It seemed like yesterday when I was loading up on this at $1.75....
RF Micro Device estimates and tgt raised to $4 at Oppenheimer as demand trends create a postive outlook (RFMD) 3.43 : Oppenheimer raises their Q1 and FY10/11 EPS ests to $0.01 from $(0.01) (consensus $0.00) and to $0.08/$0.13 from $0.02/$0.09 (consensus $0.08 and $0.17), respectively. The firm also raises their tgt to $4 from $3. The firm notes that RFMD has been vocal during the quarter with respect to the pace of its recovery, suggesting demand trends are better than guided to on its last earnings call. The firm's checks support the positive outlook and also reveal that part of the strength stems from market share gains at Nokia and Samsung. The firm expect RFMD's momentum to carry over into the September quarter, with revenue growth likely to remain stronger than the underlying handset market. In addition, the firm expects the stronger volumes to drive higher yields and likely near-term gross margin upside as well.
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