Sandler Capital Management buys $16,394,925 stake in Microsemi Corporation (MSCC)

Microsemi Corporation (MSCC) : Sandler Capital Management scooped up 199,120 additional shares in Microsemi Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 317,485 shares of Microsemi Corporation which is valued at $16,394,925.Microsemi Corporation makes up approximately 2.85% of Sandler Capital Management’s portfolio.

Other Hedge Funds, Including , Van Eck Associates Corp boosted its stake in MSCC in the latest quarter, The investment management firm added 33,456 additional shares and now holds a total of 138,040 shares of Microsemi Corporation which is valued at $7,128,386. Microsemi Corporation makes up approx 0.04% of Van Eck Associates Corp’s portfolio.State Treasurer State Of Michigan boosted its stake in MSCC in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 45,600 shares of Microsemi Corporation which is valued at $1,907,448. Microsemi Corporation makes up approx 0.02% of State Treasurer State Of Michigan’s portfolio.Advisors Asset Management boosted its stake in MSCC in the latest quarter, The investment management firm added 3,747 additional shares and now holds a total of 30,868 shares of Microsemi Corporation which is valued at $1,295,221. Microsemi Corporation makes up approx 0.02% of Advisors Asset Management’s portfolio.Cambiar Investors reduced its stake in MSCC by selling 78,694 shares or 7.64% in the most recent quarter. The Hedge Fund company now holds 952,003 shares of MSCC which is valued at $36,423,635. Microsemi Corporation makes up approx 0.50% of Cambiar Investors’s portfolio.

Microsemi Corporation closed down -0.16 points or -0.29% at $54.3 with 15,58,856 shares getting traded on Monday. Post opening the session at $54.32, the shares hit an intraday low of $53.91 and an intraday high of $54.69 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Microsemi Corporation reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 10, 2016. Analyst had a consensus of $0.90. The company had revenue of $450.10 million for the quarter, compared to analysts expectations of $448.07 million. The company’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Microsemi Corporation. Company shares were Reiterated by Mizuho on Nov 11, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $46 .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 .

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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