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Equities researchers at Canaccord Genuity reduced their price objective on shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from $9.00 to $7.00 in a research report issued on Tuesday, AnalystRatings.NET reports. Canaccord Genuity’s target price points to a potential downside of 5.53% from the company’s current price.

A number of other analysts have also recently weighed in on PSMI. Analysts at Deutsche Bank downgraded shares of Peregrine Semiconductor Corp. from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $8.00 price target on the stock, down previously from $10.00. They noted that the move was a valuation call. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $10.13.

Peregrine Semiconductor Corp. (NASDAQ:PSMI) remained flat at $7.41 during trading on Tuesday. The stock had a trading volume of 85,851 shares. Peregrine Semiconductor Corp. has a one year low of $7.22 and a one year high of $15.07. The stock’s 50-day moving average is $8.3 and its 200-day moving average is $9.46. The company has a market cap of $242.2 million and a price-to-earnings ratio of 49.40.

Peregrine Semiconductor Corp. (NASDAQ:PSMI) last announced its earnings results on Monday, October 28th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. Analysts expect that Peregrine Semiconductor Corp. will post $0.18 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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