Capstone Asset Management Co. Boosts Stake in Microsemi Corporation (MSCC)

Capstone Asset Management Co. increased its stake in Microsemi Corporation (NASDAQ:MSCC) by 11.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,514 shares of the semiconductor company’s stock after buying an additional 1,160 shares during the period. Capstone Asset Management Co.’s holdings in Microsemi Corporation were worth $539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky raised its stake in shares of Microsemi Corporation by 409.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 123,820 shares of the semiconductor company’s stock worth $6,381,000 after buying an additional 99,520 shares during the last quarter. FNY Partners Fund LP raised its stake in Microsemi Corporation by 3,883.8% in the first quarter. FNY Partners Fund LP now owns 23,903 shares of the semiconductor company’s stock worth $1,231,000 after buying an additional 23,303 shares in the last quarter. Macquarie Group Ltd. raised its stake in Microsemi Corporation by 9.8% in the first quarter. Macquarie Group Ltd. now owns 925,523 shares of the semiconductor company’s stock worth $47,692,000 after buying an additional 82,716 shares in the last quarter. AQR Capital Management LLC raised its stake in Microsemi Corporation by 42.7% in the first quarter. AQR Capital Management LLC now owns 86,352 shares of the semiconductor company’s stock worth $4,450,000 after buying an additional 25,860 shares in the last quarter. Finally, State Street Corp raised its stake in Microsemi Corporation by 3.4% in the first quarter. State Street Corp now owns 3,816,410 shares of the semiconductor company’s stock worth $196,656,000 after buying an additional 127,094 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

Microsemi Corporation (NASDAQ:MSCC) opened at 48.78 on Friday. The firm has a market cap of $5.64 billion, a P/E ratio of 49.37 and a beta of 1.16. The firm has a 50 day moving average of $50.74 and a 200 day moving average of $50.59. Microsemi Corporation has a 1-year low of $37.11 and a 1-year high of $57.97.

Microsemi Corporation (NASDAQ:MSCC) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.18. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The company had revenue of $458.10 million for the quarter, compared to analyst estimates of $457.87 million. During the same quarter last year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Microsemi Corporation will post $3.84 EPS for the current year.

Microsemi Corporation announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 43% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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Several analysts have recently commented on the company. Goldman Sachs Group, Inc. (The) upgraded Microsemi Corporation from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $54.00 to $53.00 in a report on Wednesday, July 5th. Zacks Investment Research raised Microsemi Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, August 2nd. KeyCorp started coverage on Microsemi Corporation in a research report on Monday, July 24th. They issued an “overweight” rating and a $61.00 target price on the stock. BidaskClub raised Microsemi Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, TheStreet raised Microsemi Corporation from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $58.00.

In related news, insider Dennis R. Leibel sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $50.76, for a total transaction of $152,280.00. Following the transaction, the insider now owns 4,369 shares of the company’s stock, valued at $221,770.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Robert Anderson sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $51.08, for a total transaction of $51,080.00. Following the transaction, the director now directly owns 15,113 shares in the company, valued at approximately $771,972.04. The disclosure for this sale can be found here. In the last three months, insiders sold 30,108 shares of company stock worth $1,517,717. 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.

Institutional Ownership by Quarter for Microsemi Corporation (NASDAQ:MSCC)

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