Microsemi Gets Nod From Fund Manager
Irvine chipmaker Microsemi Corp. got some positive comments last week from officials at Minneapolis-based Sit Investment Associates Inc., manager of Sit Mutual Funds.
Microsemi, which counts $270 million in annual sales, could increase sales 30% in the long term, Sit research associate Doug Mikkonen told CBS Market-Watch.com Inc. Sit noted that Microsemi generates about 35% of sales from military and aerospace markets.
Overall, Sit officials said technology company earnings and sales should improve in 2002, but the largest successes might be measured by company size, rather than by sector. Companies with some of the best growth potential next year are small- and mid-cap tech stocks, they said.
