After spending much of the past few years at a mediocre three-star rank, LSI Corp. (NYSE: LSI) has impressed enough top-performing members of our 160,000-strong Motley Fool CAPS community to climb all the way up to four stars recently. A total of 425 members have given their opinion on the semiconductor maker, with many of them offering analysis and commentary explaining the recent optimism.

With corporate spending showing signs of a rebound, and LSI offering products in multiple areas of the storage and networking vertical market, many CAPS members note that it can win on multiple levels during this wave of increasing demand. The company recently reported a 32% jump in first-quarter revenue thanks to increasing spending on servers and memory equipment, and it expects the good times to continue in the second half of the year. LSI’s bullish tone echoes that of larger technology companies such as Intel (Nasdaq: INTC), which recently reported strong earnings and has increased capacity to meet growing demand it has been seeing from businesses.   

LSI has been securing more design wins and expects to benefit from the strength of its existing customer base, which includes big names Dell (Nasdaq: DELL), IBM (NYSE: IBM), and NetApp (Nasdaq: NTAP). Dell has noted improving demand for server and storage parts from small and medium-size businesses, and IBM recently raised its full-year outlook, while NetApp has reported solid fiscal-third-quarter revenue growth and offered a bullish fourth-quarter outlook. And with Oracle (Nasdaq: ORCL) ending its partnership with Hitachi Data Systems, LSI is optimistic about its competitive position with the database giant.                                       

LSI is also seeing a tremendous opportunity in wireless as more and more consumers and businesses adopt smartphones that push around richer content. With major networking equipment makers such as LM Ericsson forecasting mobile data traffic to double annually for the next five years, LSI is licking its chops as it supplies the top wireless infrastructure manufacturers with products aimed at both the delivery and storage of information. Having a presence in multiple growth sectors at various levels has many CAPS members bullish on LSI’s future.

Do you think LSI deserves its raised status? Add your thoughts in the comments box below on this page, or head over to CAPS to rate the company and check out all the information and opinions the community offers, absolutely free.

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Fool contributor Dave Mock recently upgraded his bird calling repertoire to include the white-throated sparrow and the babbler. He owns shares of Intel, which is also an Inside Value pick. The Fool has created a covered strangle position on Intel. The Fool owns shares of and has written puts on Oracle. The Fool's disclosure policy had a brief career in professional sports ended by allegations of performance-enhancing drug use.