RF Micro Devices Given Consensus Rating of “Buy” by Brokerages (NASDAQ:RFMD)
Shares of RF Micro Devices (NASDAQ:RFMD) have earned an average rating of “Buy” from the fifteen ratings firms that are covering the stock, AnalystRatingsNetwork reports. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.24.
Shares of RF Micro Devices (NASDAQ:RFMD) opened at 11.29 on Wednesday. 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 $8.50. The company has a market cap of $3.247 billion and a price-to-earnings ratio of 69.69. RF Micro Devices also was the recipient of a large growth in short interest during the month of 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. Currently, 15.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 18,445,839 shares, the short-interest ratio is presently 2.4 days.
RF Micro Devices (NASDAQ:RFMD) last released its 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. Analysts expect that RF Micro Devices will post $1.02 EPS for the current fiscal year.
A number of analysts have recently weighed in on RFMD shares. Analysts at Pacific Crest reiterated an “outperform” rating on shares of RF Micro Devices in a research note on Thursday, August 7th. 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.
In other RF Micro Devices news, VP Barry D. Church unloaded 12,701 shares of RF Micro Devices stock on the open market in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $11.40, for a total transaction of $144,791.40. The transaction was disclosed in a 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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