Williams Financial Group Maintains a 'Buy' on RF Micro Devices (RFMD); Q2 Pause Ahead of Program Ramps
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Price: $16.59 --0%
Rating Summary:
12 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Williams Financial Group maintains a 'Buy' on RF Micro Devices (NASDAQ: RFMD) price target of $9.00 (from $11.00).
Analyst, Cody G. Acree, said, "After seeing Apple’s (Nasdaq: AAPL) results and outlook, we suppose it’s not overly surprising that RFMD is expecting an unseasonably soft September quarter, particularly when considering several other chip vendors outlooks that have also been citing a significant pause and hesitancy in customer orders, especially over the past few weeks. Given our support for RFMD, we would have obviously preferred a stronger guide and we understand the high level of investor frustration with the name. However, we believe this would be the completely wrong time to abandon RFMD. We believe the company has a solid line-up of key marquee design wins that should provide strong growth in the December quarter, for both revenue and the firm’s share price, Apple’s iPhone 5 being at the top of this list. We believe the company has earned market share that will become more evident in the months to come and therefore maintain our rating, but are reducing PT and estimates."
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 $4.29 yesterday.
Analyst, Cody G. Acree, said, "After seeing Apple’s (Nasdaq: AAPL) results and outlook, we suppose it’s not overly surprising that RFMD is expecting an unseasonably soft September quarter, particularly when considering several other chip vendors outlooks that have also been citing a significant pause and hesitancy in customer orders, especially over the past few weeks. Given our support for RFMD, we would have obviously preferred a stronger guide and we understand the high level of investor frustration with the name. However, we believe this would be the completely wrong time to abandon RFMD. We believe the company has a solid line-up of key marquee design wins that should provide strong growth in the December quarter, for both revenue and the firm’s share price, Apple’s iPhone 5 being at the top of this list. We believe the company has earned market share that will become more evident in the months to come and therefore maintain our rating, but are reducing PT and estimates."
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 $4.29 yesterday.
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