Mindspeed Technologies (MSPD) Surges after Hiring Banker for a Possible Sale

Mindspeed Technologies, Inc. (NASDAQ: MSPD) is rising 33 percent early Wednesday after the company announced with earnings after the close that it has retained Morgan Stanley & Co. LLC as financial advisor to assist the board of directors in evaluating various strategic alternatives available to the company.

Analysts at Craig-Hallum - which upgraded the stock to Buy - think the company could be bought for 1.5x to 2.0x sales or roughly $5 per share.

Shares of Mindspeed last traded at $2.99, up 30.6 percent.

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