Kellner Capital LLC Purchases Shares of 148,700 Microsemi (MSCC)

Kellner Capital LLC purchased a new stake in Microsemi (NASDAQ:MSCC) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 148,700 shares of the semiconductor company’s stock, valued at approximately $9,624,000. Microsemi accounts for about 5.9% of Kellner Capital LLC’s portfolio, making the stock its 7th largest position. Kellner Capital LLC owned 0.13% of Microsemi as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. increased its position in Microsemi by 6.7% during the 4th quarter. BlackRock Inc. now owns 10,817,946 shares of the semiconductor company’s stock worth $558,748,000 after purchasing an additional 680,797 shares during the period. Lyrical Asset Management LP increased its position in Microsemi by 4.0% during the 4th quarter. Lyrical Asset Management LP now owns 3,366,782 shares of the semiconductor company’s stock worth $173,894,000 after purchasing an additional 130,876 shares during the period. Boston Partners increased its position in Microsemi by 2.5% during the 4th quarter. Boston Partners now owns 3,074,329 shares of the semiconductor company’s stock worth $158,789,000 after purchasing an additional 73,916 shares during the period. TIAA CREF Investment Management LLC increased its position in Microsemi by 34.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,331,576 shares of the semiconductor company’s stock worth $68,776,000 after purchasing an additional 339,606 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Microsemi by 24.4% during the 4th quarter. Allianz Asset Management GmbH now owns 1,305,858 shares of the semiconductor company’s stock worth $76,649,000 after purchasing an additional 255,963 shares during the period. Institutional investors own 92.66% of the company’s stock.

In related news, Director Paul F. Folino sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $67.27, for a total value of $302,715.00. Following the sale, the director now owns 1,070 shares of the company’s stock, valued at approximately $71,978.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Goren sold 2,090 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $66.43, for a total value of $138,838.70. Following the completion of the sale, the senior vice president now directly owns 10,539 shares in the company, valued at approximately $700,105.77. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock worth $821,089 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Shares of NASDAQ:MSCC opened at $68.58 on Friday. The company has a market cap of $8.09 billion, a PE ratio of 19.32, a PEG ratio of 1.56 and a beta of 1.21. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.57 and a current ratio of 2.27. Microsemi has a 12 month low of $68.50 and a 12 month high of $68.56.

MSCC has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $66.00 target price on shares of Microsemi in a research report on Friday, January 26th. Susquehanna Bancshares boosted their target price on Microsemi to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, January 24th. BidaskClub upgraded Microsemi from a “hold” rating to a “buy” rating in a research report on Thursday, February 15th. SunTrust Banks cut Microsemi from a “buy” rating to a “hold” rating in a research report on Friday, March 2nd. Finally, Wells Fargo reissued a “market perform” rating on shares of Microsemi in a research note on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.32.

Microsemi Profile

Microsemi Corporation designs, manufactures, and markets analog and mixed-signal semiconductor solutions in the United States, Europe, and Asia. The company offers analog mixed-signal integrated circuits; field programmable gate arrays; system on chip solutions and application-specific integrated circuits; power management products; and timing and synchronization devices, and precise time solutions.

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Institutional Ownership by Quarter for Microsemi (NASDAQ:MSCC)

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