Microsemi Corporation (NASDAQ:MSCC) COO Paul H. Pickle sold 5,903 shares of Microsemi Corporation stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $52.10, for a total transaction of $307,546.30. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Microsemi Corporation (NASDAQ MSCC) opened at 51.28 on Wednesday. The company’s 50 day moving average is $50.53 and its 200 day moving average is $49.84. Microsemi Corporation has a one year low of $37.30 and a one year high of $57.97. The stock has a market cap of $5.93 billion, a PE ratio of 51.90 and a beta of 1.18.

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

Microsemi Corporation declared that its Board of Directors has approved a share buyback program on Thursday, July 27th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 43% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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Several research firms have recently commented on MSCC. Zacks Investment Research upgraded shares of Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of Microsemi Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Susquehanna Bancshares Inc set a $70.00 price objective on shares of Microsemi Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Wells Fargo & Company reiterated an “outperform” rating on shares of Microsemi Corporation in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $60.00 price objective (up from $58.00) on shares of Microsemi Corporation in a research note on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $58.00.

A number of institutional investors have recently made changes to their positions in the business. Trexquant Investment LP raised its position in Microsemi Corporation by 0.4% during the 2nd quarter. Trexquant Investment LP now owns 7,800 shares of the semiconductor company’s stock worth $365,000 after buying an additional 34 shares during the last quarter. Somerset Trust Co raised its position in Microsemi Corporation by 0.4% during the 2nd quarter. Somerset Trust Co now owns 11,343 shares of the semiconductor company’s stock worth $531,000 after buying an additional 47 shares during the last quarter. Dubuque Bank & Trust Co. raised its position in Microsemi Corporation by 3.1% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 3,071 shares of the semiconductor company’s stock worth $144,000 after buying an additional 93 shares during the last quarter. Pacer Advisors Inc. raised its position in Microsemi Corporation by 1.0% during the 2nd quarter. Pacer Advisors Inc. now owns 14,718 shares of the semiconductor company’s stock worth $689,000 after buying an additional 141 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Microsemi Corporation by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,184 shares of the semiconductor company’s stock worth $430,000 after buying an additional 145 shares during the last quarter. Institutional investors own 98.30% 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.

Insider Buying and Selling by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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