RF Micro Devices Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:RFMD)
RF Micro Devices (NASDAQ:RFMD) has been given an average recommendation of “Buy” by the fifteen brokerages that are presently covering the company, AmericanBankingNews.com reports. Four investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $12.24.
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, 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.
RF Micro Devices (NASDAQ:RFMD) opened at 11.54 on Wednesday. RF Micro Devices has a 1-year low of $4.50 and a 1-year high of $11.79. The stock has a 50-day moving average of $10.55 and a 200-day moving average of $8.59. The company has a market cap of $3.319 billion and a P/E ratio of 70.43.
RF Micro Devices (NASDAQ:RFMD) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.09 earnings per share. RF Micro Devices’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that RF Micro Devices will post $1.02 earnings per share for the current fiscal year.
In other RF Micro Devices news, Director Daniel A. Dileo unloaded 5,000 shares of RF Micro Devices stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $11.60, for a total value of $58,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
RF Micro Devices, Inc is engaged in the design and manufacture of radio frequency (NASDAQ:RFMD) solutions.
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