Insider Selling: Steven E. Creviston Sells 35,000 Shares of RF Micro Devices Stock (RFMD)
RF Micro Devices (NASDAQ:RFMD) VP Steven E. Creviston sold 35,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $12.51, for a total transaction of $437,850.00. Following the completion of the transaction, the vice president now directly owns 993,765 shares in the company, valued at approximately $12,432,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of RF Micro Devices (NASDAQ:RFMD) traded down 3.91% during mid-day trading on Wednesday, hitting $12.28. 10,864,110 shares of the company’s stock traded hands. RF Micro Devices has a 52 week low of $4.50 and a 52 week high of $12.98. The stock has a 50-day moving average of $11.33 and a 200-day moving average of $9.20. The company has a market cap of $3.532 billion and a P/E ratio of 78.89. RF Micro Devices also was the target of some unusual options trading on Tuesday. Investors acquired 14,778 call options on the stock. This represents an increase of approximately 552% compared to the average daily volume of 2,268 call options.
RF Micro Devices (NASDAQ:RFMD) last issued its quarterly 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. On average, analysts predict that RF Micro Devices will post $1.02 earnings per share 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.24.
RF Micro Devices, Inc is engaged in the design and manufacture of radio frequency (NASDAQ:RFMD) solutions.
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