CIBC Asset Management Inc purchased a new stake in Microsemi Corporation (NASDAQ:MSCC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,944 shares of the semiconductor company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Retirement Systems of Alabama grew its position in shares of Microsemi Corporation by 23.6% in the 3rd quarter. Retirement Systems of Alabama now owns 393,198 shares of the semiconductor company’s stock valued at $20,242,000 after buying an additional 75,130 shares during the last quarter. Sei Investments Co. grew its position in shares of Microsemi Corporation by 80.3% in the 3rd quarter. Sei Investments Co. now owns 277,430 shares of the semiconductor company’s stock valued at $14,282,000 after buying an additional 123,583 shares during the last quarter. FDx Advisors Inc. bought a new stake in shares of Microsemi Corporation in the 3rd quarter valued at about $401,000. Harvest Management LLC bought a new stake in shares of Microsemi Corporation in the 3rd quarter valued at about $257,000. Finally, Boston Partners boosted its position in shares of Microsemi Corporation by 0.8% during the 3rd quarter. Boston Partners now owns 3,000,413 shares of the semiconductor company’s stock valued at $154,461,000 after purchasing an additional 24,911 shares in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

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In other news, VP Frederick C. Goerner sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $52.33, for a total value of $261,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Frederick C. Goerner sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $50.12, for a total value of $75,180.00. Following the completion of the transaction, the vice president now directly owns 60,436 shares of the company’s stock, valued at $3,029,052.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,053 shares of company stock valued at $12,537,927. Company insiders own 0.57% of the company’s stock.

Shares of Microsemi Corporation (NASDAQ:MSCC) opened at $55.22 on Wednesday. The company has a market capitalization of $6,331.27, a P/E ratio of 16.17, a PEG ratio of 1.21 and a beta of 1.16. Microsemi Corporation has a 52 week low of $46.08 and a 52 week high of $57.97. 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 (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $475.30 million during the quarter, compared to the consensus estimate of $474.97 million. Microsemi Corporation had a return on equity of 20.82% and a net margin of 9.73%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. equities research analysts predict that Microsemi Corporation will post 3.57 EPS for the current year.

Microsemi Corporation declared that its board has initiated a stock repurchase plan on Thursday, July 27th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 43% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Several brokerages recently commented on MSCC. Zacks Investment Research lowered Microsemi Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Susquehanna Bancshares Inc set a $70.00 target price on Microsemi Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Microsemi Corporation in a research report on Thursday, July 27th. Wells Fargo & Company restated an “outperform” rating on shares of Microsemi Corporation in a research report on Monday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $61.00 target price on shares of Microsemi Corporation in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $61.11.

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.

Institutional Ownership by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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