Peregrine Semiconductor Corp. Rating Lowered to Hold at Deutsche Bank (PSMI)
Peregrine Semiconductor Corp. (NASDAQ:PSMI) was downgraded by investment analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. They currently have a $8.00 target price on the stock, down from their previous target price of $10.00. Deutsche Bank’s target price indicates a potential upside of 7.96% from the stock’s previous close. The analysts noted that the move was a valuation call.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) traded down 8.74% on Monday, hitting $7.41. The stock had a trading volume of 476,360 shares. Peregrine Semiconductor Corp. has a 52-week low of $7.22 and a 52-week high of $15.07. The stock has a 50-day moving average of $8.3 and a 200-day moving average of $9.46. The company has a market cap of $242.2 million and a price-to-earnings ratio of 54.13.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) last issued its quarterly 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. On average, analysts predict that Peregrine Semiconductor Corp. will post $0.19 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Needham & Company cut their price target on shares of Peregrine Semiconductor Corp. from $12.00 to $11.00 in a research note to investors on Tuesday, October 29th. They now have a “buy” rating on the stock. Separately, 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, October 29th. They now have an “overweight” rating on the stock. Finally, 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, October 29th. They now have a “market outperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.38.
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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