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Shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) hit a new 52-week low during trading on Wednesday, American Banking News reports. The stock traded as low as $7.21 and last traded at $7.27, with a volume of 241,430 shares trading hands. The stock had previously closed at $7.46.

Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Peregrine Semiconductor Corp. from $9.00 to $7.00 in a research note to investors on Tuesday. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $10.13.

Peregrine Semiconductor Corp. has a 52-week low of $7.21 and a 52-week high of $15.03. The stock has a 50-day moving average of $8.2 and a 200-day moving average of $9.42. The company has a market cap of $239.3 million and a P/E ratio of 49.73.

Peregrine Semiconductor Corp. (NASDAQ:PSMI) last posted its quarterly 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 prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts predict that Peregrine Semiconductor Corp. will post $0.18 earnings per share 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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