BidaskClub downgraded shares of Microsemi (NASDAQ:MSCC) from a hold rating to a sell rating in a report issued on Thursday.

Several other analysts have also recently commented on the company. Zacks Investment Research cut Microsemi from a hold rating to a sell rating in a report on Tuesday, November 14th. Oppenheimer restated a hold rating on shares of Microsemi in a report on Friday, November 10th. Needham & Company LLC reaffirmed a buy rating and issued a $61.00 price objective on shares of Microsemi in a research note on Friday, November 10th. Finally, KeyCorp reaffirmed a buy rating and issued a $62.00 price objective on shares of Microsemi in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $61.11.

Microsemi (NASDAQ:MSCC) traded down $0.80 on Thursday, reaching $51.03. The company’s stock had a trading volume of 850,058 shares, compared to its average volume of 974,962. The company has a quick ratio of 1.29, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The stock has a market cap of $6,090.00, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. Microsemi has a 52 week low of $46.08 and a 52 week high of $57.97.

Microsemi (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.08 by $0.01. The company had revenue of $475.30 million during the quarter, compared to analysts’ expectations of $474.97 million. Microsemi had a return on equity of 20.82% and a net margin of 9.73%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. equities research analysts predict that Microsemi will post 3.57 EPS for the current year.

In other news, VP Frederick C. Goerner sold 5,000 shares of Microsemi stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $52.33, for a total value of $261,650.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $51.12, for a total value of $51,120.00. Following the transaction, the director now directly owns 14,113 shares in the company, valued at $721,456.56. The disclosure for this sale can be found here. Insiders sold a total of 234,553 shares of company stock worth $12,513,867 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc acquired a new position in Microsemi during the 3rd quarter worth approximately $203,000. Coldstream Capital Management Inc. acquired a new position in Microsemi during the 3rd quarter worth approximately $211,000. BTC Capital Management Inc. acquired a new position in Microsemi during the 3rd quarter worth approximately $214,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Microsemi by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock worth $224,000 after acquiring an additional 395 shares in the last quarter. Finally, Harvest Management LLC acquired a new position in Microsemi during the 3rd quarter worth approximately $257,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Microsemi (MSCC) Downgraded to Sell at BidaskClub” was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The correct version of this article can be read at https://www.watchlistnews.com/microsemi-mscc-downgraded-to-sell-at-bidaskclub/1752621.html.

About Microsemi

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.

Analyst Recommendations for Microsemi (NASDAQ:MSCC)

Receive News & Ratings for Microsemi Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Microsemi Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.