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Research analysts at Brean Capital raised their price target on shares of RF Micro Devices (NASDAQ:RFMD) from $10.00 to $12.00 in a report released on Wednesday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Brean Capital’s target price indicates a potential upside of 38.73% from the company’s current price.

RF Micro Devices (NASDAQ:RFMD) traded up 1.17% on Wednesday, hitting $8.65. The stock had a trading volume of 9,943,004 shares. RF Micro Devices has a one year low of $4.50 and a one year 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 was the recipient of 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. Approximately 5.9% of the company’s shares are sold short. Based on an average daily trading volume, of 11,815,516 shares, the short-interest ratio is presently 1.4 days.

RF Micro Devices (NASDAQ:RFMD) last announced its earnings results on Tuesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts predict that RF Micro Devices will post $0.74 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on RFMD. 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. Separately, 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. Finally, 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. Five 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 presently has a consensus rating of “Buy” and an average target price of $9.75.

In other RF Micro Devices news, CFO William A. Priddy sold 36,957 shares of RF Micro Devices stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $8.59, for a total transaction of $317,460.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

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