Intrinsic value of Microsemi - MSCC

Previous Close

$58.18

  Intrinsic Value

$19.55

stock screener

  Rating & Target

str. sell

-66%

Previous close

$58.18

 
Intrinsic value

$19.55

 
Up/down potential

-66%

 
Rating

str. sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MSCC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  9.49
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
Revenue, $m
  1,812
  1,913
  2,019
  2,130
  2,246
  2,367
  2,494
  2,627
  2,766
  2,911
  3,063
  3,223
  3,390
  3,565
  3,749
  3,942
  4,144
  4,355
  4,577
  4,810
  5,055
  5,311
  5,580
  5,863
  6,159
  6,470
  6,796
  7,138
  7,498
  7,875
  8,271
Variable operating expenses, $m
 
  1,836
  1,924
  2,016
  2,112
  2,213
  2,318
  2,428
  2,543
  2,663
  2,790
  2,672
  2,811
  2,956
  3,109
  3,268
  3,436
  3,611
  3,796
  3,989
  4,191
  4,404
  4,627
  4,861
  5,107
  5,365
  5,635
  5,919
  6,217
  6,530
  6,858
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,542
  1,836
  1,924
  2,016
  2,112
  2,213
  2,318
  2,428
  2,543
  2,663
  2,790
  2,672
  2,811
  2,956
  3,109
  3,268
  3,436
  3,611
  3,796
  3,989
  4,191
  4,404
  4,627
  4,861
  5,107
  5,365
  5,635
  5,919
  6,217
  6,530
  6,858
Operating income, $m
  270
  77
  95
  114
  134
  155
  176
  199
  223
  247
  274
  550
  579
  609
  640
  673
  708
  744
  782
  822
  863
  907
  953
  1,001
  1,052
  1,105
  1,161
  1,219
  1,281
  1,345
  1,413
EBITDA, $m
  511
  401
  424
  447
  471
  496
  523
  551
  580
  610
  642
  676
  711
  748
  786
  827
  869
  913
  960
  1,009
  1,060
  1,114
  1,170
  1,229
  1,292
  1,357
  1,425
  1,497
  1,572
  1,651
  1,735
Interest expense (income), $m
  105
  92
  99
  106
  113
  121
  129
  137
  146
  155
  165
  175
  186
  197
  208
  220
  233
  247
  261
  275
  291
  307
  324
  342
  361
  380
  401
  422
  445
  469
  494
Earnings before tax, $m
  136
  -15
  -3
  8
  21
  34
  48
  62
  77
  92
  109
  376
  394
  412
  432
  453
  475
  497
  521
  546
  573
  600
  629
  660
  691
  725
  760
  797
  836
  876
  919
Tax expense, $m
  -40
  0
  0
  2
  6
  9
  13
  17
  21
  25
  29
  101
  106
  111
  117
  122
  128
  134
  141
  148
  155
  162
  170
  178
  187
  196
  205
  215
  226
  237
  248
Net income, $m
  176
  -15
  -3
  6
  15
  25
  35
  45
  56
  67
  79
  274
  287
  301
  315
  331
  346
  363
  380
  399
  418
  438
  459
  481
  505
  529
  555
  582
  610
  640
  671

