Microsemi (MSCC) Downgraded by BidaskClub to “Hold”

Microsemi (NASDAQ:MSCC) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also recently weighed in on the company. KeyCorp restated an “equal weight” rating on shares of Microsemi in a report on Wednesday, March 7th. Piper Jaffray cut Microsemi from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 6th. BMO Capital Markets cut Microsemi from an “outperform” rating to a “market perform” rating in a report on Monday, March 5th. Mizuho cut Microsemi from a “buy” rating to a “neutral” rating and set a $68.78 price target for the company. in a report on Monday, March 5th. Finally, Wells Fargo restated a “market perform” rating on shares of Microsemi in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. Microsemi presently has an average rating of “Hold” and an average target price of $64.32.

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NASDAQ:MSCC opened at $63.77 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.55. Microsemi has a 12-month low of $46.08 and a 12-month high of $67.52. The stock has a market cap of $7,542.00, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.37 and a beta of 1.18.

Microsemi (NASDAQ:MSCC) last released its earnings results on Thursday, January 25th. The semiconductor company reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $468.70 million during the quarter, compared to analysts’ expectations of $460.17 million. Microsemi had a return on equity of 21.50% and a net margin of 11.10%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. research analysts anticipate that Microsemi will post 3.51 EPS for the current year.

In related news, SVP David Goren sold 2,090 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $66.43, for a total transaction of $138,838.70. Following the completion of the sale, the senior vice president now directly owns 10,539 shares of the company’s stock, valued at approximately $700,105.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frederick C. Goerner sold 2,102 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $64.76, for a total value of $136,125.52. Following the sale, the vice president now directly owns 55,692 shares of the company’s stock, valued at $3,606,613.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,692 shares of company stock valued at $577,679. Company insiders own 0.50% of the company’s stock.

Several hedge funds have recently modified their holdings of MSCC. BlackRock Inc. lifted its stake in shares of Microsemi by 6.7% during the 4th quarter. BlackRock Inc. now owns 10,817,946 shares of the semiconductor company’s stock worth $558,748,000 after acquiring an additional 680,797 shares during the last quarter. Carillon Tower Advisers Inc. bought a new stake in shares of Microsemi during the 4th quarter worth approximately $23,035,000. Teachers Advisors LLC lifted its stake in shares of Microsemi by 63.6% during the 4th quarter. Teachers Advisors LLC now owns 959,792 shares of the semiconductor company’s stock worth $49,573,000 after acquiring an additional 373,001 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Microsemi by 34.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,331,576 shares of the semiconductor company’s stock worth $68,776,000 after acquiring an additional 339,606 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Microsemi by 35.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,005,650 shares of the semiconductor company’s stock worth $51,942,000 after acquiring an additional 261,550 shares during the last quarter. 97.10% of the stock is owned by hedge funds and other institutional investors.

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Microsemi Company Profile

Microsemi Corporation designs, manufactures, and markets analog and mixed-signal semiconductor solutions in the United States, Europe, and Asia. The company offers analog mixed-signal integrated circuits; field programmable gate arrays; system on chip solutions and application-specific integrated circuits; power management products; and timing and synchronization devices, and precise time solutions.

Analyst Recommendations for Microsemi (NASDAQ:MSCC)

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