Boston Partners cut its position in shares of Microsemi Corporation (NASDAQ:MSCC) by 10.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,975,502 shares of the semiconductor company’s stock after selling 339,278 shares during the period. Boston Partners’ holdings in Microsemi Corporation were worth $139,253,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Microsemi Corporation by 24,626.0% in the first quarter. BlackRock Inc. now owns 12,207,460 shares of the semiconductor company’s stock worth $629,050,000 after buying an additional 12,158,089 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Microsemi Corporation by 46.8% in the first quarter. Wells Fargo & Company MN now owns 2,648,870 shares of the semiconductor company’s stock worth $136,496,000 after buying an additional 844,586 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Microsemi Corporation by 5.9% in the first quarter. Vanguard Group Inc. now owns 9,717,771 shares of the semiconductor company’s stock worth $500,758,000 after buying an additional 542,772 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Microsemi Corporation by 1,319.0% in the first quarter. UBS Asset Management Americas Inc. now owns 561,159 shares of the semiconductor company’s stock worth $28,917,000 after buying an additional 521,612 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Microsemi Corporation by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 3,021,324 shares of the semiconductor company’s stock worth $155,690,000 after buying an additional 370,360 shares in the last quarter. Institutional investors own 99.82% of the company’s stock.

Shares of Microsemi Corporation (NASDAQ MSCC) opened at 49.26 on Friday. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 49.86 and a beta of 1.16. Microsemi Corporation has a one year low of $37.11 and a one year high of $57.97. The firm’s 50-day moving average is $50.43 and its 200-day moving average is $50.80.

Microsemi Corporation (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.18. The business had revenue of $458.10 million during the quarter, compared to the consensus estimate of $457.87 million. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. Microsemi Corporation’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Analysts expect that Microsemi Corporation will post $3.84 EPS for the current fiscal year.

Microsemi Corporation declared that its Board of Directors has approved a stock buyback program on Thursday, July 27th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 43% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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MSCC has been the subject of a number of recent research reports. Royal Bank Of Canada cut shares of Microsemi Corporation from a “top pick” rating to an “outperform” rating and dropped their price objective for the company from $64.00 to $58.00 in a research note on Wednesday, June 14th. BidaskClub cut shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $54.00 to $53.00 in a research note on Wednesday, July 5th. Raymond James Financial, Inc. started coverage on shares of Microsemi Corporation in a research report on Friday, June 16th. They set a “market perform” rating for the company. Finally, TheStreet upgraded shares of Microsemi Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $58.42.

In related news, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $51.08, for a total value of $51,080.00. Following the completion of the transaction, the director now owns 15,113 shares of the company’s stock, valued at $771,972.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul F. Folino sold 1,650 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $52.57, for a total value of $86,740.50. Following the completion of the transaction, the director now directly owns 1,070 shares of the company’s stock, valued at approximately $56,249.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,908 shares of company stock valued at $1,806,405. 0.57% of the stock is owned by insiders.

About Microsemi Corporation

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

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