Boston, MA 10/28/2013 (wallstreetpr) – RF Micro Devices, Inc. (NASDAQ:RFMD) released its most recent earnings data on October 22. The manufacturer of radio frequency components and semiconductor technologies earned $0.12 a share on revenue of $310.90 million for the Q2.14 trading period. This per share earning beat analysts’ consensus of $0.10 by $0.02. The reported revenue also exceeded analysts’ expectation of $308.23 million. During the same quarter a year ago, the company earned $0.03 a share. And its revenue was up 48.2% from Q2.13. The radio technologies manufacturer has recently had its price target lowered to $7.25 from $7.50 by analysts at Canaccord Genuity. However, it still has a buy rating from the agency.
Several other rating agencies have recently commented on the stock. These include Zacks with outperform and price target of $6.20 on the stock; Thomson Reuters with a hold rating on the stock; and then Raymond James with strong-buy rating and $7 price target on the stock. So far 16 analysts have commented on the stock of RFMD with four issuing a hold rating, 10 issuing a buy and two issuing strong-buy rating. The stock does not have any sell rating for now. On average, RFMD has a consensus buy and consensus price target of $6.69 per share.
The stock’s recent decline at the browser can be seen as a buy opportunity for investors seeking a piece of this semiconductor and RF technologies company. Basically, RFMD has strengths in multiple areas which make it better placed for massive profits in the coming months. RFMD is engaged in the business of designing, manufacturing and marketing of RF devices and semiconductor technologies. The company’s devices enable worldwide connectivity and mobility. RFMD also has great market network which is also one of its strengths in this industry.
At the end of the Friday trading, the stock dropped 1.12% to close the day south at $5.31. It has a market cap of $1.49 billion.
