Microsemi (MSCC) NewsBite - MSCC Rises on Q4 Earnings

Posted: Friday, November 13, 2009 11:04 AM EDT

Microsemi (NasdaqNM: MSCC) opened at $15.22. So far today, the stock has hit a low of $15.21 and a high of $15.94. MSCC is now trading at $15.57, up $1.18 (8.17%). Over the last 52 weeks the stock has ranged from a low of $7.06 to a high of $20.00. MSCC reported earnings last night, posting a fourth-quarter loss of $31.26 million, or 39 cents per share. Excluding one-time items, MSCC earned 24 cents per share on revenue of $109.68 million, beating analysts' forecasts of 23 cents per share on revenue of $109.44 million. Technical indicators for the stock are neutral and S&P gives MSCC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MSCC the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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