Microsemi (MSCC) Shares Up 5.7%

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.

Microsemi (NASDAQ:MSCC) last posted its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.01. Microsemi 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 analysts’ expectations of $474.97 million. During the same period last year, the company posted $0.91 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. research analysts anticipate that Microsemi Co. will post 3.57 EPS for the current fiscal year.

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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