Point72 Asia Hong Kong Ltd raised its stake in shares of Microsemi (NASDAQ:MSCC) by 139,400.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,790 shares of the semiconductor company’s stock after purchasing an additional 2,788 shares during the period. Point72 Asia Hong Kong Ltd’s holdings in Microsemi were worth $181,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new position in Microsemi during the 4th quarter valued at about $108,000. Advisor Group Inc. boosted its stake in Microsemi by 92.7% during the 4th quarter. Advisor Group Inc. now owns 2,226 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 1,071 shares during the last quarter. ING Groep NV acquired a new position in Microsemi during the 1st quarter valued at about $232,000. Stone Ridge Asset Management LLC acquired a new position in Microsemi during the 4th quarter valued at about $200,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Microsemi during the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 90.67% of the company’s stock.
Shares of NASDAQ MSCC opened at $68.74 on Friday. Microsemi has a twelve month low of $46.08 and a twelve month high of $68.77. The company has a market capitalization of $8.11 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.57 and a beta of 1.21. The company has a current ratio of 2.27, a quick ratio of 1.57 and a debt-to-equity ratio of 0.86.
MSCC has been the subject of a number of analyst reports. BidaskClub downgraded Microsemi from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 13th. TheStreet downgraded Microsemi from a “b+” rating to a “c+” rating in a research note on Tuesday, May 15th. KeyCorp reiterated an “equal weight” rating on shares of Microsemi in a research note on Wednesday, March 7th. SunTrust Banks downgraded Microsemi from a “buy” rating to a “hold” rating in a research note on Friday, March 2nd. Finally, Stifel Nicolaus downgraded Microsemi from a “buy” rating to a “hold” rating and set a $68.00 target price on the stock. in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $64.32.
In other news, VP Frederick C. Goerner sold 2,102 shares of the business’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $64.76, for a total value of $136,125.52. Following the transaction, the vice president now owns 55,692 shares in the company, valued at approximately $3,606,613.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul F. Folino sold 3,605 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $67.52, for a total value of $243,409.60. The disclosure for this sale can be found here. 0.57% of the stock is owned by insiders.
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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