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Mindspeed (MSPD +10.6%) takes off after delivering an FQ1 beat and guiding for FQ2 revenue of...

Mindspeed (MSPD +10.6%) takes off after delivering an FQ1 beat and guiding for FQ2 revenue of $33.5M-$35.5M ($33.4M consensus). Like other chipmakers, Mindspeed claims demand is bottoming following the industry's recent inventory correction. Needham (Buy) sees Mindspeed's Transcede base station processors and recently-acquired Picochip division contributing to strong 2012 growth.
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