Short Interest in RF Micro Devices Increases By 27.1% (RFMD)
RF Micro Devices (NASDAQ:RFMD) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 20,780,220 shares, a growth of 27.1% from the April 30th total of 16,347,176 shares, StockRatingsNetwork reports. Based on an average trading volume of 10,071,110 shares, the days-to-cover ratio is currently 2.1 days. Currently, 7.4% of the shares of the company are sold short.
In other RF Micro Devices news, Director Daniel Dileo sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $9.25, for a total transaction of $92,500.00. Following the sale, the director now directly owns 60,800 shares of the company’s stock, valued at approximately $562,400. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on RFMD. 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 equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $9.75.
RF Micro Devices (NASDAQ:RFMD) opened at 9.45 on Friday. RF Micro Devices has a 1-year low of $4.50 and a 1-year high of $9.77. The stock’s 50-day moving average is $8.58 and its 200-day moving average is $6.5. The company has a market cap of $2.704 billion and a price-to-earnings ratio of 242.75.
RF Micro Devices (NASDAQ:RFMD) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts expect that RF Micro Devices will post $0.76 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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