MSCC has been the subject of several other research reports. Zacks Investment Research lowered shares of Microsemi Corporation from a buy rating to a hold rating in a research note on Monday, August 28th. BidaskClub lowered shares of Microsemi Corporation from a hold rating to a sell rating in a research note on Tuesday, August 22nd. Royal Bank Of Canada reiterated an outperform rating and set a $60.00 target price (up previously from $58.00) on shares of Microsemi Corporation in a research note on Sunday, July 30th. Finally, KeyCorp reiterated a buy rating and set a $62.00 target price on shares of Microsemi Corporation in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $61.11.
Microsemi Corporation (MSCC) remained flat at $$52.62 during mid-day trading on Friday. 824,100 shares of the company’s stock were exchanged, compared to its average volume of 993,018. The company has a quick ratio of 1.29, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Microsemi Corporation has a 1-year low of $46.08 and a 1-year high of $57.97. The stock has a market cap of $6,087.30, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.16.
Microsemi Corporation (NASDAQ:MSCC) last released its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. Microsemi Corporation had a net margin of 9.73% and a return on equity of 20.82%. The firm had revenue of $475.30 million during the quarter, compared to analyst estimates of $474.97 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities analysts predict that Microsemi Corporation will post 3.62 EPS for the current year.
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Microsemi Corporation declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 27th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 43% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
In related news, COO Paul H. Pickle sold 69,482 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $53.71, for a total value of $3,731,878.22. Following the completion of the sale, the chief operating officer now owns 88,512 shares of the company’s stock, valued at $4,753,979.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John W. Hohener sold 11,638 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $52.49, for a total transaction of $610,878.62. The disclosure for this sale can be found here. Insiders sold 231,467 shares of company stock valued at $12,340,556 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Rockefeller Financial Services Inc. lifted its holdings in Microsemi Corporation by 3.0% in the second quarter. Rockefeller Financial Services Inc. now owns 549,282 shares of the semiconductor company’s stock worth $25,706,000 after purchasing an additional 16,126 shares during the period. BT Investment Management Ltd acquired a new stake in Microsemi Corporation during the 2nd quarter worth about $979,000. Oppenheimer Asset Management Inc. acquired a new stake in Microsemi Corporation during the 1st quarter worth about $113,000. Legal & General Group Plc raised its holdings in Microsemi Corporation by 23.7% during the 2nd quarter. Legal & General Group Plc now owns 95,604 shares of the semiconductor company’s stock worth $4,474,000 after buying an additional 18,321 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its holdings in Microsemi Corporation by 138.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 153,558 shares of the semiconductor company’s stock worth $7,187,000 after buying an additional 89,140 shares during the period. 99.84% of the stock is owned by institutional investors and hedge funds.
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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