8-K

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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of Earliest Event Reported): February 23, 2005

                        PERICOM SEMICONDUCTOR CORPORATION
             (Exact Name of Registrant as Specified in its Charter)

                                   California
                 (State or Other Jurisdiction of Incorporation)

                 0-27026                               77-0254621
        (Commission File Number)          (I.R.S. Employer Identification No.)

     3345 North First Street, San Jose, California          95134
        (Address of Principal Executive Offices)          (Zip Code)

                                 (408) 435-0800
              (Registrant's Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communications pursuant to Rule 425 under the Securities
     Act (17CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
     Act (17CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17CFR 240.13e-4(c))

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ITEM 2.05   COSTS ASSOCIATED WITH EXIT OR DISPOSAL ACTIVITIES.

        On February 23, 2005, Pericom Semiconductor Corporation issued a press
release announcing restructuring activity undertaken on that day. A copy of the
press release is attached as Exhibit 99.1 and is incorporated into this item by
reference.

ITEM 9.01   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c)    EXHIBITS.

The exhibit listed below is being furnished with this Form 8-K.

Exhibit
Number     Description
- -------    ---------------------------------------------------------
99.1       Press Release issued by Pericom Semiconductor Corporation
           dated February 23, 2005.



                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       PERICOM SEMICONDUCTOR CORPORATION

                                       By:  /s/ Michael D. Craighead
                                            ------------------------------------
                                            Michael D. Craighead
                                            Chief Financial Officer

Date:  February 23, 2005

EX-99.1

                                                                    Exhibit 99.1

               PERICOM SEMICONDUCTOR CONTINUES BUSINESS TRANSITION

    SAN JOSE, Calif., Feb. 23 /PRNewswire-FirstCall/ -- Pericom Semiconductor
Corporation (Nasdaq: PSEM) today announced additional cost reductions as the
Company concludes its program to outsource more manufacturing to Asia based
subcontractors which will increase responsiveness and reduce cost. Additionally,
seventeen months after the acquisition of SaRonix the integration is essentially
complete and efficiencies have been achieved allowing for further expense
reductions. As a result of this action, the company expects to reduce costs in
excess of $1.2 million annually while reducing its workforce by about 25
employees. The company will take a restructuring charge in the March 2005
quarter of up to $250,000 to cover severance and other costs related to the
transition.

    Alex Hui, President and CEO of Pericom said, "This marks the conclusion of
our program to migrate volume manufacturing activities offshore. We have also
realized additional cost savings associated with the completed integration of
SaRonix after consolidating to a single Enterprise Information Technology
system. We have also re-aligned our sales and marketing organizations to drive
and support planned shifts in our product mix and expansion of our served
markets. We will selectively add resources as necessary to staff the
organization to execute our strategy. We view these activities as necessary and
positive refinements to our on-going program addressing how we best serve our
global customer base."

    Pericom Semiconductor Corporation offers customers worldwide the industry's
most complete silicon and quartz based solutions for the Computing,
Communications, and Industrial market segments. Our broad portfolio of
leading-edge analog, digital, and mixed-signal integrated circuits and SaRonix
frequency control products are essential in the timing, transferring, routing,
and translating of high-speed signals as required by today's ever-increasing
speed and bandwidth demanding applications. Company headquarters are in San
Jose, California, with design centers and sales offices located globally.
http://www.pericom.com .

    This press release contains forward-looking statements as defined under The
Securities Litigation Reform Act of 1995. Forward-looking statements in this
release include statements regarding that outsourcing manufacturing to Asia will
increase responsiveness and reduce costs, that we will have expected savings in
excess of $1.2 million annually from the reduction in force, that restructuring
costs associated with the reduction in force will be up to $250,000, that our
capabilities will not be harmed by this reduction, and that the Company will be
successful in it's efforts to realign its organization to successfully execute
it's strategy. The company's actual results could differ materially from what is
set forth in such forward-looking statements due to a variety of risk factors,
including the possibility that the anticipated cost reduction from the workforce
reduction will be less than anticipated as a



result of unexpected costs from the reduction, the possibility of economic or
financial difficulties experienced by our suppliers, or technological and market
changes. Although Pericom believes that its expectations are based on reasonable
assumptions, it can give no assurance that anticipated results will occur. All
forward-looking statements included in this document are made as of the date
hereof, based on information available to the company as of the date hereof, and
Pericom assumes no obligation to update any forward-looking statements. Parties
receiving this release are encouraged to review our annual report on Form 10-K/A
for the year ended June 30, 2004 and, in particular, the risk factors sections
of this filing.

SOURCE  Pericom Semiconductor Corporation
    -0-                             02/23/2005
    /CONTACT:  Mike Craighead, VP/Chief Financial Officer of Pericom
Semiconductor Corporation, +1-408-435-0800, or fax, +1-408-435-1100/
    /Web site:  http://www.pericom.com /
_