), an original equipment manufacturer (OEM) of a broad range of
high-reliability and analog/mixed signal integrated circuits,
signed a global distribution agreement with Future Electronics, a
distribution and marketing leader of electronics.
Founded in 1968, Future Electronics is a privately-held
company and the fourth largest electronics distributor in the
world. Headquartered in Quebec, it specializes in the
distribution of electronic and electro-mechanical components. The
company also has field applications engineers to assist circuit
design engineers with product selection and engineering
According to the agreement, Future Electronics will promote,
sell and support the full range of Microsemi's semiconductor
systems solutions, excluding certain government products and
services. Microsemi's product portfolio consists of
energy-efficient power and signal management, logic and discrete
solutions, serving a broad base of end-user markets, including
defense, aerospace, communications, enterprise and commercial and
The agreement with Future Electronics should open up new
markets for Microsemi's product portfolio and also boost its
customer base. Both the companies are trying to provide
high-performance analog and energy-efficient solutions for
different electronic applications used in various end markets
thus meeting end users' demand effectively.
We are positive about Microsemi's endeavor to deliver
innovative products and technologies to its customers. However,
the company is experiencing weakness across its major markets.
The company is trying to increase the electronic content per
device and customer, which might eventually help its market
Microsemi's revenues in the second quarter of fiscal 2013 were
$235.3 million, down 5.0% sequentially and 5.6% year over year.
However, adjusted earnings per share came in at 32 cents, beating
the Zacks Consensus Estimate by 2 cents or 6.7%.
Microsemi has a Zacks Rank #3 (Hold). Other stocks that have
been performing well and are worth a look include
), all carrying a Zacks Rank #2 (Buy).
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