Insider Selling: Travis Karr Unloads 59,063 Shares of PMC-Sierra Stock (PMCS)
PMC-Sierra (NASDAQ:PMCS) VP Travis Karr sold 59,063 shares of PMC-Sierra stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $7.50, for a total value of $442,972.50. Following the completion of the transaction, the vice president now directly owns 172,051 shares of the company’s stock, valued at approximately $1,290,383. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of PMC-Sierra from $7.00 to $7.75 in a research note on Friday, August 1st. They now have a “neutral” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of PMC-Sierra in a research note on Friday, August 1st. They now have a $7.00 price target on the stock.
Shares of PMC-Sierra (NASDAQ:PMCS) traded up 0.80% during mid-day trading on Thursday, hitting $7.54. The stock had a trading volume of 1,298,424 shares. PMC-Sierra has a 52 week low of $5.60 and a 52 week high of $7.85. The stock’s 50-day moving average is $7.10 and its 200-day moving average is $7.28. The company’s market cap is $1.482 billion.
PMC-Sierra (NASDAQ:PMCS) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.01. The company had revenue of $126.80 million for the quarter, compared to the consensus estimate of $125.06 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that PMC-Sierra will post $0.38 earnings per share 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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