Microsemi Corporation (MSCC) Expected to Post Earnings of $1.01 Per Share
Wall Street analysts expect that Microsemi Corporation (NASDAQ:MSCC) will post earnings per share of $1.01 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Microsemi’s earnings. Microsemi posted earnings per share of $0.86 in the same quarter last year, which indicates a positive year over year growth rate of 17.4%. The company is scheduled to report its next quarterly earnings report on Thursday, January 25th.
On average, analysts expect that Microsemi will report full-year earnings of $4.33 per share for the current fiscal year, with EPS estimates ranging from $4.15 to $4.45. For the next financial year, analysts expect that the firm will report earnings of $4.63 per share, with EPS estimates ranging from $4.53 to $4.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Microsemi.
Microsemi (NASDAQ:MSCC) last posted its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $475.30 million during the quarter, compared to analyst estimates of $474.97 million. Microsemi had a net margin of 9.73% and a return on equity of 20.82%. Microsemi’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share.
A number of analysts have recently issued reports on MSCC shares. Zacks Investment Research raised shares of Microsemi from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Tuesday, September 26th. BidaskClub lowered shares of Microsemi from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Oppenheimer reissued a “hold” rating on shares of Microsemi in a research note on Friday, November 10th. KeyCorp restated a “buy” rating and issued a $62.00 price objective on shares of Microsemi in a report on Friday, October 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $61.00 price objective on shares of Microsemi in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $61.11.
In other Microsemi news, COO Paul H. Pickle sold 69,482 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $53.71, for a total value of $3,731,878.22. Following the sale, the chief operating officer now owns 88,512 shares in the company, valued at approximately $4,753,979.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David Goren sold 8,329 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $52.54, for a total value of $437,605.66. The disclosure for this sale can be found here. Insiders have sold 233,553 shares of company stock worth $12,462,747 in the last 90 days. Insiders own 0.57% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc acquired a new position in shares of Microsemi during the 3rd quarter worth approximately $203,000. Coldstream Capital Management Inc. acquired a new position in Microsemi in the 3rd quarter valued at $211,000. BTC Capital Management Inc. acquired a new position in Microsemi in the 3rd quarter valued at $214,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Microsemi by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 395 shares during the last quarter. Finally, BB&T Securities LLC raised its stake in Microsemi by 13.4% in the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 610 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.
Shares of Microsemi (MSCC) traded up $0.22 on Friday, hitting $51.37. 792,600 shares of the stock were exchanged, compared to its average volume of 977,915. The stock has a market capitalization of $6,000.00, a price-to-earnings ratio of 15.36, a P/E/G ratio of 1.15 and a beta of 1.14. Microsemi has a 1 year low of $46.08 and a 1 year high of $57.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.29.
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Microsemi 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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