Oppenheimer Maintains Outperform Rating and $28 PT on Microsemi

A report from Oppenheimer reiterates its Outperform rating and $28 price target on Microsemi Corp.

. The report states, “Microsemi reports F4Q (Sept.) results after the close Thursday. We look for an in-line qtr (sales up 4% Q/Q) and a 1Q (Dec.) outlook that Morning Summary - November 9, 2011 3includes ZL's contribution for the first time. While MSCC enjoys best-in-class visibility and stable backlog, it's not immune to macro. Organically, we expect MSCC would guide sales down ~5-10% Q/Q to reflect the current climate and the production impact (~5%) stemming from the still-unfolding Thailand disaster." MSCC closed yesterday at $18.37.