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Oppenheimer Upgrades RF Micro Devices (RFMD) to Outperform, Risk/Reward Skewed Favorably
http://www.streetinsider.com/Upgrades/UPDATE%3A+Oppenheimer+Upgrades+RF+Micro+Devices+%28RFMD%29+to+Outperform%2C+RiskReward+Skewed+Favorably/8210669.html
Oppenheimer today upgraded RF Micro Devices (NASDAQ: RFMD) from Perform to Outperform with a price target of $7.00. Analyst Rick Schafer made note of RF Micro's spotty history, but he thinks this could be skewing risk/reward favorably.
"RFMD's checkered past is, in part, tied to its one-time overreliance on Nokia (NYSE: NOK). Over the past 2-3 years, however, RFMD has de-risked NOK from 50%-plus to ~5% of sales," said Schafer.
Apple (Nasdaq: AAPL) and Samsung now account for 30 to 40 percent of sales, with most other Tier-1 handset customers accounting for 5 percent of sales each.
"We look for RFMD to sustain/gain content on high-profile product refreshes through 2013 . . . we would be buyers here," concluded Schafer.
RFMD open Gap @ 4.48
(filled with a tail - full candle fill is always better.)
Open Gap:
Direction Date Range
up Jan-02-2013 4.48 to 4.53
RFMD, TQNT, SWKS Fall On New Threat From Qualcomm (Updated)
http://www.forbes.com/sites/ericsavitz/2013/02/21/rfmd-tqnt-swks-fall-on-new-threat-from-qualcomm/?partner=
RFMD, SWKS Drop on QCOM News; Raymond James Downgrades, Longbow Defends.
By Tiernan Ray
http://blogs.barrons.com/techtraderdaily/2013/02/21/rfmd-swks-drop-on-qcom-news-raymond-james-downgrades-longbow-defends/?mod=yahoobarrons
Shares of wireless chip vendors are crumbling today, after Qualcomm (QCOM) this morning said it will start selling a so-called “front-end module,” the parts that handle the RF portion of a wireless device, in addition to its existing franchise in the baseband portion of wireless circuitry.
Qualcomm shares are down 66 cents, or 1%, at $64.61, but shares of RF Micro Devices (RFMD) are down 74 cents, over 14%, at $4.44, TriQuint Semiconductor (TQNT) stock is off 35 cents, or 7.4%, at $4.40, Avago Technologies (AVGO) is down $1.10, or 3%, at $33.66, and Skyworks Solutions (SWKS) shares are down $3.06, or 13%, at $20.56.
Raymond James analyst Tavis McCourt cut his ratings on all three RF vendors today, reducing Skyworks to Outperform from Strong Buy, cutting RF Micro to Market Perform from Outperform, and cut TriQuint to Underperform, calling Qualcomm’s announcement a “bombshell.”
McCourt notes that the $4 billion to $5 billion front-end RF market is growing by 10% to 15% annually, propelled by the advent of “long-term evolution,” or LTE, cellular, which is generally increasing RF content in chipsets.
McCourt notes that not all of the technical aspects of Qualcomm’s offering are proven, or even known, for that matter:
Qualcomm expects to have commercial products with its RF front end in market in 2H13. Qualcomm has had internal projects around RF front end components for a number of years, but this is its first commercial deployment that we are aware of. Of note, Qualcomm is using a silicon CMOS-based power amplifier, and it has not published any power efficiency stats, so its actual performance versus existing GaAs-based PA solutions is uncertain. Additionally, Qualcomm is not integrating its RF front end with its snapdragon processor, so this is a discreet system that Qualcomm will attempt to cross sell (i.e., vendors can choose the Qualcomm RF front end or competitors’ offerings freely.) We expect the Qualcomm solution will target the Chinese market initially, but over the longer term, Qualcomm’s ambitions are obviously much larger.
McCourt expects P/E multiples will be “capped” for the RF vendors given that he thinks it is a matter of time before Qualcomm finds success in the front-end market:
Historically, Qualcomm’s entry into new chip markets have had only modest success in the first 1-2 years, but almost universal success over a three- to five-year time frame given its substantial R&D scale and systems expertise. We expect Qualcomm’s entry will have no impact on Skyworks’ analog, WLAN, or other non-cellular end market businesses.
But there were also defenders today. Longbow Research’s Joanne Feeney reiterates Buy ratings on Avago, RF Micro, and Skyworks, and a Nuetral rating on TriQuint.
