Peregrine Semiconductor Corp. Upgraded to Market Perform at Charter Equity (PSMI)
Peregrine Semiconductor Corp. (NASDAQ:PSMI) was upgraded by equities researchers at Charter Equity from an “underperform” rating to a “market perform” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) traded up 0.33% during mid-day trading on Tuesday, hitting $9.00. 72,646 shares of the company’s stock traded hands. Peregrine Semiconductor Corp. has a 52 week low of $8.25 and a 52 week high of $18.96. The stock has a 50-day moving average of $10.69 and a 200-day moving average of $10.45. The company has a market cap of $290.7 million and a P/E ratio of 71.19.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) last released its earnings data on Monday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. The company had revenue of $52.37 million for the quarter, compared to the consensus estimate of $49.18 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts expect that Peregrine Semiconductor Corp. will post $0.27 EPS for the current fiscal year.
In other Peregrine Semiconductor Corp. news, major shareholder Morgenthaler Partners Vi sold 160,000 shares of Peregrine Semiconductor Corp. stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $9.73, for a total transaction of $1,556,800.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Several other analysts have also recently commented on the stock. Analysts at Westhouse Securities cut their price target on shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from $14.00 to $12.00 in a research note to investors on Tuesday, September 24th. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital cut their price target on shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from $16.00 to $10.00 in a research note to investors on Tuesday, September 24th. Finally, analysts at Jefferies Group downgraded shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 23rd. They now have a $10.00 price target on the stock, down previously from $13.00. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Peregrine Semiconductor Corp. currently has an average rating of “Buy” and a consensus target price of $12.14.
Peregrine Semiconductor Corporation (NASDAQ:PSMI) is engaged in the design, manufacturing and marketing radio frequency integrated circuits (RFICs) for the aerospace and defense, broadband, industrial, mobile wireless device, test and measurement equipment, and wireless infrastructure markets.
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