Price Action Report: Can Microsemi Corporation’s Tomorrow be Different? The Stock Just Broke Its High

Price Action Report: Can Microsemi Corporation's Tomorrow be Different? The Stock Just Broke Its High

The stock of Microsemi Corporation (NASDAQ:MSCC) hit a new 52-week high and has $71.30 target or 34.00% above today’s $53.21 share price. The 9 months bullish chart indicates low risk for the $6.18B company. The 1-year high was reported on Nov, 16 by If the $71.30 price target is reached, the company will be worth $2.10 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 143,049 shares traded hands. Microsemi Corporation (NASDAQ:MSCC) has risen 41.72% since April 14, 2016 and is uptrending. It has outperformed by 37.03% the S&P500.

Microsemi Corporation (NASDAQ:MSCC) Ratings Coverage

Out of 14 analysts covering Microsemi (NASDAQ:MSCC), 13 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 93% are positive. Microsemi has been the topic of 23 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained Microsemi Corporation (NASDAQ:MSCC) on Friday, January 29 with “Buy” rating. Mizuho initiated Microsemi Corporation (NASDAQ:MSCC) rating on Wednesday, October 14. Mizuho has “Buy” rating and $42 price target. Deutsche Bank initiated Microsemi Corporation (NASDAQ:MSCC) on Tuesday, November 8 with “Buy” rating. The rating was maintained by Mizuho on Friday, November 11 with “Buy”. As per Tuesday, September 20, the company rating was initiated by Susquehanna. The firm earned “Buy” rating on Monday, August 22 by Mizuho. The firm has “Buy” rating given on Friday, April 29 by Topeka Capital Markets. The stock has “Buy” rating given by Needham on Monday, January 25. The company was initiated on Monday, August 3 by RBC Capital Markets. RBC Capital Markets maintained the shares of MSCC in a report on Friday, November 6 with “Outperform” rating.

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 dropped, 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.
Ladenburg Thalmann Fincl Services owns 1,432 shares or 0% of their US portfolio. Public Employees Retirement Association Of Colorado accumulated 0.01% or 22,188 shares. Stevens Cap Mgmt Ltd Partnership reported 101,519 shares or 0.13% of all its holdings. The Illinois-based Castleark Mgmt Limited Liability Company has invested 0.38% in Microsemi Corporation (NASDAQ:MSCC). Rafferty Asset Mngmt Ltd Limited Liability Company has invested 0.04% of its portfolio in Microsemi Corporation (NASDAQ:MSCC). Sphinx Trading Ltd Partnership accumulated 0% or 62 shares. Rothschild Asset Mgmt Inc accumulated 0.4% or 676,745 shares. Putnam Invests Limited Liability Company, a Massachusetts-based fund reported 53,636 shares. Emerald Advisers Pa has invested 1.01% of its portfolio in Microsemi Corporation (NASDAQ:MSCC). Livforsakringsbolaget Skandia Omsesidigt has 0.02% invested in the company for 16,200 shares. Rhumbline Advisers holds 0.02% or 212,713 shares in its portfolio. Amer Fincl Gru last reported 9,699 shares in the company. Panagora Asset Mgmt has 14,051 shares for 0% of their US portfolio. The New York-based Sandler Capital has invested 0.51% in Microsemi Corporation (NASDAQ:MSCC). Sentinel Asset Incorporated owns 344,779 shares or 0.27% of their US portfolio.

Insider Transactions: Since August 9, 2016, the stock had 0 buys, and 16 selling transactions for $18.08 million net activity. $275,694 worth of Microsemi Corporation (NASDAQ:MSCC) shares were sold by Goerner Frederick C. Goren David sold $132,968 worth of stock or 3,453 shares. On Thursday, November 3 HOHENER JOHN W sold $283,560 worth of the stock or 6,000 shares. On Thursday, August 18 FOLINO PAUL F sold $59,703 worth of the stock or 1,500 shares. Pickle Paul H sold $1.05 million worth of stock. Shares for $2.30 million were sold by PETERSON JAMES J.

Another recent and important Microsemi Corporation (NASDAQ:MSCC) news was published by which published an article titled: “Why Microsemi Corporation Stock Jumped” on November 03, 2016.

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 Company’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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