Dallas, Texas 10/10/2013 (Financialstrend) – On October 8, RF Micro Devices, Inc. (NASDAQ:RFMD) which is a leading designer and manufacturer of telecommunication and radio frequency solutions announced that it has commenced manufacturing of “new power amplifiers” (PAs) and “power management integrated circuits” (ICs) that go into the making of its proprietary “envelope tracking solution” offering. Company claims that this tracking solution consumes significantly less power and hence has great demand among the LTE platform manufacturers.
In related news about the future potential of the company on October4, Samsung provided its third quarter operations over the past week. What caught the analyst’s interest was the smart phone makers profit guidance. Its revenue forecast was higher than what was being estimated by the market analysts. While investors have to wait till end of October to follow Samsung’s earnings call, the components manufactures like RFMD who manufacture products which go into the making of the top selling smart phones and tablets of Samsung are celebrating.
The shares of RFMD rallied strongly on the news of potential increase in demand for its products. The stock gained 2.26% over the past week and is up 9.29% in the past one month. As of 11:00 AM ET on October 9, the shares of the stock were trading at $5.88 per share. It has appreciated by 0.9% which has taken the stock with in closing distance to its 52 week high pricing of $5.99 per share.
The device making company has a market cap of $1.65 billion and an annual sales turnover of $1.05 billion. It has notched up accumulated loss of $32 million in spite of its quarter on quarter sales going up by 44%. Its earnings per share have also gone up by 114% in the same time period. Due to the improved demand for its products, its investors would be hoping that its 3Q would be better than its 2Q achievenments.