Roth Capital Reiterates Buy On Pericom Semiconductor, $14 PT


In a research report issued today, Roth Capital analyst Krishna Shankar reiterated a Buy rating on Pericom Semiconductor (NASDAQ:PSEM) with a price target of $14.00.

Shankar wrote, “PSEM reported good 1Q15 revenues/proforma EPS of $33.3 million/$0.16 versus our $33.7 million/$0.12 estimates with good gross margins of 44.2% versus our 42.5% estimate driven by improving product mix and guided to 1% sequential revenue growth. New higher-margin products include proprietary analog, timing, and connectivity platforms for servers/storage, cloud computing, telecom/networking, mobility, PC, consumer electronics and embedded applications. We believe that PSEM is attractively valued trading at 17x NTM earnings, 1x book-value, 0.7x EV/TTM revs, and 8x TTM EBITDA.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 9.8% and a 54.9% success rate. Shankar is ranked #518 out of 3350 analysts.

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