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  145
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  4,323
  4,409
  4,653
  4,908
  5,175
  5,454
  5,747
  6,052
  6,372
  6,707
  7,058
  7,426
  7,811
  8,215
  8,638
  9,082
  9,547
  10,035
  10,547
  11,084
  11,647
  12,238
  12,858
  13,508
  14,191
  14,907
  15,659
  16,448
  17,276
  18,145
  19,058
Adjusted assets (=assets-cash), $m
  4,178
  4,409
  4,653
  4,908
  5,175
  5,454
  5,747
  6,052
  6,372
  6,707
  7,058
  7,426
  7,811
  8,215
  8,638
  9,082
  9,547
  10,035
  10,547
  11,084
  11,647
  12,238
  12,858
  13,508
  14,191
  14,907
  15,659
  16,448
  17,276
  18,145
  19,058
Revenue / Adjusted assets
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
Average production assets, $m
  1,030
  1,087
  1,147
  1,210
  1,276
  1,345
  1,417
  1,492
  1,571
  1,653
  1,740
  1,831
  1,926
  2,025
  2,129
  2,239
  2,354
  2,474
  2,600
  2,732
  2,871
  3,017
  3,170
  3,330
  3,498
  3,675
  3,860
  4,055
  4,259
  4,473
  4,698
Working capital, $m
  348
  279
  295
  311
  328
  346
  364
  383
  404
  425
  447
  471
  495
  521
  547
  575
  605
  636
  668
  702
  738
  775
  815
  856
  899
  945
  992
  1,042
  1,095
  1,150
  1,208
Total debt, $m
  1,797
  1,862
  1,995
  2,133
  2,278
  2,430
  2,588
  2,754
  2,928
  3,110
  3,301
  3,500
  3,709
  3,929
  4,159
  4,400
  4,652
  4,917
  5,195
  5,487
  5,792
  6,113
  6,450
  6,803
  7,174
  7,563
  7,971
  8,399
  8,849
  9,321
  9,816
Total liabilities, $m
  2,329
  2,394
  2,527
  2,665
  2,810
  2,962
  3,120
  3,286
  3,460
  3,642
  3,833
  4,032
  4,241
  4,461
  4,691
  4,932
  5,184
  5,449
  5,727
  6,019
  6,324
  6,645
  6,982
  7,335
  7,706
  8,095
  8,503
  8,931
  9,381
  9,853
  10,348
Total equity, $m
  1,994
  2,015
  2,127
  2,243
  2,365
  2,493
  2,626
  2,766
  2,912
  3,065
  3,226
  3,394
  3,570
  3,754
  3,948
  4,150
  4,363
  4,586
  4,820
  5,065
  5,323
  5,593
  5,876
  6,173
  6,485
  6,813
  7,156
  7,517
  7,895
  8,292
  8,709
Total liabilities and equity, $m
  4,323
  4,409
  4,654
  4,908
  5,175
  5,455
  5,746
  6,052
  6,372
  6,707
  7,059
  7,426
  7,811
  8,215
  8,639
  9,082
  9,547
  10,035
  10,547
  11,084
  11,647
  12,238
  12,858
  13,508
  14,191
  14,908
  15,659
  16,448
  17,276
  18,145
  19,057
Debt-to-equity ratio
  0.901
  0.920
  0.940
  0.950
  0.960
  0.970
  0.990
  1.000
  1.010
  1.010
  1.020
  1.030
  1.040
  1.050
  1.050
  1.060
  1.070
  1.070
  1.080
  1.080
  1.090
  1.090
  1.100
  1.100
  1.110
  1.110
  1.110
  1.120
  1.120
  1.120
  1.130
Adjusted equity ratio
  0.443
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457
  0.457

