Shares of Irvine-based Microsemi Corp., a maker of chips for military, aerospace and industrial uses, rose Monday after the company lifted its sales outlook for the current quarter.
Investors sent shares up 2% in midday New York trading on a recent market value of $1.4 billion.
The raised outlook comes on the heels of Microsemi’s $100 million acquisition of Phoenix’s White Electronic Designs Corp., which closed Monday.
Including the White Electronic buy, Microsemi said it expects June quarter sales of about $129 million to $131 million, ahead of Wall Street’s revenue estimate of $123 million.
The company expects adjusted profits of $24 million to $25 million, in line with the $24 million in profits Wall Street is looking for.
White Electronic sees yearly sales of around $65 million.
The company designs, assembles and tests chips used primarily by the military. It specializes in an anti-tamper technology that’s built into GPS-guided weapons deployed in Afghanistan.
Microsemi’s shares are up 13% in the past year.
