Microsemi Co. (NASDAQ:MSCC) shot up 5.7% during mid-day trading on Tuesday . The company traded as high as $63.06 and last traded at $62.35. 3,259,225 shares changed hands during mid-day trading, an increase of 196% from the average session volume of 1,101,307 shares. The stock had previously closed at $58.97.
A number of brokerages have issued reports on MSCC. BidaskClub raised shares of Microsemi from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Piper Jaffray Companies initiated coverage on shares of Microsemi in a research report on Monday, December 18th. They issued an “overweight” rating and a $60.00 target price for the company. Zacks Investment Research cut shares of Microsemi from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Oppenheimer reaffirmed a “hold” rating on shares of Microsemi in a research report on Friday, November 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $61.00 target price on shares of Microsemi in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. Microsemi has an average rating of “Buy” and a consensus price target of $61.00.
The company has a quick ratio of 1.29, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The company has a market cap of $6,930.00, a PE ratio of 41.57, a P/E/G ratio of 1.22 and a beta of 1.15.
In related news, VP Frederick C. Goerner sold 3,968 shares of Microsemi stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $51.51, for a total transaction of $204,391.68. Following the completion of the transaction, the vice president now directly owns 57,794 shares of the company’s stock, valued at approximately $2,976,968.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Frederick C. Goerner sold 3,000 shares of Microsemi stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $55.00, for a total transaction of $165,000.00. Following the transaction, the vice president now directly owns 57,602 shares of the company’s stock, valued at $3,168,110. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,464 shares of company stock valued at $9,627,795. 0.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MSCC. Amalgamated Bank lifted its position in Microsemi by 50.2% during the 2nd quarter. Amalgamated Bank now owns 23,518 shares of the semiconductor company’s stock valued at $1,101,000 after acquiring an additional 7,861 shares during the period. New York State Common Retirement Fund lifted its position in Microsemi by 44.7% during the 2nd quarter. New York State Common Retirement Fund now owns 333,084 shares of the semiconductor company’s stock valued at $15,588,000 after acquiring an additional 102,922 shares during the period. UBS Asset Management Americas Inc. lifted its position in Microsemi by 29.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 725,773 shares of the semiconductor company’s stock valued at $33,966,000 after acquiring an additional 164,614 shares during the period. GSA Capital Partners LLP purchased a new position in Microsemi in the second quarter worth about $247,000. Finally, FMR LLC raised its holdings in Microsemi by 9.1% in the second quarter. FMR LLC now owns 1,978,400 shares of the semiconductor company’s stock worth $92,589,000 after buying an additional 165,000 shares during the last quarter. 97.27% of the stock is owned by institutional investors.
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Microsemi 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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