Microsemi (MSCC) Rating Increased to Hold at BidaskClub

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.

Microsemi (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, beating the 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 business 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 business posted $0.91 EPS. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. equities analysts predict that Microsemi will post 3.57 EPS for the current year.

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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About Microsemi

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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