Needham & Company Starts RDA Microelectronics (RDA) at Strong Buy

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Needham & Company initiates coverage on RDA Microelectronics (NASDAQ: RDA) with a Strong Buy. PT $15.50.

Analyst N. Quinn Bolton comments: "We are initiating coverage of RDA Microelectronics with a Strong Buy rating and have established a 12-month price target of $15.50, based on a 10X multiple of our 2013 non-GAAP EPS estimate. RDA is a leading fabless semiconductor company headquartered in Shanghai, China, that designs and sells RF front-end components including power amplifiers, switches and front-end modules, mixed-signal wireless SoC semiconductors including cellular basebands and transceivers and WiFi, Bluetooth and FM connectivity solutions and broadcast receivers including analog and digital mobile TV receivers, DVB-S tuners and satellite down converters."

For an analyst ratings summary and ratings history on RDA Microelectronics click here. For more ratings news on RDA Microelectronics click here.

Shares of RDA Microelectronics closed at $9.93 yesterday, with a 52 week range of $7.06-$14.25.

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