Peregrine Semiconductor Corp Cut to “Sector Perform” at RBC Capital (PSMI)
Peregrine Semiconductor Corp (NASDAQ:PSMI) traded up 60.75% during mid-day trading on Friday, hitting $12.3615. The stock had a trading volume of 10,020,391 shares. Peregrine Semiconductor Corp has a 52 week low of $4.75 and a 52 week high of $11.76. The stock has a 50-day moving average of $6.94 and a 200-day moving average of $6.39. The company’s market cap is $413.2 million.
Peregrine Semiconductor Corp (NASDAQ:PSMI) last posted its quarterly earnings results on Monday, July 28th. The company reported ($0.12) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.11) by $0.01. The company had revenue of $47.10 million for the quarter, compared to the consensus estimate of $44.13 million. During the same quarter last year, the company posted $0.03 earnings per share. Peregrine Semiconductor Corp’s revenue was down 10.1% compared to the same quarter last year. On average, analysts predict that Peregrine Semiconductor Corp will post $-0.51 earnings per share for the current fiscal year.
A number of other firms have also recently commented on PSMI. Analysts at Pacific Crest reiterated a “sector perform” rating on shares of Peregrine Semiconductor Corp in a research note on Thursday, August 7th. Analysts at Canaccord Genuity raised their price target on shares of Peregrine Semiconductor Corp from $6.00 to $6.50 in a research note on Tuesday, July 29th. They now have a “hold” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price 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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