Feeney thinks the Qualcomm part is too generic to pose a real threat:
QCOM’s new front-end module (FEM) provides an off-the-shelf solution for OEMs, but the generic nature of this device—and a number of technology shortcomings—will be very likely to limit adoption. QCOM’s solution is based on all-silicon (SOI or SiGe) technology whereas leading-edge PAs are GaAs-based because that material provides superior performance, so we suspect this solution would be adopted only in lower-end smartphones. The FEM can only perform as well as its worst component – so handset OEMs which emphasize performance will likely steer clear of this one. Superior performance claims likely reflect QCOM’s baseband and the integration of envelope tracking (ET) technology—but others will have ET-PAs at the same time. Sub-par filter technology: QCOM is using SAW filter technology and this underperforms FBAR/BAW on certain bands – particularly LTE bands. Once again, this points to QCOM’s RF360 being targeted at lower-end devices. Uniformity for OEMs: QCOM’s solution removes the ability of OEMs to differentiate handsets. Handsets will end up having the same performance specifications. This would undermine the ability of the OEMs to segment its own customer base into high-spending customers and low, and would remove the ability to differentiate from competitors. No customization and no second source.
And Lazard Capital Markets’s Ian Ing stakes out a middle ground. For him, Qualcomm’s product may not be about competing at all, but rather about protecting its baseband franchise:
One could argue that QCOM intends to gain handset content by entering the RF market (despite unattractive gross margins), which would be a negative for RF vendors. More likely, we would argue that Qualcomm has viewed “band fragmentation” as a threat to building single- platform world phones (QCOM’s default combo chip) as it opens the door for other modem suppliers with more limited solutions (such as BRCM, Mediatek, etc). Given that RF vendors are without an easy turnkey solution to support the 40 radio-bands in the world, QCOM may be attempting to push the RF IC vendors to better match the bar set by the QCOM RF360 solution. QCOM has ‘kick started’ markets before: We note QCOM will often enter, then exit, markets just to “kick start” them to better help its QCT and QTL model. Recall, it produced CDMA handsets in the mid-to-late 90s, and recently sold its stake at an Indian BWA carrier (JV with Bharti). These moves were not meant to become a Motorola or a Verizon, but to create better opportunities for QCT and QTL in the long run.
Ing maintains Buy ratings on Avago, Skyworks, and Qualcomm, and Neutral ratings on RF Micro and TriQuint.
Just a little? LOL
I'm wondering if it's sector related more than anything?
A little over reaction - don't you think...? It doesn't seem like going from outperform to market perform should draw so much blood.
Must have been a glitch in the program I use (StreetSmartEdge)because at 4:00pm it showed about (27) 85,941 trades in a row, then a few minor trade followed by about (10) 19,499 trades. I just revisited the program and there are only single trades with those numbers. ????
2 1/4 million shares traded at 4:00pm. - most at $5.27. Any news?
1/31/13 RFMD Announces Extension of Share Repurchase Program
Press Release: RF Micro Devices – Thu, Jan 31, 2013 4:02 PM
GREENSBORO, N.C., Jan. 31, 2013 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (RFMD), a global leader in the design and manufacture of high-performance radio frequency solutions, announced today that the Company's board of directors has authorized an extension of RFMD's 2011 share repurchase program to repurchase up to $200 million of the Company's common stock through January 31, 2015. Since January 2011, the Company has repurchased $ 49.9 million of its common stock under this program, leaving it with additional authorization of up to $150.1 million under the program as a result of this extension.
RFMD's share repurchase program authorizes RFMD to repurchase shares from time to time through solicited or unsolicited transactions in the open market or in privately negotiated transactions. The number of shares to be purchased and the timing of the purchases will be based on market conditions and other factors. The program may be discontinued at any time.
RFMD Announces Extension of Share Repurchase Program
Press Release: RF Micro Devices –
January 31, 2013
http://finance.yahoo.com/news/rfmd-announces-extension-share-repurchase-210202062.html
GREENSBORO, N.C., Jan. 31, 2013 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (RFMD), a global leader in the design and manufacture of high-performance radio frequency solutions, announced today that the Company's board of directors has authorized an extension of RFMD's 2011 share repurchase program to repurchase up to $200 million of the Company's common stock through January 31, 2015. Since January 2011, the Company has repurchased $ 49.9 million of its common stock under this program, leaving it with additional authorization of up to $150.1 million under the program as a result of this extension.
RFMD's share repurchase program authorizes RFMD to repurchase shares from time to time through solicited or unsolicited transactions in the open market or in privately negotiated transactions. The number of shares to be purchased and the timing of the purchases will be based on market conditions and other factors. The program may be discontinued at any time.
WOW - 20 trades at 16:00pm for 62,535 shares each.... could someone be loading up? That's 1,250,000 shares on the buy side.
