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    Friday, November 13, 2009

    Microsemi 4Q Beats Street View; Shares Upgraded

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      Microsemi Corp. (MSCC) shares rose 5.2% to $15.44 following the release of its fourth quarter profits, which beat analysts' expectations by 1 cent.

      Meanwhile, Needham upgraded the company from hold to buy, setting a price target at $18 per share. 

      The maker of circuits and semiconductors was helped in its most recent quarter by lower inventory and higher operating margins. 

      For the first quarter, the company is predicting adjusted earnings per share of 24 to 26 cents.

       

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