Microsemi’s (MSCC) “Market Perform” Rating Reaffirmed at Wells Fargo & Co
A number of other research firms also recently commented on MSCC. Deutsche Bank downgraded shares of Microsemi from a buy rating to a hold rating and set a $60.00 target price on the stock. in a research report on Friday. Needham & Company LLC reissued a hold rating on shares of Microsemi in a research report on Friday. Stifel Nicolaus downgraded shares of Microsemi from a buy rating to a hold rating and set a $68.00 target price on the stock. in a research report on Friday. SunTrust Banks downgraded shares of Microsemi from a buy rating to a hold rating in a research report on Friday. Finally, Royal Bank of Canada downgraded shares of Microsemi from an outperform rating to a sector perform rating and set a $58.00 target price on the stock. in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $64.42.
Shares of Microsemi (MSCC) traded up $3.00 on Friday, reaching $67.30. 52,903,930 shares of the company were exchanged, compared to its average volume of 1,387,029. Microsemi has a one year low of $46.08 and a one year high of $67.50. The company has a market cap of $7,557.31, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 1.38 and a beta of 1.24. The company has a quick ratio of 1.55, a current ratio of 2.36 and a debt-to-equity ratio of 0.89.
In other news, Director Thomas Robert Anderson sold 1,000 shares of Microsemi stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $51.12, for a total value of $51,120.00. Following the transaction, the director now owns 14,113 shares of the company’s stock, valued at approximately $721,456.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Frederick C. Goerner sold 3,968 shares of Microsemi stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $51.51, for a total transaction of $204,391.68. Following the completion of the transaction, the vice president now directly owns 57,794 shares in the company, valued at approximately $2,976,968.94. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of MSCC. Bank of New York Mellon Corp grew its position in shares of Microsemi by 41.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,065,729 shares of the semiconductor company’s stock worth $209,305,000 after buying an additional 1,196,836 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Microsemi during the 3rd quarter worth approximately $38,306,000. BlackRock Inc. grew its position in Microsemi by 6.7% during the 4th quarter. BlackRock Inc. now owns 10,817,946 shares of the semiconductor company’s stock worth $558,748,000 after purchasing an additional 680,797 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Microsemi during the 3rd quarter worth approximately $25,153,000. Finally, Carillon Tower Advisers Inc. purchased a new stake in Microsemi during the 4th quarter worth approximately $23,035,000. 99.94% 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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