The stock of Microsemi Corporation (NASDAQ:MSCC) reached all time high today, Oct, 7 and still has $55.55 target or 33.00% above today’s $41.77 share price. This indicates more upside for the $4.79B company. This technical setup was reported by Barchart.com. If the $55.55 PT is reached, the company will be worth $1.58 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 534,120 shares traded hands. Microsemi Corporation (NASDAQ:MSCC) has risen 17.15% since March 4, 2016 and is uptrending. It has outperformed by 9.11% the S&P500.
Analysts await Microsemi Corporation (NASDAQ:MSCC) to report earnings on November, 3. They expect $0.73 earnings per share, up 21.67% or $0.13 from last year’s $0.6 per share. MSCC’s profit will be $83.71M for 14.30 P/E if the $0.73 EPS becomes a reality. After $0.62 actual earnings per share reported by Microsemi Corporation for the previous quarter, Wall Street now forecasts 17.74% EPS growth.
Microsemi Corporation (NASDAQ:MSCC) Ratings Coverage
Out of 13 analysts covering Microsemi (NASDAQ:MSCC), 12 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 92% are positive. Microsemi has been the topic of 21 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Monday, September 21 by Zacks. RBC Capital Markets maintained Microsemi Corporation (NASDAQ:MSCC) on Monday, August 10 with “Outperform” rating. On Friday, November 6 the stock rating was maintained by RBC Capital Markets with “Outperform”. The company was upgraded on Wednesday, August 26 by Zacks. The rating was upgraded by Wells Fargo on Friday, January 29 to “Outperform”. The firm has “Top Pick” rating by RBC Capital Markets given on Thursday, February 25. The firm has “Outperform” rating given on Monday, August 3 by RBC Capital Markets. The company was initiated on Tuesday, September 20 by Susquehanna. The stock of Microsemi Corporation (NASDAQ:MSCC) earned “Buy” rating by Mizuho on Wednesday, October 14. On Monday, August 22 the stock rating was maintained by Mizuho with “Buy”.
According to Zacks Investment Research, “Microsemi Corp. is a leading designer, manufacturer and marketer of analog, mixed-signal and discrete semiconductors. The company’s semiconductors manage and regulate power, protect against transient voltage spikes and transmit, receive and amplify signals. The company’s products include individual components as well as complete circuit solutions that enhance our customers’ end products by providing battery optimization, reducing size or protecting circuits. (PRESS RELEASE)”
Insitutional Activity: The institutional sentiment decreased to 1.38 in Q2 2016. Its down 0.26, from 1.64 in 2016Q1. The ratio turned negative, as 30 funds sold all Microsemi Corporation shares owned while 75 reduced positions. 36 funds bought stakes while 109 increased positions. They now own 119.08 million shares or 2.64% more from 116.01 million shares in 2016Q1.
1St Global Advisors Inc accumulated 9,239 shares or 0.04% of the stock. Oregon Pub Employees Retirement Fund accumulated 38,026 shares or 0.03% of the stock. Rothschild Asset Mgmt holds 0.4% of its portfolio in Microsemi Corporation (NASDAQ:MSCC) for 676,745 shares. The Sweden-based Livforsakringsbolaget Skandia Omsesidigt has invested 0.02% in Microsemi Corporation (NASDAQ:MSCC). United Serv Automobile Association holds 0.04% of its portfolio in Microsemi Corporation (NASDAQ:MSCC) for 349,200 shares. Rhumbline Advisers holds 0.02% or 212,713 shares in its portfolio. Focused Wealth Management holds 0% of its portfolio in Microsemi Corporation (NASDAQ:MSCC) for 2 shares. Blackrock Fund Advsrs reported 5.99 million shares or 0.04% of all its holdings. Palisade Ltd Limited Liability Company Nj accumulated 430,422 shares or 0.51% of the stock. First Republic holds 58,407 shares or 0.02% of its portfolio. Tower Rech Ltd Liability Com (Trc) holds 0.07% or 21,444 shares in its portfolio. Janney Montgomery Scott Ltd Liability Corp has invested 0.01% of its portfolio in Microsemi Corporation (NASDAQ:MSCC). Moreover, Alphaone Inv Svcs Limited Liability Company has 0.15% invested in Microsemi Corporation (NASDAQ:MSCC) for 12,530 shares. The Pennsylvania-based Stoneridge Investment Lc has invested 0.09% in Microsemi Corporation (NASDAQ:MSCC). Rafferty Asset Mngmt Limited Liability Com accumulated 16,053 shares or 0.04% of the stock.
Insider Transactions: Since May 16, 2016, the stock had 1 insider buy, and 2 sales for $285,250 net activity. Another trade for 4,000 shares valued at $157,567 was made by Goerner Frederick C on Tuesday, August 9. Another trade for 1,500 shares valued at $59,703 was made by FOLINO PAUL F on Thursday, August 18. Shares for $502,520 were bought by LITCHFIELD STEVEN G.
MSCC Company Profile
Microsemi Corporation (Microsemi), incorporated on September 27, 1960, is a designer, maker and marketer of high-performance analog and mixed-signal semiconductor solutions. The Companyâ€™s products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs); power management products; timing and synchronization devices and precise time solutions; voice processing devices; radio frequency (RF) solutions; discrete components; security technologies and scalable anti-tamper products; Power-over-Ethernet (PoE) ICs and midspans, as well as custom design capabilities and services.
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