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  176
  -15
  -3
  6
  15
  25
  35
  45
  56
  67
  79
  274
  287
  301
  315
  331
  346
  363
  380
  399
  418
  438
  459
  481
  505
  529
  555
  582
  610
  640
  671
Depreciation, amort., depletion, $m
  241
  324
  328
  333
  337
  342
  347
  352
  357
  363
  369
  125
  132
  139
  146
  153
  161
  169
  178
  187
  197
  207
  217
  228
  240
  252
  264
  278
  292
  306
  322
Funds from operations, $m
  479
  309
  325
  339
  352
  367
  381
  397
  413
  430
  448
  400
  419
  440
  461
  484
  508
  532
  559
  586
  615
  645
  676
  710
  744
  781
  819
  859
  902
  946
  992
Change in working capital, $m
  4
  15
  15
  16
  17
  18
  19
  19
  20
  21
  22
  23
  24
  26
  27
  28
  29
  31
  32
  34
  36
  37
  39
  41
  43
  45
  48
  50
  52
  55
  58
Cash from operations, $m
  475
  294
  309
  323
  335
  349
  363
  378
  393
  409
  426
  376
  395
  414
  434
  456
  478
  502
  526
  552
  579
  607
  637
  668
  701
  735
  772
  809
  849
  891
  935
Maintenance CAPEX, $m
  0
  -71
  -74
  -79
  -83
  -87
  -92
  -97
  -102
  -108
  -113
  -119
  -125
  -132
  -139
  -146
  -153
  -161
  -169
  -178
  -187
  -197
  -207
  -217
  -228
  -240
  -252
  -264
  -278
  -292
  -306
New CAPEX, $m
  -55
  -57
  -60
  -63
  -66
  -69
  -72
  -75
  -79
  -83
  -87
  -91
  -95
  -100
  -104
  -109
  -115
  -120
  -126
  -132
  -139
  -146
  -153
  -160
  -168
  -177
  -185
  -195
  -204
  -214
  -225
Cash from investing activities, $m
  -94
  -128
  -134
  -142
  -149
  -156
  -164
  -172
  -181
  -191
  -200
  -210
  -220
  -232
  -243
  -255
  -268
  -281
  -295
  -310
  -326
  -343
  -360
  -377
  -396
  -417
  -437
  -459
  -482
  -506
  -531
Free cash flow, $m
  381
  167
  175
  181
  187
  193
  199
  205
  212
  219
  226
  166
  174
  183
  191
  201
  210
  220
  231
  242
  253
  265
  278
  291
  305
  319
  335
  351
  367
  385
  403
Issuance/(repayment) of debt, $m
  -421
  126
  133
  139
  145
  152
  159
  166
  174
  182
  191
  200
  209
  219
  230
  241
  253
  265
  278
  292
  306
  321
  337
  353
  371
  389
  408
  428
  450
  472
  495
Issuance/(repurchase) of shares, $m
  2
  120
  115
  110
  107
  103
  99
  95
  90
  86
  81
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -425
  246
  248
  249
  252
  255
  258
  261
  264
  268
  272
  200
  209
  219
  230
  241
  253
  265
  278
  292
  306
  321
  337
  353
  371
  389
  408
  428
  450
  472
  495
Total cash flow (excl. dividends), $m
  -45
  412
  422
  430
  438
  447
  456
  466
  476
  487
  498
  366
  384
  402
  421
  442
  463
  485
  508
  533
  559
  586
  614
  644
  675
  708
  743
  779
  817
  857
  899
Retained Cash Flow (-), $m
  -265
  -120
  -115
  -117
  -122
  -128
  -133
  -140
  -146
  -153
  -160
  -168
  -176
  -185
  -193
  -203
  -213
  -223
  -234
  -245
  -257
  -270
  -283
  -297
  -312
  -327
  -344
  -361
  -378
  -397
  -417
Prev. year cash balance distribution, $m
 
  84
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  377
  307
  314
  316
  319
  323
  326
  330
  333
  337
  198
  208
  217
  228
  239
  250
  262
  275
  288
  301
  316
  331
  347
  363
  381
  399
  418
  438
  460
  482
Discount rate, %
 
  6.80
  7.14
  7.50
  7.87
  8.27
  8.68
  9.11
  9.57
  10.05
  10.55
  11.08
  11.63
  12.21
  12.82
  13.46
  14.14
  14.84
  15.59
  16.37
  17.18
  18.04
  18.94
  19.89
  20.89
  21.93
  23.03
  24.18
  25.39
  26.66
  27.99
PV of cash for distribution, $m
 
  353
  268
  252
  234
  215
  196
  177
  159
  141
  124
  62
  55
  49
  42
  36
  30
  25
  20
  16
  13
  10
  7
  5
  4
  3
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  100
  98.2
  96.6
  95.2
  93.9
  92.7
  91.7
  90.8
  89.9
  89.1
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5
  88.5

Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets. Its products include high-performance and radiation-hardened analog mixed-signal integrated circuits (ICs), field programmable gate arrays (FPGAs), system on chip solutions (SoCs) and application-specific integrated circuits (ASICs) and power management products. The Company's marketed products include Switchtec PFX PCIe switch, Flashtec NVM Express (NVMe)2032 and NVMe2016 controllers, Flashtec NVM Express (NVMe)2108 eight channel and NVMe2104 four channel controllers, PDS-EM-8100 PoE 2.5 gigabits per second (Gbps) Multiplexer, Chip Scale Atomic Clock (CSAC) components and miTimePLL.

