Share on StockTwits

Research analysts at Canaccord Genuity upped their target price on shares of RF Micro Devices (NASDAQ:RFMD) from $7.25 to $9.25 in a report released on Thursday, Analyst Ratings Net reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 8.31% from the stock’s previous close.

Shares of RF Micro Devices (NASDAQ:RFMD) traded up 7.42% during mid-day trading on Thursday, hitting $8.54. The stock had a trading volume of 19,199,524 shares. RF Micro Devices has a one year low of $4.50 and a one year high of $8.59. The stock’s 50-day moving average is $7.76 and its 200-day moving average is $6.01. The company’s market cap is $2.413 billion.

RF Micro Devices (NASDAQ:RFMD) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.13 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.13. The company had revenue of $288.50 million for the quarter, compared to the consensus estimate of $320.06 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that RF Micro Devices will post $0.42 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets initiated coverage on shares of RF Micro Devices in a research note on Wednesday, April 16th. They set a “market perform” rating and a $8.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of RF Micro Devices from $5.00 to $7.00 in a research note on Tuesday, April 15th. They now have an “equal weight” rating on the stock. Finally, analysts at Ascendiant Capital Markets initiated coverage on shares of RF Micro Devices in a research note on Tuesday, March 11th. They set a “buy” rating and a $10.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. RF Micro Devices has a consensus rating of “Buy” and an average price target of $8.05.

RF Micro Devices, Inc is engaged in the design and manufacture of radio frequency (NASDAQ:RFMD) solutions.

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.