Needham analyst N. Quinn Bolton raised his price target for Microsemi (MSCC) to $63 from $52 as he believes the combination of a "strong" fundamental outlook and increasing cash flow warrant a higher valuation multiple. The analyst believes Defense spending will improve with the new administration, and increasing investments from hyperscale cloud operators and the ramp of Intel's (INTC) Purley server platform will drive growth in the company's storage business. Further, he sees continued strong demand for its optical solutions. Bolton reiterates a Buy rating on Microsemi's shares.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSSnap (SNAP) up... To see the rest of the story go to thefly.com. See Story Here

Pre-earnings options volume in Intel is normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 5.6%, or $1.96, after results are released. Median move over the past eight quarters is 7.8%.

Intel (INTC) is scheduled to report results of its fiscal first quarter after the market close on April 25, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here