UPDATE 1-Microsemi Q3 profit meets market view

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July 24 (Reuters) - Chipmaker Microsemi Corp (MSCC.O: Quote, Profile, Research, Stock Buzz) posted third-quarter results in line with analysts' estimates and forecast a sequential rise in fourth-quarter results. Microsemi said it expects to earn 35 cents to 37 cents per share, excluding items, for the fourth quarter and a 3 percent to 5 percent sequential rise in revenue.

For the fourth-quarter, analysts were expecting earnings of 35 cents a share, excluding items, on revenue of $133.2 million, according to Reuters Estimates.

For the third quarter, the company posted a net profit of $14 million, or 17 cents a share, compared with $8.7 million, or 11 cents a share, a year ago.

Excluding special items, it earned 34 cents a share, while revenue rose 14 percent to $129.3 million.

Analysts on average had expected the company to earn 34 cents a share, excluding special items, on revenue of $128.9 million.

Microsemi shares closed down 14 cents at $24.22 Thursday on Nasdaq. (Reporting by Santosh Nadgir in Bangalore; Editing by Gopakumar Warrier)