Insider Selling: Daniel A. Dileo Sells 5,000 Shares of RF Micro Devices Stock (RFMD)
RF Micro Devices (NASDAQ:RFMD) Director Daniel A. Dileo sold 5,000 shares of RF Micro Devices stock on the open market in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $11.60, for a total transaction of $58,000.00. Following the sale, the director now directly owns 60,800 shares of the company’s stock, valued at approximately $705,280. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of RF Micro Devices (NASDAQ:RFMD) traded down 1.47% on Thursday, hitting $11.41. The stock had a trading volume of 9,839,706 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 $10.4 and its 200-day moving average is $8.53. The company has a market cap of $3.282 billion and a price-to-earnings ratio of 71.48. RF Micro Devices also saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 43,702,154 shares, an increase of 15.5% from the July 15th total of 37,834,302 shares. Based on an average daily trading volume, of 18,445,839 shares, the days-to-cover ratio is currently 2.4 days. Approximately 15.4% of the shares of the company are short sold.
RF Micro Devices (NASDAQ:RFMD) last announced its 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.
RFMD has been the subject of a number of recent research reports. 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $12.24.
RF Micro Devices, Inc is engaged in the design and manufacture of radio frequency (NASDAQ:RFMD) solutions.
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