TD Asset Management Inc. lessened its position in shares of Microsemi Corporation (NASDAQ:MSCC) by 54.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,117 shares of the semiconductor company’s stock after selling 121,000 shares during the period. TD Asset Management Inc. owned approximately 0.09% of Microsemi worth $5,308,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of MSCC. CIBC Asset Management Inc bought a new stake in Microsemi during the 3rd quarter worth approximately $203,000. BTC Capital Management Inc. bought a new stake in Microsemi during the 3rd quarter worth approximately $214,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Microsemi by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,793 shares of the semiconductor company’s stock worth $224,000 after acquiring an additional 395 shares during the period. BB&T Securities LLC increased its holdings in Microsemi by 13.4% during the 2nd quarter. BB&T Securities LLC now owns 5,158 shares of the semiconductor company’s stock worth $241,000 after acquiring an additional 610 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in Microsemi during the 2nd quarter worth approximately $247,000. 97.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Paul H. Pickle sold 14,746 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $52.48, for a total value of $773,870.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Frederick C. Goerner sold 3,000 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $55.00, for a total transaction of $165,000.00. Following the completion of the sale, the vice president now directly owns 57,602 shares of the company’s stock, valued at approximately $3,168,110. The disclosure for this sale can be found here. Insiders sold a total of 233,553 shares of company stock valued at $12,462,747 in the last ninety days. 0.57% of the stock is owned by corporate insiders.
A number of brokerages have recently commented on MSCC. Zacks Investment Research raised shares of Microsemi from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, August 18th. BidaskClub lowered shares of Microsemi from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Needham & Company LLC reissued a “buy” rating and issued a $61.00 price target on shares of Microsemi in a report on Friday, November 10th. KeyCorp reissued a “buy” rating and issued a $62.00 price target on shares of Microsemi in a report on Friday, October 20th. Finally, Oppenheimer reissued a “hold” rating on shares of Microsemi in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $61.11.
Microsemi Corporation (NASDAQ:MSCC) opened at $51.37 on Wednesday. The company has a market cap of $6,014.94, a price-to-earnings ratio of 15.36, a PEG ratio of 1.15 and a beta of 1.14. Microsemi Corporation has a twelve month low of $46.08 and a twelve month high of $57.97. The company has a quick ratio of 1.29, a current ratio of 1.92 and a debt-to-equity ratio of 0.87.
Microsemi (NASDAQ:MSCC) last announced its quarterly earnings data on Thursday, November 9th. The semiconductor company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.01. Microsemi had a net margin of 9.73% and a return on equity of 20.82%. The company had revenue of $475.30 million during the quarter, compared to analysts’ expectations of $474.97 million. During the same quarter in the prior year, the company earned $0.91 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. equities research analysts expect that Microsemi Corporation will post 3.57 earnings per share for the current fiscal year.
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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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