RF Micro Devices Reaches New 52-Week High at $11.83 (RFMD)
Shares of RF Micro Devices (NASDAQ:RFMD) hit a new 52-week high during trading on Monday , American Banking & Market News reports. The company traded as high as $11.83 and last traded at $11.70, with a volume of 5,009,362 shares trading hands. The stock had previously closed at $11.54.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $12.24.
The stock’s 50-day moving average is $10.55 and its 200-day moving average is $8.59. The company has a market cap of $3.359 billion and a price-to-earnings ratio of 71.23.
RF Micro Devices (NASDAQ:RFMD) last released 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.
In other RF Micro Devices news, Director Daniel A. Dileo unloaded 5,000 shares of the 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. 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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