Aperio Group LLC Boosts Stake in Microsemi Corporation (MSCC)
Aperio Group LLC increased its stake in Microsemi Corporation (NASDAQ:MSCC) by 25.4% during the second quarter, Holdings Channel reports. The firm owned 32,700 shares of the semiconductor company’s stock after buying an additional 6,626 shares during the period. Aperio Group LLC’s holdings in Microsemi Corporation were worth $1,530,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. First National Bank of Omaha increased its stake in shares of Microsemi Corporation by 31.3% in the first quarter. First National Bank of Omaha now owns 18,563 shares of the semiconductor company’s stock valued at $957,000 after buying an additional 4,430 shares during the period. Capstone Asset Management Co. increased its stake in shares of Microsemi Corporation by 4.0% in the first quarter. Capstone Asset Management Co. now owns 10,354 shares of the semiconductor company’s stock valued at $534,000 after buying an additional 400 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Microsemi Corporation during the first quarter valued at about $252,000. Louisiana State Employees Retirement System increased its stake in Microsemi Corporation by 2.8% in the first quarter. Louisiana State Employees Retirement System now owns 29,100 shares of the semiconductor company’s stock worth $1,500,000 after buying an additional 800 shares during the last quarter. Finally, Telemus Capital LLC increased its stake in Microsemi Corporation by 18.3% in the first quarter. Telemus Capital LLC now owns 6,820 shares of the semiconductor company’s stock worth $351,000 after buying an additional 1,055 shares during the last quarter. Hedge funds and other institutional investors own 99.82% of the company’s stock.
Shares of Microsemi Corporation (MSCC) traded down 0.34% on Friday, reaching $49.26. 1,506,214 shares of the company were exchanged. Microsemi Corporation has a 12-month low of $37.11 and a 12-month high of $57.97. The firm has a 50 day moving average price of $50.43 and a 200-day moving average price of $50.80. The stock has a market capitalization of $5.70 billion, a PE ratio of 49.86 and a beta of 1.16.
Microsemi Corporation (NASDAQ:MSCC) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.18. The company had revenue of $458.10 million for 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 revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. On average, analysts predict that Microsemi Corporation will post $3.84 EPS for the current fiscal year.
Microsemi Corporation announced that its board has initiated a stock buyback program on Thursday, July 27th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 43% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts have recently weighed in on MSCC shares. Royal Bank Of Canada reiterated a “top pick” rating and issued a $64.00 price target on shares of Microsemi Corporation in a research report on Monday, May 22nd. Needham & Company LLC dropped their price target on shares of Microsemi Corporation from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Raymond James Financial, Inc. started coverage on shares of Microsemi Corporation in a research report on Friday, June 16th. They issued a “market perform” rating for the company. Susquehanna Bancshares Inc set a $70.00 price target on shares of Microsemi Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Finally, BidaskClub downgraded shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $58.42.
In other Microsemi Corporation news, Director Thomas Robert Anderson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $51.08, for a total value of $51,080.00. Following the sale, the director now directly owns 15,113 shares in the company, valued at approximately $771,972.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Goren sold 8,464 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $51.36, for a total transaction of $434,711.04. Following the completion of the sale, the senior vice president now owns 22,320 shares in the company, valued at $1,146,355.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,908 shares of company stock worth $1,806,405 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.
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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