Microsemi (NASDAQ:MSCC) shares saw unusually-strong trading volume on Wednesday . Approximately 135,522 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 3,080,491 shares.The stock last traded at $68.57 and had previously closed at $68.54.
Several research analysts have commented on MSCC shares. Royal Bank of Canada reiterated a “buy” rating and issued a $66.00 target price on shares of Microsemi in a report on Friday, January 26th. Susquehanna Bancshares raised their target price on shares of Microsemi to $70.00 and gave the stock a “positive” rating in a report on Wednesday, January 24th. BidaskClub upgraded shares of Microsemi from a “hold” rating to a “buy” rating in a report on Thursday, February 15th. SunTrust Banks cut shares of Microsemi from a “buy” rating to a “hold” rating in a report on Friday, March 2nd. Finally, Wells Fargo reiterated a “market perform” rating on shares of Microsemi in a report on Friday, March 2nd. One investment 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. The company currently has a consensus rating of “Hold” and a consensus price target of $64.32.
The company has a current ratio of 2.27, a quick ratio of 1.57 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $8.09 billion, a PE ratio of 21.04, a P/E/G ratio of 1.56 and a beta of 1.21.
In other news, Director Paul F. Folino sold 4,500 shares of the stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $67.27, for a total value of $302,715.00. Following the completion of the sale, the director now directly owns 1,070 shares of the company’s stock, valued at $71,978.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul F. Folino sold 3,605 shares of the stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $67.52, for a total transaction of $243,409.60. The disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock valued at $821,089 over the last three months. 0.57% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alkeon Capital Management LLC bought a new position in Microsemi during the first quarter valued at approximately $746,000. Legal & General Group Plc raised its position in Microsemi by 16.7% during the first quarter. Legal & General Group Plc now owns 138,297 shares of the semiconductor company’s stock valued at $8,951,000 after acquiring an additional 19,763 shares in the last quarter. Quad Capital Management Advisors LLC bought a new position in Microsemi during the first quarter valued at approximately $7,430,568,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Microsemi during the first quarter valued at approximately $8,090,000. Finally, Highbridge Capital Management LLC bought a new position in Microsemi during the first quarter valued at approximately $9,768,000. 92.66% of the stock is owned by institutional investors and hedge funds.
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.
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