Microsemi (NASDAQ:MSCC) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.
MSCC has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and set a $61.00 target price on shares of Microsemi in a research report on Friday, November 10th. Zacks Investment Research cut shares of Microsemi from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. KeyCorp reiterated a “buy” rating and issued a $62.00 target price on shares of Microsemi in a research note on Friday, October 20th. Piper Jaffray Companies started coverage on shares of Microsemi in a research report on Monday, December 18th. They set an “overweight” rating and a $60.00 price objective for the company. Finally, Oppenheimer restated a “hold” rating on shares of Microsemi in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Microsemi has a consensus rating of “Buy” and a consensus target price of $61.00.
Shares of Microsemi (NASDAQ:MSCC) traded up $0.55 on Tuesday, reaching $58.13. 827,822 shares of the company were exchanged, compared to its average volume of 748,847. Microsemi has a one year low of $46.08 and a one year high of $58.33. The company has a market cap of $6,765.79, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 1.21 and a beta of 1.15. The company has a quick ratio of 1.29, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.
In related news, SVP David Goren sold 39,810 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $53.69, for a total value of $2,137,398.90. Following the sale, the senior vice president now owns 50,349 shares of the company’s stock, valued at $2,703,237.81. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Frederick C. Goerner sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $55.00, for a total transaction of $165,000.00. Following the completion of the sale, the vice president now directly owns 57,602 shares in the company, valued at approximately $3,168,110. The disclosure for this sale can be found here. Insiders have sold 184,631 shares of company stock worth $9,895,032 in the last three months. Corporate insiders own 0.57% of the company’s stock.
A number of large investors have recently modified their holdings of MSCC. Bank of New York Mellon Corp raised its holdings in Microsemi by 41.7% in the third quarter. Bank of New York Mellon Corp now owns 4,065,729 shares of the semiconductor company’s stock valued at $209,305,000 after acquiring an additional 1,196,836 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Microsemi by 85.8% in the second quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock valued at $79,881,000 after acquiring an additional 788,129 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Microsemi in the third quarter valued at approximately $38,306,000. Eagle Asset Management Inc. acquired a new stake in Microsemi in the third quarter valued at approximately $25,153,000. Finally, Royal Bank of Canada raised its holdings in Microsemi by 64.7% in the second quarter. Royal Bank of Canada now owns 777,401 shares of the semiconductor company’s stock valued at $36,382,000 after acquiring an additional 305,447 shares in the last quarter. 97.34% of the stock is currently owned by hedge funds and other institutional investors.
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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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