Bbva Compass Bancshares Inc. reduced its position in Microsemi Corporation (NASDAQ:MSCC) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,344 shares of the semiconductor company’s stock after selling 1,051 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Microsemi Corporation were worth $533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP lifted its stake in shares of Microsemi Corporation by 0.4% in the 2nd quarter. Trexquant Investment LP now owns 7,800 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 34 shares in the last quarter. Somerset Trust Co lifted its stake in shares of Microsemi Corporation by 0.4% in the 2nd quarter. Somerset Trust Co now owns 11,343 shares of the semiconductor company’s stock valued at $531,000 after purchasing an additional 47 shares in the last quarter. Dubuque Bank & Trust Co. lifted its stake in shares of Microsemi Corporation by 3.1% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock valued at $144,000 after purchasing an additional 93 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Microsemi Corporation by 1.0% in the 2nd quarter. Pacer Advisors Inc. now owns 14,718 shares of the semiconductor company’s stock valued at $689,000 after purchasing an additional 141 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Microsemi Corporation by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,184 shares of the semiconductor company’s stock valued at $430,000 after purchasing an additional 145 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

In other Microsemi Corporation news, Director Thomas Robert Anderson sold 1,000 shares of Microsemi Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $51.08, for a total transaction of $51,080.00. Following the sale, the director now directly owns 15,113 shares in the company, valued at approximately $771,972.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis R. Leibel sold 3,000 shares of Microsemi Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $50.76, for a total value of $152,280.00. Following the sale, the insider now owns 4,369 shares in the company, valued at $221,770.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,557 shares of company stock worth $3,369,004. Company insiders own 0.57% of the company’s stock.

Several equities analysts have recently weighed in on the company. Zacks Investment Research raised Microsemi Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. KeyCorp reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Microsemi Corporation in a research note on Friday, October 20th. Finally, BidaskClub lowered Microsemi Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Microsemi Corporation presently has a consensus rating of “Buy” and an average price target of $58.73.

Shares of Microsemi Corporation (NASDAQ MSCC) opened at $53.87 on Friday. The company has a market capitalization of $6,231.90, a PE ratio of 17.49, a P/E/G ratio of 1.19 and a beta of 1.16. The company has a current ratio of 2.26, a quick ratio of 1.53 and a debt-to-equity ratio of 1.03. Microsemi Corporation has a twelve month low of $45.51 and a twelve month high of $57.97.

Microsemi Corporation announced that its board has initiated a stock repurchase program on Thursday, July 27th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 43% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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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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