RF Micro Devices Trading Down 2.9% on Insider Selling (RFMD)
RF Micro Devices (NASDAQ:RFMD) traded down 2.9% during trading on Wednesday following insider selling activity, American Banking & Market News reports. The company traded as low as $9.82 and last traded at $9.84, with a volume of 6,821,506 shares traded. The stock had previously closed at $10.13.
Specifically, VP Norman A. Hilgendorf sold 10,000 shares of RF Micro Devices stock on the open market in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.84, for a total transaction of $98,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
RFMD has been the subject of a number of recent research reports. 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 issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $9.75.
The stock’s 50-day moving average is $9.2 and its 200-day moving average is $7.03. The company has a market cap of $2.817 billion and a price-to-earnings ratio of 253.25.
RF Micro Devices (NASDAQ:RFMD) last announced its 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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