Microsemi (MSCC) Downgraded to Sell at BidaskClub
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.
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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