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UPDATE - RF MICRO DEVICES
RF Micro Devices (RFMD)
We originally
recommended RFMD on 1/7/03. The stock today has moved down to $6.08,
primarily with the general decline of the market. The fundamentals on
this stock continue to be attractive. We believe the stock will move
higher toward our $13 target price. We believe clients should add to
their positions at this time. Achieving our target price from current
levels would represent a 113% gain on the stock.
On 1/21/03 RF Micro
Devices reported its financial results for the quarter ended 12/31/02.
The company reported earnings of $0.08 per share (before one-time
charges), which exceeded the consensus estimate of $0.05. The company
also reported that revenue rose 45% to $145.8 million, up from $100.6
million last year.
Stock Traders Press
Management
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