Garelick Capital Partners LP reduced its position in shares of Microsemi Corporation (NASDAQ:MSCC) by 50.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,218 shares of the semiconductor company’s stock after selling 233,567 shares during the period. Microsemi Corporation comprises about 2.7% of Garelick Capital Partners LP’s holdings, making the stock its 21st largest position. Garelick Capital Partners LP owned 0.20% of Microsemi Corporation worth $11,966,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Rainier Investment Management LLC purchased a new stake in shares of Microsemi Corporation during the third quarter worth about $8,685,000. Gotham Asset Management LLC bought a new stake in Microsemi Corporation during the third quarter worth $3,761,000. D. E. Shaw & Co. Inc. raised its stake in Microsemi Corporation by 303.0% in the third quarter. D. E. Shaw & Co. Inc. now owns 199,024 shares of the semiconductor company’s stock worth $8,355,000 after buying an additional 149,639 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new stake in Microsemi Corporation during the third quarter worth $3,809,000. Finally, Pioneer Investment Management Inc. raised its stake in Microsemi Corporation by 1.8% in the third quarter. Pioneer Investment Management Inc. now owns 925,340 shares of the semiconductor company’s stock worth $38,846,000 after buying an additional 16,255 shares in the last quarter.
Microsemi Corporation (MSCC) traded down 0.83% during midday trading on Tuesday, reaching $47.98. 335,730 shares of the company traded hands. Microsemi Corporation has a 12 month low of $29.68 and a 12 month high of $57.97. The firm has a 50 day moving average of $49.29 and a 200-day moving average of $52.11. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 25.37 and a beta of 1.14.
Microsemi Corporation (NASDAQ:MSCC) last announced its earnings results on Thursday, April 27th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.73 by $0.18. The firm had revenue of $442.90 million for the quarter, compared to the consensus estimate of $439.79 million. Microsemi Corporation had a net margin of 12.77% and a return on equity of 18.77%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. Analysts forecast that Microsemi Corporation will post $3.82 EPS for the current fiscal year.
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A number of equities analysts recently commented on MSCC shares. TheStreet upgraded shares of Microsemi Corporation from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Needham & Company LLC decreased their price objective on shares of Microsemi Corporation from $63.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Raymond James Financial, Inc. started coverage on shares of Microsemi Corporation in a research note on Friday. They set a “market perform” rating for the company. Royal Bank Of Canada downgraded shares of Microsemi Corporation from a “top pick” rating to an “outperform” rating and decreased their target price for the stock from $64.00 to $58.00 in a research note on Wednesday, June 14th. Finally, BidaskClub cut shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. Microsemi Corporation presently has an average rating of “Buy” and an average price target of $55.18.
In related news, Chairman James J. Peterson sold 8,800 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $47.93, for a total value of $421,784.00. Following the completion of the transaction, the chairman now directly owns 175,781 shares of the company’s stock, valued at $8,425,183.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Frederick C. Goerner sold 2,000 shares of Microsemi Corporation stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $50.89, for a total transaction of $101,780.00. Following the transaction, the vice president now directly owns 61,782 shares of the company’s stock, valued at $3,144,085.98. The disclosure for this sale can be found here. Insiders have sold a total of 53,184 shares of company stock worth $2,627,341 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.
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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