Equities research analysts at RBC Capital decreased their price target on shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from $16.00 to $10.00 in a research note issued to investors on Tuesday, American Banking and Market News reports. RBC Capital’s target price would suggest a potential upside of 7.76% from the stock’s previous close.
Shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) remained flat at $9.28 during during mid-day trading trading on Tuesday. 271,220 shares of the company’s stock traded hands. Peregrine Semiconductor Corp. has a one year low of $8.25 and a one year high of $19.23. The stock has a 50-day moving average of $11.0 and a 200-day moving average of $10.45. The company has a market cap of $299.8 million and a price-to-earnings ratio of 73.65.
Peregrine Semiconductor Corp. (NASDAQ:PSMI) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.07. The company had revenue of $52.37 million for the quarter, compared to the consensus estimate of $49.18 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts expect that Peregrine Semiconductor Corp. will post $0.30 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PSMI. Analysts at Jefferies Group downgraded shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $10.00 price target on the stock, down previously from $13.00. Separately, analysts at Canaccord Genuity downgraded shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) from a “buy” rating to a “hold” rating in a research note to investors on Monday. They now have a $10.00 price target on the stock, down previously from $13.00. Finally, analysts at JMP Securities initiated coverage on shares of Peregrine Semiconductor Corp. (NASDAQ:PSMI) in a research note to investors on Tuesday, August 27th. They set an “outperform” rating and a $15.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.14.
In other Peregrine Semiconductor Corp. news, major shareholder Morgenthaler Partners Vi sold 160,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $9.73, for a total transaction of $1,556,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
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.