Microsemi Corp. Rating Increased to Outperform at Zacks (MSCC)
Microsemi Corp. (NASDAQ:MSCC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Analyst Ratings Network reports. The firm currently has a $30.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 23.25% from the company’s current price.
Zacks‘ analyst wrote, “Microsemi Corporation is an OEM of a broad range of high-reliability and analog/mixed signal integrated circuits. Fourth quarter results missed the Zacks Consensus Estimate. The company also provided a weak forward guidance. The bulk of revenue comes from stable end markets (defense, aerospace and medical equipment), where Microsemi serves most of the largest players. Microsemi’s compelling products, scope for margin expansion and decent balance sheet are other positives. Additionally, higher projections for the upcoming quarter indicate a better demand environment. We are therefore upgrading Microsemi shares from Neutral to Outperform.”
Microsemi Corp. (NASDAQ:MSCC) traded down 1.26% on Monday, hitting $24.34. 448,840 shares of the company’s stock traded hands. Microsemi Corp. has a one year low of $18.96 and a one year high of $26.72. The stock’s 50-day moving average is $24.21 and its 200-day moving average is $24.62. The company has a market cap of $2.287 billion and a P/E ratio of 51.35.
Microsemi Corp. (NASDAQ:MSCC) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.53 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.53. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate of $250.06 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. Analysts expect that Microsemi Corp. will post $2.04 EPS for the current fiscal year.
Separately, analysts at Drexel Hamilton initiated coverage on shares of Microsemi Corp. in a research note to investors on Wednesday, December 11th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $22.38.
Microsemi Corporation (NASDAQ:MSCC) is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance.
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