PMC-Sierra PT Lowered to $6.30 (PMCS)
Jefferies Group dropped their price target on shares of PMC-Sierra (NASDAQ:PMCS) from $6.50 to $6.30 in a research note issued on Tuesday, American Banking and Market News reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price would indicate a potential upside of 9.00% from the stock’s previous close.
PMC-Sierra (NASDAQ:PMCS) traded down 13.73% during mid-day trading on Tuesday, hitting $5.78. 6,044,731 shares of the company’s stock traded hands. PMC-Sierra has a 52-week low of $4.63 and a 52-week high of $7.14. The stock has a 50-day moving average of $6.45 and a 200-day moving average of $6.36. The company’s market cap is $1.186 billion.
PMC-Sierra (NASDAQ:PMCS) last announced its earnings results on Monday, October 28th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $128.86 million for the quarter, compared to the consensus estimate of $130.24 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that PMC-Sierra will post $0.36 earnings per share for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of PMC-Sierra in a research note to investors on Tuesday. They now have a $7.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $6.36.
PMC-Sierra, Inc is a semiconductor innovator transforming networks that connect, move and store digital content.
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