Wells Fargo & Company MN reduced its holdings in shares of Microsemi Corporation (NASDAQ:MSCC) by 7.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,516,910 shares of the semiconductor company’s stock after selling 130,153 shares during the quarter. Wells Fargo & Company MN owned approximately 1.31% of Microsemi worth $78,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MSCC. CIBC Asset Management Inc bought a new stake in Microsemi in the 3rd quarter valued at $203,000. BTC Capital Management Inc. bought a new stake in Microsemi in the 3rd quarter valued at $214,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Microsemi by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 395 shares during the period. Harvest Management LLC bought a new stake in Microsemi in the 3rd quarter valued at $257,000. Finally, BB&T Securities LLC boosted its stake in Microsemi by 13.4% in the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 610 shares during the period. Institutional investors own 97.54% of the company’s stock.

Several analysts recently issued reports on MSCC shares. Zacks Investment Research downgraded Microsemi from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Oppenheimer restated a “hold” rating on shares of Microsemi in a research note on Friday, November 10th. Finally, KeyCorp restated a “buy” rating and issued a $62.00 price target on shares of Microsemi in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $61.11.

Shares of Microsemi Corporation (NASDAQ MSCC) opened at $51.10 on Thursday. The firm has a market capitalization of $6,040.81, a price-to-earnings ratio of 15.43, a PEG ratio of 1.15 and a beta of 1.14. The company has a current ratio of 1.92, a quick ratio of 1.29 and a debt-to-equity ratio of 0.87. Microsemi Corporation has a 1 year low of $46.08 and a 1 year high of $57.97.

Microsemi (NASDAQ:MSCC) last released its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 had a return on equity of 20.82% and a net margin of 9.73%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 EPS. sell-side analysts anticipate that Microsemi Corporation will post 3.57 earnings per share for the current year.

In other news, COO Paul H. Pickle sold 6,586 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $53.09, for a total transaction of $349,650.74. Following the completion of the sale, the chief operating officer now directly owns 25,616 shares in the company, valued at approximately $1,359,953.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Paul H. Pickle sold 69,482 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $53.71, for a total value of $3,731,878.22. Following the sale, the chief operating officer now owns 88,512 shares of the company’s stock, valued at $4,753,979.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 233,553 shares of company stock valued at $12,462,747. Corporate insiders own 0.57% of the company’s stock.

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Microsemi 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 (NASDAQ:MSCC)

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