Published On: Fri, Sep 9th, 2016

Microsemi Corp. (MSCC) Given New $50.00 Price Target at Stifel Nicolaus

Microsemi Corp. (NASDAQ:MSCC) had its price target raised by analysts at Stifel Nicolaus from $48.00 to $50.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 22.76% from the stock’s previous close.
MSCC has been the subject of several other research reports. Zacks Investment Research raised shares of Microsemi Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Drexel Hamilton downgraded shares of Microsemi Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Mizuho increased their price objective on shares of Microsemi Corp. from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. SunTrust Banks Inc. reissued a “buy” rating on shares of Microsemi Corp. in a research note on Saturday, June 25th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Microsemi Corp. in a research note on Friday, July 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.69.
Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 40.43 on Friday. The company has a 50-day moving average of $38.91 and a 200 day moving average of $35.66. The company’s market capitalization is $4.58 billion. Microsemi Corp. has a 52-week low of $28.91 and a 52-week high of $40.86.

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Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The company earned $431.40 million during the quarter, compared to the consensus estimate of $430.22 million. Microsemi Corp.’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. Analysts predict that Microsemi Corp. will post $3.02 earnings per share for the current year.
In other Microsemi Corp. news, Director Paul F. Folino sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $39.80, for a total value of $59,700.00. Following the completion of the sale, the director now directly owns 1,070 shares in the company, valued at $42,586. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Frederick C. Goerner sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $39.39, for a total transaction of $157,560.00. Following the completion of the sale, the vice president now owns 52,561 shares of the company’s stock, valued at $2,070,377.79. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.
A number of large investors recently bought and sold shares of the company. FTB Advisors Inc. boosted its stake in Microsemi Corp. by 347.6% in the second quarter. FTB Advisors Inc. now owns 4,391 shares of the company’s stock worth $143,000 after buying an additional 3,410 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Microsemi Corp. by 70.9% in the second quarter. LS Investment Advisors LLC now owns 6,800 shares of the company’s stock worth $222,000 after buying an additional 2,820 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in Microsemi Corp. during the first quarter worth approximately $236,000. Quantitative Systematic Strategies LLC bought a new stake in Microsemi Corp. during the second quarter worth approximately $238,000. Finally, National Investment Services Inc. WI bought a new stake in Microsemi Corp. during the second quarter worth approximately $271,000. Institutional investors and hedge funds own 90.72% of the company’s stock.
About Microsemi Corp.
Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans.

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