JPMorgan Chase & Co. Lowers Peregrine Semiconductor Corp. Price Target to $12.00 (PSMI)
Investment analysts at JPMorgan Chase & Co. lowered their price objective on shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from $13.50 to $12.00 in a note issued to investors on Tuesday, American Banking and Market News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 43.88% from the stock’s previous close.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) traded down 1.18% during mid-day trading on Tuesday, hitting $8.34. The stock had a trading volume of 411,707 shares. Peregrine Semiconductor Corp. has a 52-week low of $8.25 and a 52-week high of $19.23. The stock has a 50-day moving average of $11.07 and a 200-day moving average of $10.39. The company has a market cap of $269.4 million and a price-to-earnings ratio of 66.98.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.04. The company had revenue of $60.00 million for the quarter, compared to the consensus estimate of $60.61 million. During the same quarter last year, the company posted $0.17 earnings per share. Peregrine Semiconductor Corp.’s revenue was down .9% compared to the same quarter last year. On average, analysts predict that Peregrine Semiconductor Corp. will post $0.23 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JMP Securities cut their price target on shares of Peregrine Semiconductor Corp. to $11.00 in a research note to investors on Tuesday. They now have a “market outperform” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Peregrine Semiconductor Corp. from $10.00 to $9.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Peregrine Semiconductor Corp. from $14.00 to $10.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $10.63.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.