Microsemi Co. (NASDAQ:MSCC) has been given a consensus recommendation of “Buy” by the sixteen analysts that are presently covering the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $53.36.
Several research analysts recently commented on the stock. TheStreet raised shares of Microsemi from a “c+” rating to a “b” rating in a research note on Monday, January 9th. Zacks Investment Research downgraded shares of Microsemi from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th. Needham & Company LLC reissued a “buy” rating and set a $63.00 target price on shares of Microsemi in a research report on Thursday, February 9th. Mizuho raised their target price on shares of Microsemi from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Finally, Stifel Nicolaus raised their target price on shares of Microsemi from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, January 27th.
In related news, Director Thomas Robert Anderson sold 1,000 shares of Microsemi stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $50.33, for a total value of $50,330.00. Following the completion of the sale, the director now directly owns 18,113 shares in the company, valued at approximately $911,627.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James J. Peterson sold 8,800 shares of Microsemi stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $54.44, for a total transaction of $479,072.00. Following the completion of the sale, the chairman now owns 253,711 shares of the company’s stock, valued at $13,812,026.84. The disclosure for this sale can be found here. Insiders sold a total of 37,746 shares of company stock valued at $2,009,686 over the last quarter. 0.57% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in MSCC. FMR LLC boosted its stake in shares of Microsemi by 650.0% in the fourth quarter. FMR LLC now owns 2,303,012 shares of the semiconductor company’s stock valued at $124,294,000 after buying an additional 1,995,930 shares during the last quarter. Allianz Asset Management AG boosted its stake in shares of Microsemi by 137.3% in the fourth quarter. Allianz Asset Management AG now owns 1,625,061 shares of the semiconductor company’s stock valued at $87,704,000 after buying an additional 940,203 shares during the last quarter. Norges Bank acquired a new stake in shares of Microsemi during the fourth quarter valued at approximately $49,913,000. Fred Alger Management Inc. boosted its stake in shares of Microsemi by 45.5% in the fourth quarter. Fred Alger Management Inc. now owns 2,627,030 shares of the semiconductor company’s stock valued at $141,781,000 after buying an additional 820,916 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new stake in shares of Microsemi during the third quarter valued at approximately $32,331,000.
Shares of Microsemi (NASDAQ:MSCC) traded down 0.93% on Monday, hitting $49.07. 685,536 shares of the stock traded hands. Microsemi has a 52 week low of $29.68 and a 52 week high of $57.97. The firm’s market cap is $5.66 billion. The stock has a 50-day moving average price of $50.76 and a 200 day moving average price of $51.01.
Microsemi (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, January 26th. The semiconductor company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The company had revenue of $435.50 million for the quarter, compared to the consensus estimate of $435.26 million. Microsemi had a negative net margin of 1.61% and a positive return on equity of 17.36%. The firm’s revenue was up 32.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. Equities research analysts predict that Microsemi will post $3.82 EPS 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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