Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Challenges Abound, But Overlooked Microsemi Should Be Ready To Deliver

Small-cap chip company Microsemi (NASDAQ:MSCC) gets a lot of flak for what it is (highly exposed to defense) and what it isn't (a fast-growing mobile device story), but the fact remains that this company has grown revenue at a 20% compounded average rate over the past decade. What's more, the company is offering a rare combo - a good legacy business where competition faces an uphill battle, coupled with organic growth opportunities in growth markets and positive margin leverage.

Recent Results Show A Few Halting Steps In The Right Direction

As recent earnings reports from chip companies large [like Analog Devices (NYSE:ADI) and Texas Instruments (NYSE:TXN)] and small [like Avago (NASDAQ:AVGO)] have...

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