NGAM Advisors L.P. decreased its stake in Microsemi Corporation (NASDAQ:MSCC) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,989 shares of the semiconductor company’s stock after selling 161 shares during the period. NGAM Advisors L.P.’s holdings in Microsemi Corporation were worth $1,965,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MSCC. Somerset Trust Co raised its stake in Microsemi Corporation by 0.4% in the second quarter. Somerset Trust Co now owns 11,343 shares of the semiconductor company’s stock valued at $531,000 after buying an additional 47 shares during the last quarter. Dubuque Bank & Trust Co. raised its stake in Microsemi Corporation by 3.1% in the second quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 93 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in Microsemi Corporation by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 19,871 shares of the semiconductor company’s stock valued at $1,024,000 after buying an additional 112 shares during the last quarter. Chicago Equity Partners LLC raised its stake in Microsemi Corporation by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 29,160 shares of the semiconductor company’s stock valued at $1,503,000 after buying an additional 150 shares during the last quarter. Finally, Flinton Capital Management LLC raised its stake in Microsemi Corporation by 5.3% in the first quarter. Flinton Capital Management LLC now owns 3,184 shares of the semiconductor company’s stock valued at $164,000 after buying an additional 160 shares during the last quarter. 99.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of Microsemi Corporation (NASDAQ:MSCC) opened at 49.26 on Friday. Microsemi Corporation has a 12-month low of $37.11 and a 12-month high of $57.97. The firm has a 50-day moving average of $50.43 and a 200-day moving average of $50.80. The firm has a market cap of $5.70 billion, a P/E ratio of 49.86 and a beta of 1.16.

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

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

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MSCC has been the subject of several research analyst reports. Royal Bank Of Canada downgraded shares of Microsemi Corporation from a “top pick” rating to an “outperform” rating and reduced their price target for the stock from $64.00 to $58.00 in a research report on Wednesday, June 14th. BidaskClub downgraded shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) upgraded shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $54.00 to $53.00 in a research report on Wednesday, July 5th. Raymond James Financial, Inc. initiated 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 issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $58.42.

In other Microsemi Corporation news, SVP David Goren sold 8,464 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $51.36, for a total value of $434,711.04. Following the sale, the senior vice president now owns 22,320 shares of the company’s stock, valued at $1,146,355.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis R. Leibel sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $52.46, for a total transaction of $157,380.00. Following the completion of the sale, the insider now directly owns 7,369 shares in the company, valued at approximately $386,577.74. The disclosure for this sale can be found here. Insiders sold 35,908 shares of company stock worth $1,806,405 in the last ninety days. Insiders own 0.57% of the company’s stock.

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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