Microsemi Corporation (MSCC) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.67 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.65. The company posted revenue of $444.30 million in the period, 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 opened for trading at $36.63 and hit $37.5 on the upside on Wednesday, eventually ending the session at $37.39, with a gain of 1.16% or 0.43 points. The heightened volatility saw the trading volume jump to 5,74,864 shares. Company has a market cap of $4,202 M.
In a different news, on Mar 23, 2016, William L Healey (director) sold 2,500 shares at $37.28 per share price. According to the SEC, on Mar 2, 2016, Frederick C Goerner (Exec VP Worldwide Sales & Mktg) sold 4,000 shares at $35.72 per share price. On Feb 18, 2016, Paul F Folino (director) sold 4,542 shares at $33.08 per share price, according to the Form-4 filing with the securities and exchange commission.
Microsemi Corporation (Microsemi) is a designer manufacturer and marketer of high-performance analog and mixed-signal semiconductor solutions. Microsemis 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.