Piper Jaffray analyst Harsh Kumar raised his price target for Microsemi to $70 after Dealreporter said the company potentially engaged an investment bank to try to sell itself. Based on the different methodologies used, the analyst arrives at a potential valuation range of $70 to $85 for the company. The news flow around Microsemi as a potential candidate for M&A is not new news, Kumar tells investors in a research note. He believes a potential buyer would be more than likely a U.S. based entity. The analyst keeps an Overweight rating on the shares.