Benchmark Highlights Strong Pipeline at Peraso (PRSO)

Peraso Inc. (NASDAQ:PRSO) is one of the 6 Best Semiconductor Penny Stocks to Buy Now. On December 5, Benchmark reiterated a Speculative Buy rating on Peraso Inc. (NASDAQ:PRSO) with a $3 price target. The firm pointed to stronger adoption trends across multiple markets as a key factor for its positive outlook.

Benchmark highlighted that Peraso Inc.’s (NASDAQ:PRSO) pre-production products rose to a record 12, up from 7 in the previous quarter. This increase shows a growing commercial pipeline. The firm also noted that the company has secured an order from a major global Fixed Wireless Access (FWA) equipment provider that serves key service operators.

Benchmark Highlights Strong Pipeline at Peraso (PRSO)

The research firm also pointed out that growing interest in 6 GHz technology is creating new opportunities for Peraso Inc. (NASDAQ:PRSO). Additionally, recently completed field trials for next-generation tactical communications have led to increased engagement from defense customers. The company is also seeing activity in related markets Edge AI, last-mile delivery, drones, and autonomous vehicles.

In other news, on December 23, Peraso Inc. (NASDAQ:PRSO) announced that it is appointing Cees Links, a veteran wireless entrepreneur and technology executive, to its board of directors.

Peraso Inc. (NASDAQ:PRSO) specializes in high-performance 60 GHz unlicensed and 5G mmWave wireless technology. The company provides chipsets, modules, software, and IP to support various applications such as fixed wireless access, military, immersive video, and factory automation.

While we acknowledge the potential of PRSO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PRSO and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Stocks that Will Bounce Back According to Wall Street Analysts and 10 Best US Penny Stocks to Buy.

Disclosure: None. This article is originally published at Insider Monkey.