Needham & Company Reiterates a 'Strong Buy' on Microsemi (MSCC); Raising Estimates on Good Guidance
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Price: $68.74 --0%
Rating Summary:
2 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
Rating Summary:
2 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
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Needham & Company reiterates a 'Strong Buy' on Microsemi Corporation (NASDAQ: MSCC) price target raised $1 to $27.
Analyust, N. Quinn Bolton, said, "Microsemi delivered strong F2Q12 results and provided F3Q12 guidance ahead of expectations reflecting improving order patterns and visibility across its four business lines. We are particularly pleased that guidance for F3Q12 sales to increase by 3%-5% Q/Q reflects organic growth, and we expect this organic growth to continue in F4Q12. We believe MSCC’s valuation multiple should increase as investors regain confidence in the company’s organic growth rate. With order trends improving, organic growth re-emerging and earnings estimates increasing."
"Our FY12 estimates increase to $1.01bn/$1.95 from $1.00bn/$1.90. Our FY13 estimates increase to $1.12bn/$2.60 from $1.10bn/$2.50."
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 $20.20 yesterday.
Analyust, N. Quinn Bolton, said, "Microsemi delivered strong F2Q12 results and provided F3Q12 guidance ahead of expectations reflecting improving order patterns and visibility across its four business lines. We are particularly pleased that guidance for F3Q12 sales to increase by 3%-5% Q/Q reflects organic growth, and we expect this organic growth to continue in F4Q12. We believe MSCC’s valuation multiple should increase as investors regain confidence in the company’s organic growth rate. With order trends improving, organic growth re-emerging and earnings estimates increasing."
"Our FY12 estimates increase to $1.01bn/$1.95 from $1.00bn/$1.90. Our FY13 estimates increase to $1.12bn/$2.60 from $1.10bn/$2.50."
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 $20.20 yesterday.
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