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Shares of RF Micro Devices (NASDAQ:RFMD) hit a new 52-week high during trading on Tuesday , Analyst Ratings Network reports. The stock traded as high as $9.09 and last traded at $9.02, with a volume of 5,787,585 shares. The stock had previously closed at $9.04.

A number of analysts have recently weighed in on RFMD shares. Analysts at Zacks upgraded shares of RF Micro Devices from a “neutral” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $9.20 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of RF Micro Devices in a research note on Wednesday, April 30th. They now have a $10.50 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of RF Micro Devices from $8.00 to $9.00 in a research note on Wednesday, April 30th. They now have a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.75.

The stock’s 50-day moving average is $8.28 and its 200-day moving average is $6.38. The company has a market cap of $2.514 billion and a price-to-earnings ratio of 226.00.

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 $0.76 earnings per share for the current fiscal year.

In other RF Micro Devices news, CFO William Priddy unloaded 22,222 shares of the stock on the open market in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.68, for a total value of $192,886.96. Following the completion of the transaction, the chief financial officer now directly owns 580,696 shares in the company, valued at approximately $5,040,441. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

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