Peregrine Semiconductor Corp. PT Lowered to $11.00 (PSMI)
Needham & Company decreased their price objective on shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from $12.00 to $11.00 in a research note issued on Tuesday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. Needham & Company’s target price would suggest a potential upside of 31.89% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Peregrine Semiconductor Corp. from $13.50 to $12.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.63.
Shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) traded down 1.18% during mid-day trading on Tuesday, hitting $8.34. 411,707 shares of the company’s stock traded hands. Peregrine Semiconductor Corp. has a one year low of $8.25 and a one year high of $19.23. The stock’s 50-day moving average is $11.07 and its 200-day moving average is $10.39. The company has a market cap of $269.4 million and a P/E ratio of 66.98.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) last released its earnings data 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. Analysts expect that Peregrine Semiconductor Corp. will post $0.23 EPS for the current fiscal year.
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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