UPDATE: Goldman Sachs Raises Price Target on Microsemi to $19

According to Goldman Sachs, Microsemi

price target is raised to $19. Goldman Sachs said that Microsemi reported 4QCY11 sales of $241 mn (+6% qoq, -11% organically), near the mid-point of guidance of $238 to $246 mn, and in-line with both the Street at $241 mn and GS at $242 mn. “We raise our 12-month price target to $19 from $18, based on 10X normalized EPS of $1.90 (from $1.80 on higher forward EPS).” Microsemi closed yesterday at $20.38.