Microsemi Corporation (NASDAQ: MSCC) posted its quarterly earnings results on Thursday. The company reported $0.50 earnings per share for the quarter, missing the analysts? consensus estimate of $0.52 by $0.02. The company had revenue of $247.60 million for the quarter, compared to the consensus estimate of $252.11 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company?s revenue for the quarter was up 2.8% on a year-over-year basis. Microsemi Corporation updated its Q2 guidance to $0.37-0.43 EPS.
A number of analysts have recently weighed in on MSCC shares. Analysts at FBR Capital raised their price target on shares of Microsemi Corporation from $26.00 to $28.00 in a research note to investors on Wednesday, December 12th. They now have an ?outperform? rating on the stock. Finally, analysts at Needham & Company downgraded shares of Microsemi Corporation from a ?strong-buy? rating to a ?buy? rating in a research note to investors on Friday, November 9th. They now have a $24.00 price target on the stock, down previously from $28.00.
Shares of Microsemi Corporation (MSCC) traded up 0.85% during mid-day trading on Thursday, hitting $20.24. Microsemi Corporation (MSCC) has a 52 week low of $16.57 and a 52 week high of $22.30. The stock?s 50-day moving average is currently $20.75. The company?s market cap is $1.828 billion. Microsemi Corporation (Microsemi) is a designer, manufacturer and marketer of analog and mixed-signal integrated circuits and semiconductors.