Which game are you trying?
Not all PPSSPP games will run fulll speed. (even in my shield tablet some are slow)
Activate multithread, try with unbuffered video (it helps in some games) and use lower effects if you can (bezier curves, etc..), basically all the speed hacks. there is no perfect combination for all gamesm butost run fine with default settings, Try some to see if it improves and save your config for that game. Most games run fine with default settings but some games are in even slow in a Shield Tablet, but no idea which game you are trying.
Also, as sirp0p0 suggested, using ondemand or performance governor with a CPU app helps with some games....
Also, I suppose you are bult in controls and not the gPD mapper with virtual controls enable, because that may slow down the emu a little bit too.