Share on StockTwits

Analysts at Canaccord Genuity upped their target price on shares of RF Micro Devices (NASDAQ:RFMD) from $9.50 to $12.50 in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 14.78% from the stock’s previous close.

RF Micro Devices (NASDAQ:RFMD) traded up 3.42% on Friday, hitting $10.89. 27,756,608 shares of the company’s stock traded hands. RF Micro Devices has a 1-year low of $4.50 and a 1-year high of $11.21. The stock has a 50-day moving average of $9.85 and a 200-day moving average of $7.91. The company has a market cap of $3.116 billion and a price-to-earnings ratio of 263.25. RF Micro Devices also saw a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 37,834,302 shares, an increase of 10.5% from the June 30th total of 34,225,906 shares. Approximately 13.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,656,923 shares, the short-interest ratio is presently 5.7 days.

RF Micro Devices (NASDAQ:RFMD) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.07. The company had revenue of $316.30 million for the quarter, compared to the consensus estimate of $304.86 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts predict that RF Micro Devices will post $0.77 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Craig Hallum reiterated a “buy” rating on shares of RF Micro Devices in a research note on Friday. They now have a $12.00 price target on the stock, up previously from $10.00. Separately, analysts at Needham & Company LLC raised their price target on shares of RF Micro Devices from $10.00 to $12.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Bank of America raised their EPS on shares of RF Micro Devices in a research note on Friday. They now have a $13.00 price target on the stock. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $12.18.

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

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.