RF Micro Devices, Inc. (NASDAQ:RFMD): DA Davidson Upgrades the Stock to “Buy”

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Dallas, Texas 05/01/2014 (FINANCIALSTRENDS) –  RF Micro Devices, Inc. (NASDAQ:RFMD) recently released its 4Q14 earnings on Tuesday, April 29, 2014. The company reported net earnings of $0.12 per share, excluding items on revenue of $256 million. This marginally beat analysts’ expectation of a profit of $0.09 per share on revenue of $255.5 million. The company also reported break even in terms of earnings per share for 4Q14 ended March 29, 2014 as it narrowed net loss to $1 million from a whopping $16 million or ($0.06) per share in 4Q13.

RF Micro Devices provided strong outlook for 1Q15 ending June 29, 2014 as it expects adjusted earnings of approximately $0.17 per share on revenue of $305 million.

Stock Upgrade:

RF Micro Devices, Inc. (NASDAQ:RFMD)’s stock was upgraded by equities research analysts at DA Davidson to a “buy” rating from “neutral” on Wednesday. Among other analysts who have commented on this stock include analysts at Needham & Company LLC who raised their price target to $10 for RF Micro Devices’ stock on Wednesday.

Analysts at Northland Securities also raised their price target to $11 from $7 on Wednesday with an “outperform” rating on the stock. Even equities analysts at Brean Capital also raised their price objective for this stock from $10 to $12 on Wednesday. The analysts now maintain a “buy” rating on the stock.

Among all the analysts following the stock of RF Micro Devices, two maintain “strong buy” rating, six analysts maintain “buy” rating and six analysts maintain “hold” rating. On consensus, the stock has a “buy” rating with a price objective of $8.98.

Stock Update:

On Wednesday, the stock of RF Micro Devices, Inc. (NASDAQ:RFMD) closed at $8.44 after gaining 4.33% in an intraday trade. The stock traded with a whopping volume of 27.33 million shares against its 30 day average volume of 10.10 million shares. Its 52-week range is of $4.50 and $8.73. The stock marked 52- week high of $8.73 during Wednesday’s trade.

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