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Microsemi Corp. (NASDAQ:MSCC) was upgraded by analysts at Drexel Hamilton from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, reports.

Shares of Microsemi Corp. (NASDAQ:MSCC) opened at 25.533 on Thursday. Microsemi Corp. has a 52 week low of $18.96 and a 52 week high of $26.72. The stock has a 50-day moving average of $24.37 and a 200-day moving average of $24.7. The company has a market cap of $2.399 billion and a price-to-earnings ratio of 52.60.

Microsemi Corp. (NASDAQ:MSCC) last issued its quarterly earnings data 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. On average, analysts predict that Microsemi Corp. will post $2.04 earnings per share for the current fiscal year.

A number of other firms have also recently commented on MSCC. Analysts at Zacks upgraded shares of Microsemi Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, January 13th. They now have a $30.00 price target on the stock. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average 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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