Wall Street brokerages forecast that Microsemi Co. (NASDAQ:MSCC) will post sales of $489.51 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Microsemi’s earnings, with the highest sales estimate coming in at $490.05 million and the lowest estimate coming in at $489.00 million. Microsemi posted sales of $442.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Microsemi will report full year sales of $489.51 million for the current year, with estimates ranging from $1.89 billion to $2.00 billion. For the next year, analysts anticipate that the company will post sales of $2.11 billion per share, with estimates ranging from $2.05 billion to $2.14 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Microsemi.
Microsemi (NASDAQ:MSCC) last released its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share for the quarter, meeting analysts’ consensus estimates 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 revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS.
A number of brokerages have recently commented on MSCC. BidaskClub upgraded shares of Microsemi from a “hold” rating to a “buy” rating in a research note on Thursday. SunTrust Banks reiterated a “buy” rating and issued a $71.00 price target on shares of Microsemi in a research note on Friday, January 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $66.00 price target on shares of Microsemi in a research note on Friday, January 26th. BMO Capital Markets reiterated a “buy” rating and issued a $68.00 price target on shares of Microsemi in a research note on Friday, January 26th. Finally, Stifel Nicolaus lifted their price target on shares of Microsemi from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $65.55.
In related news, VP Frederick C. Goerner sold 3,968 shares of the business’s stock in a transaction that occurred 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 directly owns 57,794 shares in the company, valued at $2,976,968.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction that occurred 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 $721,456.56. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. bought a new stake in Microsemi during the fourth quarter valued at approximately $108,000. IFP Advisors Inc lifted its holdings in Microsemi by 235.2% during the fourth quarter. IFP Advisors Inc now owns 2,212 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 1,552 shares in the last quarter. Advisor Group Inc. lifted its holdings in Microsemi by 92.7% during the fourth quarter. Advisor Group Inc. now owns 2,226 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 1,071 shares in the last quarter. Cerebellum GP LLC purchased a new position in Microsemi during the fourth quarter valued at approximately $124,000. Finally, Balter Liquid Alternatives LLC purchased a new position in Microsemi during the fourth quarter valued at approximately $142,000. Institutional investors own 97.48% of the company’s stock.
Shares of Microsemi (MSCC) traded down $0.67 during mid-day trading on Friday, hitting $60.01. 832,620 shares of the stock were exchanged, compared to its average volume of 1,540,000. Microsemi has a 52-week low of $46.08 and a 52-week high of $65.65. The company has a market capitalization of $7,050.00, a price-to-earnings ratio of 39.22, a PEG ratio of 1.28 and a beta of 1.33. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.55.
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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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