Short Interest Update on Microsemi Corporation (MSCC)

Microsemi Corporation (MSCC) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 9,283,956 to 8,654,820 shares, with 9 days to go before the expiry. The short open interest has decreased by -6.8%, amounting to a reduction of -629,136 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 7.7% of the float of the company. The average daily volume of the stock is 945,164 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Microsemi Corporation (NASDAQ:MSCC): The stock opened at $40.57 on Wednesday but the bulls could not build on the opening and the stock topped out at $40.86 for the day. The stock traded down to $40.24 during the day, due to lack of any buying support eventually closed down at $40.38 with a loss of -0.69% for the day. The stock had closed at $40.66 on the previous day. The total traded volume was 551,591 shares.


In a related news, Folino Paul F, director of Microsemi Corp, unloaded 1,500 shares at an average price of $39.8 on August 18, 2016. The total amount of the transaction was worth $59,700, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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.

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