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Peregrine Semiconductor Corp. (NASDAQ:PSMI) was upgraded by analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $7.00 target price on the stock. RBC Capital’s price objective points to a potential upside of 28.68% from the stock’s previous close. The analysts noted that the move was a valuation call.

Shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) opened at 5.44 on Thursday. Peregrine Semiconductor Corp. has a 52-week low of $4.75 and a 52-week high of $12.09. The stock’s 50-day moving average is $7.34 and its 200-day moving average is $9.03. The company has a market cap of $177.8 million and a price-to-earnings ratio of 36.27.

Peregrine Semiconductor Corp. (NASDAQ:PSMI) last announced its earnings results on Monday, February 3rd. The company reported ($0.16) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.13. The company had revenue of $43.30 million for the quarter, compared to the consensus estimate of $45.09 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was down 31.3% on a year-over-year basis. On average, analysts predict that Peregrine Semiconductor Corp. will post $-0.22 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on PSMI. Analysts at Deutsche Bank cut their price target on shares of Peregrine Semiconductor Corp. from $8.00 to $6.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Needham & Company downgraded shares of Peregrine Semiconductor Corp. from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $11.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Peregrine Semiconductor Corp. from an “overweight” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $7.00 price target on the stock, down previously from $9.50. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.81.

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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