RF Micro Devices Hits New 1-Year High at $9.82 (RFMD)
RF Micro Devices (NASDAQ:RFMD) shares hit a new 52-week high during trading on Thursday , AnalystRatingsNetwork.com reports. The stock traded as high as $9.82 and last traded at $9.70, with a volume of 6,058,040 shares traded. The stock had previously closed at $9.74.
Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $9.75.
The stock has a 50-day moving average of $8.78 and a 200-day moving average of $6.72. The company has a market cap of $2.761 billion and a P/E ratio of 243.50.
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. 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, VP Steven E. Creviston sold 25,000 shares of RF Micro Devices stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $9.48, for a total transaction of $237,000.00. The sale was disclosed in a legal 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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