Pericom Semiconductor Corp. Upgraded to Outperform at Zacks (PSEM)
Pericom Semiconductor Corp. (NASDAQ:PSEM) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, American Banking and Market News reports. The firm currently has a $8.50 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 9.11% from the stock’s previous close.
Pericom Semiconductor Corp. (NASDAQ:PSEM) traded up 2.95% on Monday, hitting $8.02. The stock had a trading volume of 26,679 shares. Pericom Semiconductor Corp. has a 52 week low of $6.10 and a 52 week high of $8.60. The stock’s 50-day moving average is $7.61 and its 200-day moving average is $7.26. The company’s market cap is $182.8 million.
Pericom Semiconductor Corp. (NASDAQ:PSEM) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.01. The company had revenue of $32.60 million for the quarter, compared to the consensus estimate of $32.70 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down 11.2% on a year-over-year basis. On average, analysts predict that Pericom Semiconductor Corp. will post $0.30 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Thomson Reuters/Verus upgraded shares of Pericom Semiconductor Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, October 7th. Analysts at Raymond James raised their price target on shares of Pericom Semiconductor Corp. from $8.00 to $9.00 in a research note to investors on Wednesday, August 7th.
Pericom Semiconductor provides integrated connectivity solutions. It also provides advanced timing, and signal integrity solutions for the computing, communications, and consumer market segments.
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