UPDATE: Deutsche Bank Initiates Buy, $20 PT on Peregrine Semiconductor on Product Line Position
Deutsche Bank initiated its Buy rating on Peregrine Semiconductor (NASDAQ: PSMI) with a Buy rating and a price target of $20 a share.
Deutsche Bank said, "The front-end of mobile phones are rapidly becoming a key bottleneck. The advent of 4G LTE networks means growing complexity in the front-end. Peregrine has spent years developing its SoS technology with provide leading performance. The growth of the space, combined with Peregrine's emerging product line position them well to gain share in coming years and merit our Buy rating."
Peregrine Semiconductor closed at $15.90 on Friday.
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