Garelick Capital Partners Lp buys $5.6 Million stake in Microsemi Corporation (MSCC)

Microsemi Corporation (MSCC) : Garelick Capital Partners Lp scooped up 12,069 additional shares in Microsemi Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 179,274 shares of Microsemi Corporation which is valued at $5.6 Million.Microsemi Corporation makes up approximately 4.55% of Garelick Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Palisade Capital Managementnj boosted its stake in MSCC in the latest quarter, The investment management firm added 46,185 additional shares and now holds a total of 481,394 shares of Microsemi Corporation which is valued at $15.1 Million. Microsemi Corporation makes up approx 0.58% of Palisade Capital Managementnj’s portfolio.First Trust Advisors Lp reduced its stake in MSCC by selling 10,542 shares or 8.48% in the most recent quarter. The Hedge Fund company now holds 113,792 shares of MSCC which is valued at $3.6 Million. Microsemi Corporation makes up approx 0.01% of First Trust Advisors Lp’s portfolio. Cowen Prime Services sold out all of its stake in MSCC during the most recent quarter. The investment firm sold 4,934 shares of MSCC which is valued $154,582.Schwab Charles Investment Management Inc boosted its stake in MSCC in the latest quarter, The investment management firm added 7,861 additional shares and now holds a total of 920,535 shares of Microsemi Corporation which is valued at $30 Million. Microsemi Corporation makes up approx 0.04% of Schwab Charles Investment Management Inc’s portfolio.Huntington National Bank boosted its stake in MSCC in the latest quarter, The investment management firm added 1,144 additional shares and now holds a total of 1,315 shares of Microsemi Corporation which is valued at $44,434.

Microsemi Corporation opened for trading at $31.32 and hit $32.16 on the upside on Monday, eventually ending the session at $31.8, with a gain of 1.50% or 0.47 points. The heightened volatility saw the trading volume jump to 8,69,984 shares. Company has a market cap of $3,597 M.

On the company’s financial health, Microsemi Corporation reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.65. The company had revenue of $444.30 million for the quarter, compared to analysts expectations of $444.71 million. The company’s revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Microsemi Corporation. Company shares were Reiterated by Topeka Capital Markets on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $40 .Company shares were Reiterated by RBC Capital Mkts on Mar 28, 2016 to “Top Pick”, Firm has raised the Price Target to $ 47 from a previous price target of $46 .Company shares were Reiterated by Needham on Mar 28, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $40 .

Microsemi Corporation (Microsemi) is a designer manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemi’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. The principal end markets that its serves include aerospace communications defense and security and industrial. Its products are found in various applications such as communications infrastructure systems; military and commercial satellites and aircrafts oil field equipment and airport security systems.

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