Peraso's mmWave Tech Deal Sparks 113% Stock Surge
Peraso’s 60 GHz mmWave technology was chosen for an Israeli military drone identification system by InTACT, potentially opening global defense contract opportunities. Shares climbed over 100% above the 20-day SMA, trading near a 52-week high after surging 115% year-to-date.
1. Drone Identification System Deal
Peraso’s 60 GHz mmWave technology was selected by InTACT for integration into an Israeli military drone identification system designed to function in contested electronic warfare environments, marking the company’s first major defense contract.
2. Stock Performance
Shares jumped 113% on the news, trading over 100% above their 20-day simple moving average and 65% above the 200-day SMA, pushing the stock near its 52-week high after a 115% year-to-date gain.
3. Technology and Applications
Peraso is a fabless semiconductor firm specializing in mmWave devices and antenna modules operating from 24 GHz to 300 GHz, offering non-recurring engineering services and IP licensing for wireless and defense markets.
4. Outlook and Opportunities
The Israeli contract could catalyze global defense deals and boost revenue ahead of the March 18 earnings report, where Peraso is expected to post a $0.12 per share loss on $3.13 million in revenue and carries a $3.38 average analyst price target.