RF Micro Devices PT Lowered to $6.50 (RFMD)
Research analysts at Canaccord Genuity decreased their price objective on shares of RF Micro Devices (NASDAQ:RFMD) from $7.25 to $6.50 in a report released on Tuesday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target would suggest a potential upside of 34.85% from the company’s current price.
RF Micro Devices (NASDAQ:RFMD) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $310.90 million for the quarter, compared to the consensus estimate of $308.23 million. During the same quarter last year, the company posted $0.03 earnings per share. RF Micro Devices’s revenue was up 48.2% compared to the same quarter last year.
In other RF Micro Devices news, CEO Robert Bruggeworth sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.08, for a total transaction of $254,000.00. Following the sale, the chief executive officer now directly owns 1,241,520 shares in the company, valued at approximately $6,306,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
RFMD has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus downgraded shares of RF Micro Devices from a “buy” rating to a “hold” rating in a research note to investors on Monday, December 30th. Separately, analysts at Zacks downgraded shares of RF Micro Devices from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, October 31st. They now have a $6.50 price target on the stock. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $6.77.
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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