Cantor Fitzgerald Maintains a 'Buy' on RF Micro Devices (RFMD); 3Q:12 In-Line; Disappointing Guidance; This Should Be the Bottom

Cantor Fitzgerald maintains a 'Buy' on RF Micro Devices (NASDAQ: RFMD) price target of $8.25.

Cantor analyst says, "The company reported a quarter that was in-line with their guidance that was updated in early January, but earnings were slightly below our estimates. However, guidance for 4Q was well below our estimates and consensus. The shortfall in both quarters is due to much weaker 2G revenues in China than expected. The good news is that the company's 3G/4G revenues are continuing to show strong growth."

"With new products ramping into new 3G/4G platforms over the next year, we find the shares attractive at current levels and suggest investors aggressively accumulate shares."

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 $4.85 yesterday.

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