First Republic Investment Management Inc. grew its position in shares of Microsemi Co. (NASDAQ:MSCC) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,087 shares of the semiconductor company’s stock after purchasing an additional 2,231 shares during the period. First Republic Investment Management Inc. owned about 0.06% of Microsemi worth $3,762,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Trexquant Investment LP increased its holdings in Microsemi by 0.4% during the 2nd quarter. Trexquant Investment LP now owns 7,800 shares of the semiconductor company’s stock valued at $365,000 after purchasing an additional 34 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Microsemi by 1.0% during the 2nd quarter. Pacer Advisors Inc. now owns 14,718 shares of the semiconductor company’s stock worth $689,000 after acquiring an additional 141 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of Microsemi by 1.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 9,184 shares of the semiconductor company’s stock worth $430,000 after acquiring an additional 145 shares during the period. Campbell Newman Asset Management Inc. grew its holdings in shares of Microsemi by 4.7% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 6,234 shares of the semiconductor company’s stock worth $292,000 after acquiring an additional 281 shares during the period. Finally, Reliant Investment Management LLC grew its holdings in shares of Microsemi by 0.5% during the 2nd quarter. Reliant Investment Management LLC now owns 61,075 shares of the semiconductor company’s stock worth $2,858,000 after acquiring an additional 325 shares during the period. 97.34% of the stock is owned by hedge funds and other institutional investors.
MSCC has been the topic of a number of analyst reports. Zacks Investment Research raised Microsemi from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, September 26th. BidaskClub cut Microsemi from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Piper Jaffray Companies started coverage on Microsemi in a research report on Monday, December 18th. They issued an “overweight” rating and a $60.00 price objective on the stock. Oppenheimer reissued a “hold” rating on shares of Microsemi in a report on Friday, November 10th. Finally, KeyCorp reissued a “buy” rating and set a $62.00 price target on shares of Microsemi in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $61.00.
In other Microsemi news, CFO John W. Hohener sold 11,638 shares of Microsemi stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $52.49, for a total value of $610,878.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Paul H. Pickle sold 14,746 shares of Microsemi stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $52.48, for a total transaction of $773,870.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 238,521 shares of company stock worth $12,718,259. 0.50% of the stock is currently owned by corporate insiders.
Shares of Microsemi Co. (NASDAQ MSCC) traded up $1.52 during midday trading on Tuesday, reaching $53.17. 675,592 shares of the company’s stock traded hands, compared to its average volume of 723,520. The company has a market capitalization of $6,250.00, a P/E ratio of 35.45, a P/E/G ratio of 1.16 and a beta of 1.14. Microsemi Co. has a twelve month low of $46.08 and a twelve month high of $57.97. The company has a current ratio of 1.92, a quick ratio of 1.29 and a debt-to-equity ratio of 0.87.
Microsemi (NASDAQ:MSCC) last issued its earnings results on Thursday, November 9th. The semiconductor company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.01. The business had revenue of $475.30 million for 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%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. research analysts predict that Microsemi Co. will post 3.57 earnings per share for the current fiscal year.
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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