The Manufacturers Life Insurance Company Boosts Holdings in Microsemi Co. (MSCC)
The Manufacturers Life Insurance Company boosted its holdings in shares of Microsemi Co. (NASDAQ:MSCC) by 14.8% during the fourth quarter, Holdings Channel reports. The fund owned 194,526 shares of the semiconductor company’s stock after purchasing an additional 25,019 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Microsemi were worth $10,048,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Retirement Systems of Alabama grew its holdings in Microsemi by 0.8% during the 4th quarter. Retirement Systems of Alabama now owns 396,258 shares of the semiconductor company’s stock worth $20,467,000 after acquiring an additional 3,060 shares during the last quarter. Sei Investments Co. lifted its position in shares of Microsemi by 20.3% in the 4th quarter. Sei Investments Co. now owns 333,667 shares of the semiconductor company’s stock worth $17,234,000 after purchasing an additional 56,237 shares during the period. New Mexico Educational Retirement Board acquired a new position in shares of Microsemi in the 4th quarter worth approximately $1,477,000. Balter Liquid Alternatives LLC acquired a new position in shares of Microsemi in the 4th quarter worth approximately $142,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Microsemi in the 4th quarter worth approximately $365,000. 99.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “buy” rating and issued a $66.00 price target on shares of Microsemi in a research report on Friday, January 26th. Needham & Company LLC reiterated a “hold” rating on shares of Microsemi in a research report on Friday. Wells Fargo & Co reiterated a “market perform” rating on shares of Microsemi in a research report on Friday. Zacks Investment Research downgraded shares of Microsemi from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, SunTrust Banks reiterated a “buy” rating and set a $71.00 target price on shares of Microsemi in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $64.42.
Microsemi (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, January 25th. The semiconductor company reported $1.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.01. The business had revenue of $468.70 million during the quarter, compared to analyst estimates of $460.17 million. Microsemi had a net margin of 11.10% and a return on equity of 21.50%. Microsemi’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. equities research analysts forecast that Microsemi Co. will post 3.51 earnings per share for the current fiscal year.
In other Microsemi news, VP Frederick C. Goerner sold 3,968 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $51.51, for a total transaction of $204,391.68. Following the completion of the sale, the vice president now owns 57,794 shares in the company, valued at approximately $2,976,968.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $51.12, for a total transaction of $51,120.00. Following the sale, the director now owns 14,113 shares of the company’s stock, valued at approximately $721,456.56. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
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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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