Notable Price Action: A Reversal for Microsemi Corporation Is Not Near. The Stock Reaches 52-Week High Today

Notable Price Action: A Reversal for Microsemi Corporation Is Not Near. The Stock Reaches 52 Week High Today

The stock of Microsemi Corporation (NASDAQ:MSCC) hit a new 52-week high and has $61.29 target or 29.00% above today’s $47.51 share price. The 9 months bullish chart indicates low risk for the $5.38 billion company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $61.29 price target is reached, the company will be worth $1.56B 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 3.07M shares traded hands or 181.65% up from the average. Microsemi Corporation (NASDAQ:MSCC) has risen 8.51% since April 1, 2016 and is uptrending. It has outperformed by 7.29% the S&P500.

Microsemi Corporation (NASDAQ:MSCC) Ratings Coverage

Out of 13 analysts covering Microsemi (NASDAQ:MSCC), 12 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 92% are positive. Microsemi has been the topic of 21 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets on Monday, August 10 with “Outperform”. The rating was upgraded by Zacks to “Sell” on Wednesday, August 26. The stock has “Buy” rating given by Suntrust Robinson on Thursday, January 14. The stock of Microsemi Corporation (NASDAQ:MSCC) has “Buy” rating given on Wednesday, October 14 by Mizuho. Sterne Agee CRT initiated the stock with “Buy” rating in Wednesday, September 9 report. The company was maintained on Monday, January 25 by Needham. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, November 6 report. The stock of Microsemi Corporation (NASDAQ:MSCC) has “Buy” rating given on Friday, January 29 by Topeka Capital Markets. The rating was maintained by Mizuho on Monday, August 22 with “Buy”. The firm has “Outperform” rating given on Monday, August 3 by RBC Capital Markets.

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 2016 Q2. Its down 0.26, from 1.64 in 2016Q1. The ratio turned negative, 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.
Cornerstone Capital Management Hldg Ltd Liability Corporation accumulated 22,182 shares or 0.01% of the stock. Westfield Cap Mngmt Ltd Partnership has 1.77M shares for 0.48% of their US portfolio. Ladenburg Thalmann Fincl Services Inc reported 1,432 shares or 0% of all its holdings. Loomis Sayles & Lp holds 0.04% or 434,798 shares in its portfolio. First Personal Financial Svcs holds 356 shares or 0% of its portfolio. Thompson Siegel & Walmsley Ltd Liability has 0% invested in the company for 41 shares. New York State Teachers Retirement Sys last reported 0.02% of its portfolio in the stock. Moreover, D E Shaw has 0% invested in Microsemi Corporation (NASDAQ:MSCC) for 49,385 shares. First Mercantile Tru Communications has 19,260 shares for 0.08% of their US portfolio. Stephens Ar holds 0% of its portfolio in Microsemi Corporation (NASDAQ:MSCC) for 1,701 shares. Comerica Comml Bank owns 79,209 shares or 0.03% of their US portfolio. Swiss National Bank has 0.01% invested in the company for 185,985 shares. Rosenblum Silverman Sutton S F Inc Ca owns 93,595 shares or 1.47% of their US portfolio. Blackrock Inc accumulated 0% or 47,841 shares. Kistler holds 0% of its portfolio in Microsemi Corporation (NASDAQ:MSCC) for 11 shares.

Insider Transactions: Since May 16, 2016, the stock had 1 buying transaction, and 12 sales for $6.02 million net activity. $59,703 worth of Microsemi Corporation (NASDAQ:MSCC) was sold by FOLINO PAUL F on Thursday, August 18. 15,750 shares with value of $502,520 were bought by LITCHFIELD STEVEN G on Monday, May 16. $498,102 worth of Microsemi Corporation (NASDAQ:MSCC) was sold by PETERSON JAMES J on Thursday, October 13. Goerner Frederick C also sold $275,694 worth of Microsemi Corporation (NASDAQ:MSCC) shares. Shares for $855,994 were sold by HOHENER JOHN W. $227,313 worth of Microsemi Corporation (NASDAQ:MSCC) shares were sold by Pickle Paul H. Goren David also sold $611,705 worth of Microsemi Corporation (NASDAQ:MSCC) shares.

Another recent and important Microsemi Corporation (NASDAQ:MSCC) news was published by Bloomberg.com which published an article titled: “Chipmaker Microsemi Runs Sales Process After Skyworks Approach” on November 02, 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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