RF Micro Devices Sees Large Increase in Short Interest (RFMD)
Shares of RF Micro Devices (NASDAQ:RFMD) were the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 48,878,478 shares, a growth of 11.8% from the July 31st total of 43,702,154 shares, American Banking and Market News reports. Based on an average daily volume of 10,391,870 shares, the days-to-cover ratio is presently 4.7 days. Currently, 17.2% of the shares of the company are short sold.
In other RF Micro Devices news, CFO William A. Priddy sold 20,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $12.05, for a total value of $241,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
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 equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.24.
RF Micro Devices (NASDAQ:RFMD) opened at 11.76 on Friday. RF Micro Devices has a 1-year low of $4.50 and a 1-year high of $12.12. The stock has a 50-day moving average of $11.05 and a 200-day moving average of $9.01. The company has a market cap of $3.382 billion and a P/E ratio of 70.96.
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.
RF Micro Devices, Inc is engaged in the design and manufacture of radio frequency (NASDAQ:RFMD) solutions.
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