Actionable news
0
All posts from Actionable news
Actionable news in MSCC: Microsemi Corporation,

Microsemi Rating Upgraded to Buy on Higher Sales Expectation

Microsemi Corporation’s MSCC rating was recently upgraded to Buy from Neutral by investment firm Goldman Sachs & Co. Also, the firm issued a price target of $55.

Following the news, Microsemi’sshare price was up by 0.89% and closed at $47.75. In the last one year, Microsemi has outperformed the Zacks categorized Semiconductor - Analog and Mixed industry. While the stock returned 47.5%, the industry gained 44.1%.

We believe strategic positioning, strong fundamentals and efficient execution to be tailwinds for Microsemi.

Why the Rating Upgrade?

Mark Delaney, an analyst at Goldman Sachs, expects the sales figure to increase in the coming days, driven by growth in the company’s end markets namely, Defense & Aerospace, Communications, Data Center and Industrial markets.

In the Defense & Aerospace market, Delaney expects increased spending and content gains in this market. In the last reported quarter, Defense & Aerospace generated 25% of...


More