Nordea Investment Management AB Has $1.80 Million Holdings in Microsemi Corporation (MSCC)
Nordea Investment Management AB raised its stake in shares of Microsemi Corporation (NASDAQ:MSCC) by 13.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 38,550 shares of the semiconductor company’s stock after acquiring an additional 4,629 shares during the quarter. Nordea Investment Management AB’s holdings in Microsemi Corporation were worth $1,804,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Trexquant Investment LP lifted its holdings in shares of Microsemi Corporation by 0.4% during the second quarter. Trexquant Investment LP now owns 7,800 shares of the semiconductor company’s stock valued at $365,000 after acquiring an additional 34 shares during the period. Somerset Trust Co raised its holdings in shares of 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 holdings in shares of 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. Pacer Advisors Inc. raised its holdings in shares of Microsemi Corporation by 1.0% in the second quarter. Pacer Advisors Inc. now owns 14,718 shares of the semiconductor company’s stock valued at $689,000 after buying an additional 141 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Microsemi Corporation by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 9,184 shares of the semiconductor company’s stock valued at $430,000 after buying an additional 145 shares during the last quarter. 98.47% of the stock is owned by institutional investors.
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Shares of Microsemi Corporation (NASDAQ MSCC) opened at 52.60 on Friday. Microsemi Corporation has a 12 month low of $37.11 and a 12 month high of $57.97. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 53.24 and a beta of 1.18. The company has a 50-day moving average price of $50.00 and a 200-day moving average price of $49.83.
Microsemi Corporation (NASDAQ:MSCC) last posted its earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.81 by $0.18. The firm had revenue of $458.10 million during the quarter, compared to the consensus estimate of $457.87 million. Microsemi Corporation had a return on equity of 19.91% and a net margin of 6.90%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $0.73 earnings per share. Equities analysts forecast that Microsemi Corporation will post $3.84 EPS for the current fiscal year.
Microsemi Corporation announced that its Board of Directors has authorized a stock 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 buy up to 43% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other Microsemi Corporation news, VP Frederick C. Goerner sold 1,500 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $50.12, for a total value of $75,180.00. Following the completion of the transaction, the vice president now directly owns 60,436 shares in the company, valued at $3,029,052.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul F. Folino sold 1,650 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $52.57, for a total value of $86,740.50. Following the completion of the transaction, the director now owns 1,070 shares of the company’s stock, valued at $56,249.90. The disclosure for this sale can be found here. Insiders sold 11,650 shares of company stock valued at $600,076 over the last quarter. Corporate insiders own 0.57% of the company’s stock.
A number of research firms recently issued reports on MSCC. Goldman Sachs Group, Inc. (The) raised Microsemi Corporation from a “neutral” rating to a “buy” rating and cut their price target for the company from $54.00 to $53.00 in a report on Wednesday, July 5th. Zacks Investment Research raised Microsemi Corporation from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, September 12th. KeyCorp began coverage on Microsemi Corporation in a report on Monday, July 24th. They issued an “overweight” rating and a $61.00 price target for the company. BidaskClub raised Microsemi Corporation from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Microsemi Corporation in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $58.00.
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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