RF Micro Devices Short Interest Up 15.5% in July (RFMD)
RF Micro Devices (NASDAQ:RFMD) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 43,702,154 shares, a growth of 15.5% from the July 15th total of 37,834,302 shares, Stock Ratings Network reports. Currently, 15.4% of the shares of the company are short sold. Based on an average trading volume of 18,445,839 shares, the short-interest ratio is presently 2.4 days.
In other RF Micro Devices news, VP Barry D. Church sold 12,701 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $11.40, for a total transaction of $144,791.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on RFMD. Analysts at Pacific Crest reiterated an “outperform” rating on shares of RF Micro Devices in a research note on Thursday. Separately, analysts at Zacks upgraded shares of RF Micro Devices from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $11.90 price target on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of RF Micro Devices in a research note on Friday, July 25th. They now have a $13.00 price target on the stock, up previously from $10.50. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $12.24.
Shares of RF Micro Devices (NASDAQ:RFMD) traded up 1.52% on Monday, hitting $11.36. The stock had a trading volume of 7,667,676 shares. RF Micro Devices has a 1-year low of $4.50 and a 1-year high of $11.79. The stock’s 50-day moving average is $10.3 and its 200-day moving average is $8.4. The company has a market cap of $3.267 billion and a P/E ratio of 69.07.
RF Micro Devices (NASDAQ:RFMD) last posted its quarterly earnings results 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. Analysts expect that RF Micro Devices will post $1.02 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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