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.
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.
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