Why Peregrine Semiconductor Shares Skyrocketed
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Peregrine Semiconductor have skyrocketed today by as much as 14% after the company reported earnings.
So what: Revenue in the second quarter came in at $52.4 million, which translated into non-GAAP earnings per share of $0.03. Both results easily bested consensus estimates, which were calling for $49.2 million in revenue and an adjusted loss of $0.02 per share.
Now what: CEO Jim Cable said the company's newest RF products that support carrier aggregation on LTE-Advanced networks are performing well, and Peregrine recently inked a multiyear sourcing agreement with Murata. The company is positioned to expand beyond the handset market and address the wireless infrastructure market, among others. Third-quarter sales are expected in the range of $58 million to $62 million, with gross margin of 42% to 44%.
Interested in more info on Peregrine Semiconductor? Add it to your watchlist by clicking here.
It's incredible to think just how much of our digital and technological lives are almost entirely shaped by just a handful of companies. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks?" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged by the five kings of tech. Click here to keep reading.
The article Why Peregrine Semiconductor Shares Skyrocketed originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.