Peregrine Semiconductor (NASDAQ:PSMI) is a small-cap semiconductor name that I recently profiled as a "Top Idea" less than a month ago. While it seemed that things weren't likely to get too much worse (and, to my credit, even after a particularly heavy downgrade, the stock is down just under 8% from the date of publication), a cut to "hold" by Deutsche Bank on the belief that Peregrine's position within Apple (NASDAQ:AAPL) is weakening managed to send shares back into the penalty box.
In order to understand the Peregrine story (and why the shares are down), it's important to note that the "big" loss that the company recently suffered was that of exclusivity...
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