Needham & Company Maintains a 'Strong Buy' Microsemi (MSCC); Navigating The Downturn Better Than Most Peers
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Price: $68.74 --0%
Rating Summary:
2 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 7
Rating Summary:
2 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 7
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Needham & Company maintains a 'Strong Buy' Microsemi Corporation (NASDAQ: MSCC) price target lowered $2 to $26.
Needham analyst says, "Microsemi reported in-line F4Q11 results, but like many of its semiconductor peers guided organic revenue to decline in F1Q12. Overall revenue will increase as the company recognizes a partial quarter of Zarlink revenue. Though organic revenue is set to decline by approximately 8% Q/Q at the mid-point, we note that 4%-5% of this is due to the effect of flooding in Thailand on subcontractor manufacturing. As such, excluding the Thailand effect, Microsemi’s top-line would have only declined by 3%-4% sequentially, a significantly lower decline than most semiconductor companies have experienced this downturn." (Needham lowers FY12 EPS estimate from $2.25 to $1.95)
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 $17.25 yesterday.
Needham analyst says, "Microsemi reported in-line F4Q11 results, but like many of its semiconductor peers guided organic revenue to decline in F1Q12. Overall revenue will increase as the company recognizes a partial quarter of Zarlink revenue. Though organic revenue is set to decline by approximately 8% Q/Q at the mid-point, we note that 4%-5% of this is due to the effect of flooding in Thailand on subcontractor manufacturing. As such, excluding the Thailand effect, Microsemi’s top-line would have only declined by 3%-4% sequentially, a significantly lower decline than most semiconductor companies have experienced this downturn." (Needham lowers FY12 EPS estimate from $2.25 to $1.95)
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 $17.25 yesterday.
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