PMC-Sierra VP Daryn Lau Unloads 9,479 Shares (PMCS)
PMC-Sierra (NASDAQ:PMCS) VP Daryn Lau sold 9,479 shares of PMC-Sierra stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $6.65, for a total transaction of $63,035.35. Following the completion of the transaction, the vice president now directly owns 129,904 shares in the company, valued at approximately $863,862. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of PMC-Sierra in a research note to investors on Monday, January 13th. They now have a $6.75 price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of PMC-Sierra from $6.50 to $6.00 in a research note to investors on Tuesday, October 29th. They now have a “neutral” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of PMC-Sierra from $6.50 to $6.30 in a research note to investors on Tuesday, October 29th. They now have a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. PMC-Sierra presently has a consensus rating of “Hold” and a consensus price target of $6.51.
Shares of PMC-Sierra (NASDAQ:PMCS) traded down 3.05% on Friday, hitting $6.35. 1,728,395 shares of the company’s stock traded hands. PMC-Sierra has a 52-week low of $5.53 and a 52-week high of $7.14. The stock has a 50-day moving average of $6.31 and a 200-day moving average of $6.37. The company’s market cap is $1.298 billion.
PMC-Sierra (NASDAQ:PMCS) last announced its earnings results on Monday, October 28th. The company reported $0.10 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts expect that PMC-Sierra will post $0.33 EPS for the current fiscal year.
PMC-Sierra, Inc is a semiconductor innovator transforming networks that connect, move and store digital content.
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