Microsemi Corporation (MSCC) Stake Raised by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can boosted its stake in Microsemi Corporation (NASDAQ:MSCC) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 89,410 shares of the semiconductor company’s stock after buying an additional 119 shares during the period. Great West Life Assurance Co. Can’s holdings in Microsemi Corporation were worth $4,180,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First National Bank of Omaha increased its stake in shares of Microsemi Corporation by 31.3% in the first quarter. First National Bank of Omaha now owns 18,563 shares of the semiconductor company’s stock valued at $957,000 after buying an additional 4,430 shares during the period. Capstone Asset Management Co. increased its stake in shares of Microsemi Corporation by 4.0% in the first quarter. Capstone Asset Management Co. now owns 10,354 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 400 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Microsemi Corporation during the first quarter valued at approximately $252,000. Louisiana State Employees Retirement System increased its stake in shares of Microsemi Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 29,100 shares of the semiconductor company’s stock valued at $1,500,000 after buying an additional 800 shares during the period. Finally, Telemus Capital LLC increased its stake in shares of Microsemi Corporation by 18.3% in the first quarter. Telemus Capital LLC now owns 6,820 shares of the semiconductor company’s stock valued at $351,000 after buying an additional 1,055 shares during the period. 99.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of Microsemi Corporation (MSCC) opened at 50.25 on Wednesday. The firm has a market capitalization of $5.81 billion, a P/E ratio of 50.86 and a beta of 1.16. Microsemi Corporation has a 12-month low of $37.11 and a 12-month high of $57.97. The stock has a 50 day moving average of $50.55 and a 200-day moving average of $50.64.
Microsemi Corporation (NASDAQ:MSCC) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.18. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. The company had revenue of $458.10 million for the quarter, compared to analysts’ expectations of $457.87 million. During the same period last year, the business earned $0.73 EPS. Microsemi Corporation’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Microsemi Corporation will post $3.84 EPS for the current fiscal year.
Microsemi Corporation announced that its board has approved a share repurchase plan on Thursday, July 27th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 43% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Several brokerages have commented on MSCC. Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $54.00 to $53.00 in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, August 2nd. KeyCorp began coverage on shares of Microsemi Corporation in a report on Monday, July 24th. They set an “overweight” rating and a $61.00 target price on the stock. BidaskClub upgraded shares of Microsemi Corporation from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Finally, TheStreet upgraded shares of Microsemi Corporation from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $58.42.
In related news, Chairman James J. Peterson sold 8,800 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $47.93, for a total value of $421,784.00. Following the transaction, the chairman now directly owns 175,781 shares in the company, valued at approximately $8,425,183.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Robert Anderson sold 2,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $50.56, for a total value of $101,120.00. Following the completion of the transaction, the director now owns 16,113 shares in the company, valued at $814,673.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,108 shares of company stock worth $1,365,437. 0.57% of the stock is owned by company insiders.
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.
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