Microsemi Corp. (NASDAQ:MSCC) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.83-0.97 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.86. The company issued revenue guidance of $438-458 million, compared to the consensus revenue estimate of $444.32 million.
Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a buy rating and issued a $46.00 price objective on shares of Microsemi Corp. in a research report on Wednesday, June 29th. Zacks Investment Research raised shares of Microsemi Corp. from a sell rating to a hold rating in a research report on Tuesday, June 28th. SunTrust Banks Inc. reissued a buy rating on shares of Microsemi Corp. in a research report on Saturday, June 25th. TheStreet lowered shares of Microsemi Corp. from a buy rating to a hold rating in a research report on Wednesday, May 4th. Finally, Topeka Capital Markets increased their price objective on shares of Microsemi Corp. from $40.00 to $46.00 and gave the stock a buy rating in a research report on Friday, April 29th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $43.60.
Microsemi Corp. (NASDAQ:MSCC) traded up 0.25% on Thursday, reaching $36.20. 1,651,872 shares of the company’s stock were exchanged. The stock’s market capitalization is $4.09 billion. Microsemi Corp. has a 12 month low of $28.24 and a 12 month high of $39.56. The firm has a 50 day moving average of $33.50 and a 200 day moving average of $33.87.
In other news, EVP Steven G. Litchfield purchased 15,750 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were bought at an average price of $31.91 per share, with a total value of $502,582.50. Following the completion of the transaction, the executive vice president now directly owns 64,132 shares in the company, valued at approximately $2,046,452.12. The purchase was disclosed in a filing with the SEC, which is available through this link.
Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans.
