Wells Fargo Upgrades Microsemi Corporation (MSCC) to Outperform; Signs of Recovery

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Wells Fargo upgraded Microsemi Corporation (NASDAQ: MSCC) from Market Perform to Outperform, price target range $18-$22.

Analyst, David Wong, said, "Microsemi’s stock price has corrected recently to the point at which we think there is now good upside potential to the midpoint of our valuation range of $18-22. Although investors are clearly concerned about macroeconomic uncertainties, we continue to think that there are sector specific considerations for the semiconductor industry that could drive semiconductor growth in the June 2012 quarter and second half of the year."

For an analyst ratings summary and ratings history on Microsemi Corporation click here. For more ratings news on Microsemi Corporation click here.

Shares of Microsemi Corporation closed at $17.32 yesterday, with a 52 week range of $14.49-$22.30.

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