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Needham & Company LLC upped their target price on shares of RF Micro Devices (NASDAQ:RFMD) to $10.00 in a research note issued on Wednesday, American Banking and Market News reports. Needham & Company LLC’s target price points to a potential upside of 15.61% from the stock’s previous close.

RFMD has been the subject of a number of other recent research reports. Analysts at Northland Securities raised their price target on shares of RF Micro Devices from $7.00 to $11.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Brean Capital raised their price target on shares of RF Micro Devices from $10.00 to $12.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of RF Micro Devices from $7.25 to $9.25 in a research note on Thursday, April 24th. They now have a “hold” rating on the stock. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $9.75.

In other RF Micro Devices news, CFO William A. Priddy sold 36,957 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $8.59, for a total value of $317,460.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of RF Micro Devices (NASDAQ:RFMD) traded up 1.17% during mid-day trading on Wednesday, hitting $8.65. 9,943,004 shares of the company’s stock traded hands. RF Micro Devices has a 52-week low of $4.50 and a 52-week high of $8.81. The stock’s 50-day moving average is $7.91 and its 200-day moving average is $6.11. The company’s market cap is $2.444 billion. RF Micro Devices also saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 16,381,285 shares, a decline of 11.7% from the March 31st total of 18,547,510 shares. Based on an average trading volume of 11,815,516 shares, the days-to-cover ratio is presently 1.4 days. Approximately 5.9% of the shares of the company are sold short.

RF Micro Devices (NASDAQ:RFMD) last released its earnings data on Tuesday, April 29th. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.03. The company had revenue of $256.00 million for the quarter, compared to the consensus estimate of $255.54 million. During the same quarter last year, the company posted $0.06 earnings per share. RF Micro Devices’s revenue was down 8.8% compared to the same quarter last year. Analysts expect that RF Micro Devices will post $0.74 EPS for the current fiscal year.

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

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