemi (NASDAQ:MSCC) gapped up before the market opened on Friday . The stock had previously closed at $59.32, but opened at $62.08. Microsemi shares last traded at $63.12, with a volume of 4173113 shares trading hands.

A number of equities research analysts have recently weighed in on MSCC shares. SunTrust Banks cut Microsemi from a “buy” rating to a “hold” rating in a report on Friday, March 2nd. BidaskClub raised Microsemi from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Microsemi in a report on Friday, March 2nd. BMO Capital Markets reissued a “buy” rating and set a $68.00 target price on shares of Microsemi in a report on Friday, January 26th. Finally, KeyCorp boosted their target price on Microsemi to $70.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $64.32.

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The firm has a market cap of $7,504.25, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.18. 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 posted its quarterly 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. The company had revenue of $468.70 million for 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 firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. sell-side analysts predict that Microsemi will post 3.51 earnings per share for the current fiscal year.

In other Microsemi news, SVP David Goren sold 2,090 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $66.43, for a total value of $138,838.70. Following the transaction, the senior vice president now owns 10,539 shares of the company’s stock, valued at $700,105.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Frederick C. Goerner sold 2,102 shares of the company’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $64.76, for a total value of $136,125.52. Following the completion of the transaction, the vice president now directly owns 55,692 shares in the company, valued at approximately $3,606,613.92. The disclosure for this sale can be found here. Insiders sold 8,692 shares of company stock worth $577,679 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Microsemi by 6.7% in the fourth quarter. BlackRock Inc. now owns 10,817,946 shares of the semiconductor company’s stock valued at $558,748,000 after buying an additional 680,797 shares in the last quarter. Lyrical Asset Management LP increased its holdings in shares of Microsemi by 4.0% in 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 in the last quarter. Boston Partners increased its holdings in shares of Microsemi by 2.5% in the fourth quarter. Boston Partners now owns 3,074,329 shares of the semiconductor company’s stock valued at $158,789,000 after buying an additional 73,916 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Microsemi by 34.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,331,576 shares of the semiconductor company’s stock valued at $68,776,000 after buying an additional 339,606 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Microsemi by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,321,053 shares of the semiconductor company’s stock valued at $68,006,000 after buying an additional 40,935 shares in the last quarter. 97.10% of the stock is currently owned by institutional investors.

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Microsemi Company Profile

Microsemi Corporation designs, manufactures, and markets analog and mixed-signal semiconductor solutions in the United States, Europe, and Asia. The company offers analog mixed-signal integrated circuits; field programmable gate arrays; system on chip solutions and application-specific integrated circuits; power management products; and timing and synchronization devices, and precise time solutions.

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