FINANCIAL RATIOS  of  Microsemi (MSCC)

Valuation Ratios
P/E Ratio 38.4
Price to Sales 3.7
Price to Book 3.4
Price to Tangible Book
Price to Cash Flow 14.2
Price to Free Cash Flow 16.1
Growth Rates
Sales Growth Rate 9.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 12.2%
Cap. Spend. - 3 Yr. Gr. Rate 7.1%
Financial Strength
Quick Ratio 2
Current Ratio 0.2
LT Debt to Equity 87.1%
Total Debt to Equity 90.1%
Interest Coverage 2
Management Effectiveness
Return On Assets 7.1%
Ret/ On Assets - 3 Yr. Avg. 4.8%
Return On Total Capital 4.6%
Ret/ On T. Cap. - 3 Yr. Avg. 2.6%
Return On Equity 9.5%
Return On Equity - 3 Yr. Avg. 4.8%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 63.9%
Gross Margin - 3 Yr. Avg. 58.5%
EBITDA Margin 26.6%
EBITDA Margin - 3 Yr. Avg. 21.2%
Operating Margin 14.9%
Oper. Margin - 3 Yr. Avg. 9.3%
Pre-Tax Margin 7.5%
Pre-Tax Margin - 3 Yr. Avg. 4.6%
Net Profit Margin 9.7%
Net Profit Margin - 3 Yr. Avg. 4.8%
Effective Tax Rate -29.4%
Eff/ Tax Rate - 3 Yr. Avg. -16.3%
Payout Ratio 0%

MSCC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MSCC stock intrinsic value calculation we used $1812 million for the last fiscal year's total revenue generated by Microsemi. The default revenue input number comes from 2017 income statement of Microsemi. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MSCC stock valuation model: a) initial revenue growth rate of 5.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.8%, whose default value for MSCC is calculated based on our internal credit rating of Microsemi, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Microsemi.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MSCC stock the variable cost ratio is equal to 96.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MSCC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.3% for Microsemi.

Corporate tax rate of 27% is the nominal tax rate for Microsemi. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MSCC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MSCC are equal to 56.8%.

Life of production assets of 14.6 years is the average useful life of capital assets used in Microsemi operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MSCC is equal to 14.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1994 million for Microsemi - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 118.683 million for Microsemi is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Microsemi at the current share price and the inputted number of shares is $6.9 billion.

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COMPANY NEWS

▶ Stocks Climb As This Dow Component Tops A Buy Point   [Jan-12-18 03:04PM  Investor's Business Daily]
▶ When Should You Buy Microsemi Corporation (NASDAQ:MSCC)?   [Dec-30-17 04:55PM  Simply Wall St.]
▶ ETFs with exposure to Microsemi Corp. : December 25, 2017   [Dec-25-17 12:10PM  Capital Cube]
▶ ETFs with exposure to Microsemi Corp. : December 12, 2017   [Dec-12-17 01:42PM  Capital Cube]
▶ Chips That Stay Crisp: Nvidia, Monolithic Look Like Buys   [Dec-08-17 03:27PM  Barrons.com]
▶ ETFs with exposure to Microsemi Corp. : November 27, 2017   [Nov-27-17 02:53PM  Capital Cube]
▶ ETFs with exposure to Microsemi Corp. : November 17, 2017   [Nov-17-17 12:29PM  Capital Cube]
▶ Nvidia Muscles Higher On Third-Quarter Beat, Price-Target Hikes   [Nov-10-17 04:27PM  Investor's Business Daily]
▶ Microsemi tops Street 4Q forecasts   [Nov-09-17 04:23PM  Associated Press]
▶ Intel and Qualcomm Could Rise 20%: Technical Analysis   [Oct-16-17 06:00AM  Investopedia]
▶ Are semiconductors the next M&A target?   [Aug-15-17 01:19PM  CNBC Videos]
▶ ETFs with exposure to Microsemi Corp. : August 14, 2017   [Aug-14-17 04:55PM  Capital Cube]
▶ Cypress Semiconductor, Intel, Microsemi Touted Post-Earnings   [Jul-28-17 04:26PM  Investor's Business Daily]
▶ Microsemi meets 3Q profit forecasts   [Jul-27-17 11:56PM  Associated Press]
▶ Chip Giant Intel Beats Second-Quarter Sales, Earnings Targets   [06:44PM  Investor's Business Daily]
▶ ETFs with exposure to Microsemi Corp. : July 24, 2017   [Jul-24-17 05:25PM  Capital Cube]
▶ 5 Things You Didn't Know About Skyworks Solutions, Inc.   [Jul-18-17 07:03AM  Motley Fool]
▶ ETFs with exposure to Microsemi Corp. : July 14, 2017   [Jul-14-17 03:42PM  Capital Cube]
Financial statements of MSCC
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