Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation (NASDAQ:MSCC) from a neutral rating to a buy rating in a research note published on Wednesday morning, Marketbeat reports. The firm currently has $53.00 target price on the semiconductor company’s stock, down from their prior target price of $54.00.
A number of other research firms have also weighed in on MSCC. Royal Bank Of Canada reaffirmed a top pick rating and set a $64.00 target price on shares of Microsemi Corporation in a report on Monday, May 22nd. Needham & Company LLC reduced their target price on Microsemi Corporation from $63.00 to $61.00 and set a buy rating for the company in a report on Friday, April 28th. Raymond James Financial, Inc. started coverage on Microsemi Corporation in a report on Friday, June 16th. They set a market perform rating for the company. BidaskClub lowered Microsemi Corporation from a hold rating to a sell rating in a report on Saturday, June 17th. Finally, TheStreet raised Microsemi Corporation from a c+ rating to a b+ rating in a report on Thursday, April 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Microsemi Corporation presently has a consensus rating of Buy and an average target price of $54.91.
Shares of Microsemi Corporation (NASDAQ:MSCC) remained flat at $48.86 during midday trading on Wednesday. The stock had a trading volume of 481,891 shares. Microsemi Corporation has a 12 month low of $32.57 and a 12 month high of $57.97. The company has a 50 day moving average price of $49.04 and a 200 day moving average price of $51.75. The company has a market cap of $5.64 billion, a P/E ratio of 25.84 and a beta of 1.15.
Microsemi Corporation (NASDAQ:MSCC) last posted its earnings results on Thursday, April 27th. The semiconductor company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.18. The business had revenue of $442.90 million during the quarter, compared to analyst estimates of $439.79 million. Microsemi Corporation had a return on equity of 18.77% and a net margin of 12.77%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS. Analysts expect that Microsemi Corporation will post $3.82 earnings per share for the current year.
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In related news, SVP David Goren sold 8,464 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $51.36, for a total transaction of $434,711.04. Following the completion of the transaction, the senior vice president now owns 22,320 shares in the company, valued at $1,146,355.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Robert Anderson sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $50.56, for a total value of $101,120.00. Following the transaction, the director now owns 16,113 shares of the company’s stock, valued at approximately $814,673.28. The disclosure for this sale can be found here. Insiders sold a total of 50,184 shares of company stock valued at $2,475,231 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of Microsemi Corporation during the first quarter worth approximately $113,000. Dubuque Bank & Trust Co. acquired a new position in shares of Microsemi Corporation during the first quarter worth approximately $153,000. Flinton Capital Management LLC increased its position in shares of Microsemi Corporation by 5.3% in the first quarter. Flinton Capital Management LLC now owns 3,184 shares of the semiconductor company’s stock worth $164,000 after buying an additional 160 shares in the last quarter. BTC Capital Management Inc. acquired a new position in shares of Microsemi Corporation during the first quarter worth approximately $202,000. Finally, Cigna Investments Inc. New acquired a new position in shares of Microsemi Corporation during the fourth quarter worth approximately $215,000.
Microsemi Corporation Company Profile
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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