RF Micro Devices Stock Rating Upgraded by Zacks (RFMD)
RF Micro Devices (NASDAQ:RFMD) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, StockRatingsNetwork reports. The firm currently has a $6.20 price target on the stock. Zacks‘ target price points to a potential upside of 7.83% from the company’s current price.
Shares of RF Micro Devices (NASDAQ:RFMD) traded up 0.17% during mid-day trading on Wednesday, hitting $5.76. 1,879,552 shares of the company’s stock traded hands. RF Micro Devices has a one year low of $3.50 and a one year high of $5.90. The stock has a 50-day moving average of $5.26 and a 200-day moving average of $5.2. The company’s market cap is $1.620 billion.
RF Micro Devices (NASDAQ:RFMD) last issued its quarterly earnings data 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. On average, analysts predict that RF Micro Devices will post $0.43 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus upgraded shares of RF Micro Devices (NASDAQ:RFMD) from a “sell” rating to a “hold” rating in a research note to investors on Monday, September 16th. Separately, analysts at Raymond James upgraded shares of RF Micro Devices (NASDAQ:RFMD) from a “market perform” rating to a “strong-buy” rating in a research note to investors on Wednesday, September 11th. They now have a $7.00 price target on the stock. Finally, analysts at Raymond James downgraded shares of RF Micro Devices (NASDAQ:RFMD) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $6.71.
RF Micro Devices, Inc (NASDAQ:RFMD) is engaged in the design and manufacture of radio frequency components and compound semiconductor technologies.
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