Axiom International Investors LLC DE acquired a new position in Microsemi Corporation (NASDAQ:MSCC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 87,883 shares of the company’s stock, valued at approximately $4,743,000.
Several other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Microsemi Corporation by 9.9% in the second quarter. Royal Bank of Canada now owns 1,275,139 shares of the company’s stock worth $41,671,000 after buying an additional 115,348 shares during the period. Stifel Financial Corp raised its stake in shares of Microsemi Corporation by 5.8% in the second quarter. Stifel Financial Corp now owns 168,828 shares of the company’s stock worth $5,516,000 after buying an additional 9,317 shares during the period. Amalgamated Bank raised its stake in shares of Microsemi Corporation by 14.6% in the second quarter. Amalgamated Bank now owns 13,720 shares of the company’s stock worth $545,000 after buying an additional 1,746 shares during the period. Legal & General Group Plc raised its stake in shares of Microsemi Corporation by 23.5% in the second quarter. Legal & General Group Plc now owns 34,002 shares of the company’s stock worth $1,099,000 after buying an additional 6,468 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Microsemi Corporation by 5.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 184,592 shares of the company’s stock worth $6,032,000 after buying an additional 9,470 shares during the period.
Microsemi Corporation (NASDAQ:MSCC) traded up 0.17% during mid-day trading on Tuesday, hitting $53.32. The stock had a trading volume of 618,415 shares. Microsemi Corporation has a 52 week low of $29.68 and a 52 week high of $57.97. The company’s market capitalization is $6.15 billion. The stock’s 50-day moving average is $55.02 and its 200 day moving average is $47.25.
Microsemi Corporation (NASDAQ:MSCC) last announced its earnings results on Thursday, January 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The company earned $435.50 million during the quarter, compared to analyst estimates of $435.26 million. Microsemi Corporation had a negative net margin of 1.61% and a positive return on equity of 17.36%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Equities analysts forecast that Microsemi Corporation will post $3.82 earnings per share for the current fiscal year.
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A number of equities research analysts have recently issued reports on the company. TheStreet raised Microsemi Corporation from a “c+” rating to a “b” rating in a research report on Monday, January 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Microsemi Corporation in a research report on Friday, November 11th. Stifel Nicolaus boosted their target price on Microsemi Corporation from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Deutsche Bank AG assumed coverage on Microsemi Corporation in a research report on Tuesday, November 8th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Zacks Investment Research lowered Microsemi Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $53.23.
In related news, Chairman James J. Peterson sold 134,200 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $54.18, for a total transaction of $7,270,956.00. Following the completion of the sale, the chairman now directly owns 396,711 shares in the company, valued at $21,493,801.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Frederick C. Goerner sold 2,008 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $55.91, for a total transaction of $112,267.28. Following the sale, the vice president now owns 63,782 shares of the company’s stock, valued at $3,566,051.62. The disclosure for this sale can be found here. Insiders have sold 146,177 shares of company stock valued at $7,926,964 over the last 90 days. 0.57% of the stock is currently owned by company insiders.
About Microsemi Corporation
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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