Microsemi Corporation (NASDAQ:MSCC) CFO John W. Hohener sold 55,618 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $53.73, for a total transaction of $2,988,355.14. Following the completion of the transaction, the chief financial officer now owns 80,133 shares in the company, valued at approximately $4,305,546.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Microsemi Corporation (NASDAQ:MSCC) opened at $52.62 on Friday. Microsemi Corporation has a 52-week low of $46.08 and a 52-week high of $57.97. The company has a market capitalization of $6,087.29, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.16. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.26 and a quick ratio of 1.53.

Microsemi Corporation (NASDAQ:MSCC) last announced its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. Microsemi Corporation had a return on equity of 21.31% and a net margin of 9.73%. The firm had revenue of $475.30 million for the quarter, compared to analyst estimates of $474.97 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue was up 5.6% on a year-over-year basis. sell-side analysts forecast that Microsemi Corporation will post 3.62 earnings per share for the current year.

Microsemi Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 27th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the semiconductor company to buy up to 43% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Several large investors have recently made changes to their positions in MSCC. Bank of New York Mellon Corp lifted its position in shares of Microsemi Corporation by 41.7% during the 3rd 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 buying an additional 1,196,836 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Microsemi Corporation by 85.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,706,865 shares of the semiconductor company’s stock valued at $79,881,000 after buying an additional 788,129 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Microsemi Corporation during the 3rd quarter valued at approximately $38,306,000. Eagle Asset Management Inc. purchased a new position in shares of Microsemi Corporation during the 3rd quarter valued at approximately $25,153,000. Finally, Royal Bank of Canada lifted its position in shares of Microsemi Corporation by 64.7% during the 2nd quarter. Royal Bank of Canada now owns 777,401 shares of the semiconductor company’s stock valued at $36,382,000 after buying an additional 305,447 shares in the last quarter. Hedge funds and other institutional investors own 98.37% of the company’s stock.

Several brokerages recently weighed in on MSCC. Zacks Investment Research downgraded shares of Microsemi Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Microsemi Corporation in a report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $61.00 price target on shares of Microsemi Corporation in a report on Friday. Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, KeyCorp initiated coverage on Microsemi Corporation in a research report on Monday, July 24th. They issued an “overweight” rating and a $61.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Microsemi Corporation presently has an average rating of “Buy” and a consensus price target of $61.11.

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.

Insider Buying and Selling by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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