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Microsemi Corporation - Analyst/Investor Day

Stocks in this article: MSCC

You're going to see we'll take this technology and just kind of enforce a total solution. The cross-selling within our present customers is quite amazing in volume and in dollars. But more importantly, doors that historically have not been opened for Microsemi, those doors are now open. So you'll start seeing additional releases of product roadmap, product technologies with higher margins at those customers that historically we did not penetrate.

And then one what everybody wants is focus on profit. Microsemi, if you haven't noticed, right, we generate a lot of cash. At the end of the day, right, name of the game, Irish rule number one is cash. Cash is king. So you watch our operating income and you watch our free cash flow, I think you'd be quite impressed.

One thing I want to get across to you is probably the most important question when we go on the road is, Jim, how you feel about the valuation? And I'm here to tell you, I am not happy with Microsemi's valuation today. And I'm uncomfortable with that valuation. And even if it was double, I'd probably tell you the same message, right? I'm not happy, I'm not comfortable with it. But by the end of today, I think you'll see a new shout of, Okay, let's get this. This is how we get the valuation up. It's by sweat and tears, is how it works.

The other question you get is, when you're on the street, is what keeps you up at night. And I'm here to tell you, every CEO chuckles, and they go, Oh, coffee. And so, okay, so what is the real question? And the real question that anyone should ask a CEO when they get in your circle, whether it be in a one-or-one or out on a street corner, is what is it about your company that The Street doesn't get? And that's probably the most important question.

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