Zacks Investment Research upgraded shares of Microsemi Corp (MSCC) from NEUTRAL to OUTPERFORM on January 13, 2014, with a target price of $30.00.
Microsemi Corporation is an OEM of a broad range of high-reliability and analog/mixed signal integrated circuits. Fourth quarter results missed the Zacks Consensus Estimate. The company also provided a weak forward guidance. The bulk of revenue comes from stable end markets (defense, aerospace and medical equipment), where Microsemi serves most of the largest players. Microsemi's compelling products, scope for margin expansion and decent balance sheet are other positives. Additionally, higher projections for the upcoming quarter indicate a better demand environment. We are therefore upgrading Microsemi shares from Neutral to Outperform.
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