Mindspeed (MSPD) +31% following news it has hired Morgan Stanley to explore strategic...

|About: Mindspeed Technologies, Inc. (MSPD)|By:, SA News Editor

Mindspeed (MSPD) +31% following news it has hired Morgan Stanley to explore strategic alternatives (presumably a sale is among them). Craig-Hallum has upgraded shares to Buy, arguing  the chipmaker could fetch $5/share (1.5x-2x sales), a 118% premium to yesterday's close. On the other hand, Raymond James has downgraded Mindspeed to Market Perform. (FQ2 results)