On June 17, Vitesse Semiconductor (NASDAQ:VTSS) announced the closing of an underwritten public offering for 8,582,076 shares of its common stock, which includes the exercise in full by the underwriters of their over-allotment option, at a per share price to the public of $3.35. The Company will receive net proceeds of approximately $26.7 million after deducting the underwriting discount and estimated offering expenses. Vitesse Semiconductor (NASDAQ:VTSS) net profit margin is -22.10% and weekly performance is -6.59%. On last trading day company shares ended up $3.26. Analysts mean target price for the company is $4.58. Vitesse Semiconductor (NASDAQ:VTSS)distance from 50-day simple moving average (SMA50) is -9.41%.
Zacks upgraded shares of Pericom Semiconductor Corp. (NASDAQ:PSEM) from a neutral rating to an outperform rating in a research note released on Tuesday morning. They currently have $9.80 target price on the stock. Pericom Semiconductor (NASDAQ:PSEM) shares advanced 6.06% in last trading session and ended the day on $9.10. PSEM Gross Margin is 38.90% and its return on assets is -5.60%. Pericom Semiconductor (NASDAQ:PSEM) quarterly performance is 17.12%.
Oplink Communications, Inc (NASDAQ:OPLK) Communications upgraded to Buy from Neutral at Sidoti. Sidoti upgraded Oplink due to valuation. Price target is $18. Oplink Communications, Inc (NASDAQ:OPLK) shares moved up 1.25% in last trading session and was closed at $17.00, while trading in range of $15.53 – $17.01. Oplink Communications, Inc (NASDAQ:OPLK) year to date (YTD) performance is -8.60%.
Sunedison Inc (NYSE:SUNE) announced that Marshall Turner, a member of its Board of Directors and Chair of its Audit Committee, will be retiring from the Board effective July 31, 2014. Mr. Turner has served on the SunEdison Board for 7 years. The company also announced that director Georganne Proctor will be appointed as Chair of the Audit Committee. Sunedison Inc (NYSE:SUNE) ended the last trading day at $22.87. Company weekly volatility is calculated as 4.52% and price to cash ratio as 13.22. Sunedison Inc (NYSE:SUNE) showed a positive weekly performance of 3.72%.
On June 18, The merger agreement between leading semiconductor manufacturer TriQuint Semiconductor, Inc. and rival RF Micro Devices, Inc. (NASDAQ:RFMD) has successfully passed the first litmus test with the completion of the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”). RF Micro Devices, Inc. (NASDAQ:RFMD) shares moved down -1.32% in last trading session and was closed at $9.36, while trading in range of $9.35 – $9.59. RF Micro Devices, Inc. (NASDAQ:RFMD)year to date (YTD) performance is 81.40%