Insider Selling: Pericom Semiconductor Corp. Insider Sells 2,992 Shares of Stock (PSEM)
Pericom Semiconductor Corp. (NASDAQ:PSEM) Insider Kenneth Cheung sold 2,992 shares of Pericom Semiconductor Corp. stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.62, for a total transaction of $28,783.04. Following the completion of the transaction, the insider now directly owns 13,076 shares in the company, valued at approximately $125,791. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Pericom Semiconductor Corp. (NASDAQ:PSEM) traded down 2.47% on Wednesday, hitting $9.47. 71,919 shares of the company’s stock traded hands. Pericom Semiconductor Corp. has a one year low of $6.16 and a one year high of $9.85. The stock’s 50-day moving average is $9.04 and its 200-day moving average is $8.5. The company has a market cap of $208.3 million and a price-to-earnings ratio of 53.94.
Pericom Semiconductor Corp. (NASDAQ:PSEM) last announced its earnings results on Wednesday, August 6th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.02. The company had revenue of $32.70 million for the quarter, compared to the consensus estimate of $32.50 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Analysts expect that Pericom Semiconductor Corp. will post $0.48 EPS for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Pericom Semiconductor Corp. from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 23rd. They now have a $10.30 price target on the stock.
Pericom Semiconductor provides integrated connectivity solutions. It also provides advanced timing, and signal integrity solutions for the computing, communications, and consumer market segments.
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