Irvine’s Microsemi Corp. Sets 2-for-1 Stock Split

Semiconductor maker Microsemi Corp. Tuesday set a 2-for-1 stock split after stockholders approved an increase in the number of authorized shares of common stock from 20 million to 100 million.

The Irvine company said the stock split will be in the form of a dividend payable in shares of common stock. The dividend is payable Aug. 28 to stockholders of record as of the close of business Aug. 14.

As a result of the stock split, Microsemi’s outstanding shares of common stock would increase from nearly 14.1 million to more than 28.1 million shares.

The stock closed at $64.05, up 4 cents a share, on Nasdaq.