First Mercantile Trust Co Lowers stake in Microsemi Corporation (MSCC)

Microsemi Corporation (MSCC) : First Mercantile Trust Co reduced its stake in Microsemi Corporation by 2.38% during the most recent quarter end. The investment management company now holds a total of 18,802 shares of Microsemi Corporation which is valued at $781,975 after selling 458 shares in Microsemi Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Microsemi Corporation makes up approximately 0.10% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading added MSCC to its portfolio by purchasing 26,691 company shares during the most recent quarter which is valued at $1,110,079. Microsemi Corporation makes up approx 0.14% of Simplex Trading’s portfolio.Independent Portfolio Consultants reduced its stake in MSCC by selling 430 shares or 2.03% in the most recent quarter. The Hedge Fund company now holds 20,765 shares of MSCC which is valued at $870,261. Microsemi Corporation makes up approx 0.27% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MSCC by selling 30,353 shares or 60.08% in the most recent quarter. The Hedge Fund company now holds 20,166 shares of MSCC which is valued at $845,157. Telemus Capital added MSCC to its portfolio by purchasing 5,475 company shares during the most recent quarter which is valued at $229,457. Microsemi Corporation makes up approx 0.03% of Telemus Capital’s portfolio. Washington Trust Bank added MSCC to its portfolio by purchasing 14 company shares during the most recent quarter which is valued at $587.

Microsemi Corporation closed down -0.83 points or -1.96% at $41.59 with 9,18,354 shares getting traded on Friday. Post opening the session at $42.36, the shares hit an intraday low of $41.34 and an intraday high of $42.36 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Microsemi Corporation reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.72. The company had revenue of $431.40 million for the quarter, compared to analysts expectations of $430.26 million. The company’s revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on Microsemi Corporation. Microsemi Corporation was Initiated by Susquehanna to “Positive” on Sep 20, 2016. Company shares were Reiterated by Stifel on Sep 9, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .Company shares were Reiterated by Mizuho on Aug 22, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .

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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