UBS Maintains a 'Neutral' on RF Micro Devices (RFMD); Cutting Estimates; Lowered Gross Margin Assumptions
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Price: $16.59 --0%
Rating Summary:
12 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
12 Buy, 6 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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UBS maintains a 'Neutral' on RF Micro Devices (NASDAQ: RFMD), PT lowered from $5 to $4.50.
Analyst, Parag Agarwal, said, "With Nokia (NYSE: NOK) and China 2G related headwinds behind, near to mid-term revenue outlook for RFMD is largely de-risked, and RFMD is well positioned for a steady growth going forward, in our view. We further believe that RFMD has gained significant traction in 3G over last few quarters and now has an optimal product mix, in line with its peers. However, increasing opex for R&D and legal expenses coupled with lowered gross margin assumptions is driving our Neutral view on the stock."
"For FY13, we now forecast Rev/EPS of $882m/18c, vs. prior of $880m/33c. For FY14, our new estimates are Rev/EPS of $963m/37c, vs. prior of $960m/47c)"
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 $3.97 yesterday.
Analyst, Parag Agarwal, said, "With Nokia (NYSE: NOK) and China 2G related headwinds behind, near to mid-term revenue outlook for RFMD is largely de-risked, and RFMD is well positioned for a steady growth going forward, in our view. We further believe that RFMD has gained significant traction in 3G over last few quarters and now has an optimal product mix, in line with its peers. However, increasing opex for R&D and legal expenses coupled with lowered gross margin assumptions is driving our Neutral view on the stock."
"For FY13, we now forecast Rev/EPS of $882m/18c, vs. prior of $880m/33c. For FY14, our new estimates are Rev/EPS of $963m/37c, vs. prior of $960m/47c)"
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 $3.97 yesterday.
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