RF Micro Devices Receives “Strong-Buy” Rating from Raymond James (RFMD)
RF Micro Devices (NASDAQ:RFMD)‘s stock had its “strong-buy” rating reaffirmed by analysts at Raymond James in a research report issued to clients and investors on Friday. They currently have a $13.00 price objective on the stock, up from their previous price objective of $10.50. Raymond James’ price objective would suggest a potential upside of 19.38% from the stock’s previous close.
A number of other analysts have also recently weighed in on RFMD. Analysts at DA Davidson reiterated a “buy” rating on shares of RF Micro Devices in a research note on Friday. They now have a $13.00 price target on the stock, up previously from $11.00. Separately, analysts at Canaccord Genuity raised their price target on shares of RF Micro Devices from $9.50 to $12.50 in a research note on Friday. They now have a “hold” rating on the stock. Finally, 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. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $12.18.
Shares of RF Micro Devices (NASDAQ:RFMD) traded up 3.42% on Friday, hitting $10.89. 27,753,608 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 $10.87. The stock’s 50-day moving average is $9.8 and its 200-day moving average is $7.87. The company has a market cap of $3.116 billion and a price-to-earnings ratio of 263.25. RF Micro Devices also was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 37,834,302 shares, a growth of 10.5% from the June 30th total of 34,225,906 shares. Based on an average daily volume of 6,656,923 shares, the days-to-cover ratio is currently 5.7 days. Approximately 13.4% of the shares of the company are short sold.
RF Micro Devices (NASDAQ:RFMD) last released its earnings data on Thursday, July 24th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts expect that RF Micro Devices will post $0.77 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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