Needham & Company Maintains a 'Strong Buy' on Microsemi; Excluding The Impact From Flooding in Thailand, MSCC Is Performing Better Than Most Peers

Needham & Company maintains a 'Strong Buy' on Microsemi Corporation (NASDAQ: MSCC) price target of $26.00.

Needham analyst says, "Microsemi reported in-line F1Q12 results, with a slightly larger than expected decline in core Microsemi revenue offset by a better than expected contribution from Zarlink. The flooding in Thailand had a larger than expected effect of revenue, accounting for more than half of the decline in core Microsemi revenue. Reflecting a residual effect from Thailand and a soft communications end market, F2Q12 revenue guidance was slightly below expectations. Excluding the effect of Thailand flooding, Microsemi’s core revenue appears likely to decline by a high single digit percentage in this market correction, far better than most of its semiconductor peers. With only modest changes to our earnings estimates, management successfully integrating Zarlink and the core business poised to recover from the floods in Thailand, we maintain our rating."

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 $20.38 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Vivos Therapeutics posts 35% revenue gain but widens net loss
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery