RF Micro Devices Upgraded to “Strong-Buy” by Raymond James (RFMD)
RF Micro Devices (NASDAQ:RFMD) was upgraded by research analysts at Raymond James from a “market perform” rating to a “strong-buy” rating in a report released on Wednesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of RF Micro Devices (NASDAQ:RFMD) from a “buy” rating to a “hold” rating in a research note to investors on Monday, July 29th. Separately, analysts at Barclays Capital downgraded shares of RF Micro Devices (NASDAQ:RFMD) from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday, July 29th. They now have a $5.00 price target on the stock, down previously from $7.00. Finally, analysts at Craig Hallum upgraded shares of RF Micro Devices (NASDAQ:RFMD) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, July 24th.
Four analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $6.83.
RF Micro Devices (NASDAQ:RFMD) traded up 0.91% during mid-day trading on Wednesday, hitting $5.53. 1,250,451 shares of the company’s stock traded hands. RF Micro Devices has a 52 week low of $3.50 and a 52 week high of $5.75. The stock’s 50-day moving average is $5.10 and its 200-day moving average is $5.18. The company’s market cap is $1.556 billion.
RF Micro Devices (NASDAQ:RFMD) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.02. The company had revenue of $293.00 million for the quarter, compared to the consensus estimate of $287.93 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 44.5% on a year-over-year basis. Analysts expect that RF Micro Devices will post $0.43 EPS for the current fiscal year.
In other RF Micro Devices news, VP Steven E. Creviston unloaded 16,670 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.25, for a total value of $87,517.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
RF Micro Devices, Inc (NASDAQ:RFMD) is engaged in the design and manufacture of radio frequency components and compound semiconductor technologies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.