DA Davidson Downgrades RF Micro Devices (RFMD) to Neutral; Cutting Estimates After Pre-Announcement

DA Davidson downgraded RF Micro Devices (NASDAQ: RFMD) from Buy to Neutral, price target cut from $7 to $5.

DA analyst said, "We hate to shoot first and ask questions later but RFMD leaves us in a predicament. We believe the company has made good strides with Powersmart and Phenom but, until we get clarity around the margins, we are sitting this out. We are reducing our estimates for FY’12 and FY’13 and lowering our price target."

DA lowers FY12 EPS estimate from $0.38 to $0.26 and FY13 from $0.47 to $0.37.

For an analyst ratings summary and ratings history on RF Micro Devices click here. For more ratings news on RF Micro Devices click here.

Shares of RF Micro Devices closed at $5.64 yesterday.

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