Dallas, Texas 09/25/2013 (Financialstrend) – RF Micro Devices, Inc. (NASDAQ:RFMD) is a manufacturer of solutions which are used by mobile telephony and network operators. The company solutions offer radio frequency receiving and transmission related products which go into the making of cell phones and reside on the network operator’s base stations. RF Micro has a strong presence in the cell phone manufacturing industry and is one of the major suppliers on whose products iPhone majorly depends. In the back drop of news from Apple Inc that over 9 million iPhones units have flown off the shelves globally since its recent launch, RF Micro stock has seen a strong rally at the browsers.
The share has seen a 5.8% increase in its value over the week and has gained close to 15% through the month as iPhone new models sales started to take off. As of close of business on September 24, its share was trading at $5.77, just 2.2% shy of its prior 52 week high valuation. It had lost 0.35% from its previous day close of $5.79. It is up by close to 64% from its 52 week low valuation of $3.50. Through the trading session yesterday, over 7.4 million shares of RF Micro got traded. This was way above its daily average trade volume of 4.46 million.
At current valuations, the market cap of this company is $1.62 billion with roughly 280 million shares outstanding. It had recorded sales of $1.05 billion previous fiscal with a sales uptake which had recorded a 44.5% increase in 2Q in comparison to 2Q12. Its profit margin for 2QFY13 was down by 3.1% while its gross margin was 31.8%. on a trailing twelve month basis.
Year to date, the company share value has appreciated by 28% and analysts mean recommendation expects the company share price to appreciate further to target $6.96 over the next two quarters.