Microsemi Corporation (MSCC) Receives Consensus Rating of “Buy” from Brokerages

Shares of Microsemi Corporation (NASDAQ:MSCC) have been given an average recommendation of “Buy” by the seventeen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $58.27.

A number of analysts have weighed in on the company. Zacks Investment Research lowered Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub lowered Microsemi Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd.

Microsemi Corporation (NASDAQ:MSCC) remained flat at $52.60 during mid-day trading on Friday. 469,916 shares of the company’s stock were exchanged. Microsemi Corporation has a 52 week low of $37.11 and a 52 week high of $57.97. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 51.57 and a beta of 1.18. The stock has a 50-day moving average of $50.00 and a 200 day moving average of $49.83.

Microsemi Corporation (NASDAQ:MSCC) last released its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.18. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. The business had revenue of $458.10 million for the quarter, compared to analyst estimates of $457.87 million. During the same quarter last year, the firm posted $0.73 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Microsemi Corporation will post $3.84 EPS for the current fiscal year.

Microsemi Corporation declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 27th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 43% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

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In other news, Director Paul F. Folino sold 1,650 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $52.57, for a total transaction of $86,740.50. Following the transaction, the director now owns 1,070 shares in the company, valued at $56,249.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dennis R. Leibel sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $52.46, for a total value of $157,380.00. Following the transaction, the insider now owns 7,369 shares in the company, valued at approximately $386,577.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,650 shares of company stock worth $600,076. Insiders own 0.57% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in Microsemi Corporation during the first quarter valued at about $113,000. Dubuque Bank & Trust Co. boosted its position in Microsemi Corporation by 3.1% during the second quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock valued at $144,000 after purchasing an additional 93 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Microsemi Corporation during the second quarter valued at about $219,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Microsemi Corporation by 9.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 395 shares in the last quarter. Finally, BB&T Securities LLC boosted its position in Microsemi Corporation by 13.4% during the second quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 98.47% of the company’s stock.

About Microsemi Corporation

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.

Analyst Recommendations for Microsemi Corporation (NASDAQ:MSCC)

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