Trading Report: The Microsemi Corp. (MSCC) Chairman James J. Peterson Sold 54,717 Shares

The Microsemi Corp. (MSCC) Chairman James J. Peterson Sold 54,717 Shares

Microsemi Corp. (NASDAQ:MSCC) Chairman James J. Peterson sold 54,717 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $41.96, for a total value of $2,295,925.32. Following the transaction, the chairman now directly owns 196,551 shares in the company, valued at $8,247,279.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Microsemi Corp. (NASDAQ:MSCC) opened at 41.59 on Friday. The firm’s 50-day moving average price is $40.63 and its 200 day moving average price is $36.53. The company’s market capitalization is $4.71 billion. Microsemi Corp. has a one year low of $28.91 and a one year high of $42.64.

Microsemi Corp. (NASDAQ:MSCC) last released its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Microsemi Corp. had a negative net margin of 3.12% and a positive return on equity of 17.32%. The firm earned $431.40 million during the quarter, compared to analyst estimates of $430.22 million. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 36.0% on a year-over-year basis. On average, equities research analysts expect that Microsemi Corp. will post $3.02 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in MSCC. State Street Corp raised its position in Microsemi Corp. by 72.2% in the first quarter. State Street Corp now owns 3,787,545 shares of the company’s stock valued at $145,102,000 after buying an additional 1,587,798 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Microsemi Corp. by 109.0% in the second quarter. Westfield Capital Management Co. LP now owns 1,771,088 shares of the company’s stock valued at $57,879,000 after buying an additional 923,781 shares during the last quarter. Teachers Advisors Inc. raised its position in Microsemi Corp. by 646.6% in the first quarter. Teachers Advisors Inc. now owns 1,036,564 shares of the company’s stock valued at $39,711,000 after buying an additional 897,735 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Microsemi Corp. by 27.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,437,316 shares of the company’s stock valued at $131,684,000 after buying an additional 745,087 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Microsemi Corp. during the second quarter valued at about $19,098,000. Hedge funds and other institutional investors own 90.57% of the company’s stock.

Several analysts have recently commented on the company. Zacks Investment Research downgraded Microsemi Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday. Macquarie reissued a “positive” rating on shares of Microsemi Corp. in a research note on Thursday, September 22nd. Susquehanna assumed coverage on Microsemi Corp. in a research note on Tuesday, September 20th. They issued a “positive” rating and a $50.00 price objective for the company. RBC Capital Markets reissued a “top pick” rating and issued a $48.00 price objective on shares of Microsemi Corp. in a research note on Thursday, September 15th. Finally, Mizuho reissued a “buy” rating and issued a $46.00 price objective on shares of Microsemi Corp. in a research note on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.79.

About Microsemi Corp.

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