RF Micro Devices® Delivers 29% Sequential Growth In December Quarterly Revenue
http://finance.yahoo.com/news/rf-micro-devices-delivers-29-210000570.html
(NOTE: see link for gaap results and non gaap results as I didn't copy and paste those from this press release due to format)
Company Expects To Outperform Underlying Markets In March Quarter
GREENSBORO, N.C., Jan. 22, 2013 /PRNewswire
Quarterly Highlights:
•December 2012 Quarterly Revenue Increases Approximately 29% Sequentially To $271.2 Million
•GAAP Gross Margin Expands To 32.0% And Non-GAAP Gross Margin Expands To 35.5%
•GAAP Diluted EPS Is ($0.01), And Non-GAAP Diluted EPS Is $0.08
•RFMD Anticipates Revenue Of Approximately $250 Million To $255 Million And Non-GAAP EPS Of Approximately $0.04 To $0.05 In The March 2013 Quarter
RF Micro Devices, Inc. (Nasdaq GS: RFMD), a global leader in the design and manufacture of high-performance radio frequency solutions, today reported financial results for the Company's fiscal 2013 third quarter, ended December 29, 2012.
RFMD's third quarter revenue increased approximately 29% sequentially to $271.2 million, versus $209.7 million in the prior quarter. The sequential revenue growth reflected broad-based growth in RFMD's Cellular Products Group (CPG) and growth in high-performance WiFi in RFMD's Multi-Market Products Group (MPG).
On a GAAP basis, gross margin totaled 32.0%, quarterly operating income was $5.7 million, and quarterly net loss was ($1.4) million, or ($0.01) per diluted share. On a non-GAAP basis, gross margin expanded to 35.5%, quarterly operating income totaled $26.8 million, and quarterly net income was $21.3 million, or $0.08 per diluted share. RFMD generated cash flow from operations of $43.3 million during the quarter.
Strategic Highlights
•RFMD delivered robust sequential revenue growth across a broad set of products and customers
•RFMD acquired leading RF CMOS technology provider Amalfi Semiconductor to complement its product portfolio for entry-level handsets and smartphones
•CPG grew revenue approximately 40% sequentially, with increasing content in the world's leading smartphones and reference designs
•MPG grew WiFi revenue approximately 28% sequentially in support of multiple applications, including smartphones, tablets, enterprise equipment, and consumer products
•MPG commenced shipments of high-performance 802.11ac WiFi front ends in support of a leading smartphone manufacturer
Business Commentary and Financial Outlook
RFMD expects to outperform normal seasonality in the March 2013 quarter, reflecting continued content gains and category expansion, combined with the benefit of significant customer product ramps.
RFMD currently believes the demand environment in its end markets supports the following expectations and projections for the March 2013 quarter:
•RFMD expects quarterly revenue to decrease approximately 6-8% sequentially to approximately $250 million to $255 million
•RFMD expects a non-GAAP tax rate of approximately 22%
•RFMD expects non-GAAP EPS of approximately $0.04 to $0.05
RFMD's actual quarterly results may differ from these expectations and projections, and such differences may be material.
Comments From Management
Bob Bruggeworth, president and CEO of RFMD, said, "RFMD's robust sequential revenue growth in the December quarter reflected continued content gains, category expansion, and growth in our addressable markets. Looking forward, RFMD secured major design wins during the quarter, and we are executing on multiple opportunities to increase our content generation-over-generation in the world's leading smartphones and significantly outpace the growth rate of the underlying markets."
Dean Priddy, CFO and vice president of administration of RFMD, said, "RFMD's December quarterly revenue increased by 29% quarter-over-quarter to $271.2 million and supported a near tripling in non-GAAP operating income quarter-over-quarter to $26.8 million. On the balance sheet, RFMD generated $43.3 million in cash flow from operations during the December quarter, versus $1.9 million in the prior quarter, nearly offsetting the purchase in November of Amalfi Semiconductor.
"In the March quarter, we expect our ability to capture an increasing amount of semiconductor content within smart devices and reference designs will enable RFMD to outperform normal seasonality in the March quarter."
RF Micro Devices Management Discusses Q3 2013 Results - Earnings Call Transcript
http://seekingalpha.com/article/1126111-rf-micro-devices-management-discusses-q3-2013-results-earnings-call-transcript?source=yahoo
Really? LOL
It felt like you posted that so early.
Thanks for getting it on the board! :)
Hi Jen.
It was right after the bell - at 4:00 on the button Schwab through
StreetSmart Edge issued the reports.
RFMD: Q3 Adj EPS 8c vs 2c Beats 6c Est
Tuesday , January 22, 2013 16:13ET
QUARTER RESULTS
RF Micro Devices Inc (RFMD) reported Q3 results ended December 2012. Q3 Revenues were $271.20M; +20.30% vs yr-ago; BEATING revenue consensus by +10.37%. Q3 EPS was (1c). Adjusted Q3 EPS was 8c; +300.00% vs yr-ago; BEATING earnings consensus by +33.33%.
Q3 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
---------- ------------ ------------ ---------- ------------ ----------
Revenues: $271.20M $225.43M +20.30% $245.73M +10.37%
---------- ------------ ------------ ---------- ------------ ----------
EPS: (1c) N/A N/A N/A N/A
Adj EPS: 8c 2c +300.00% 6c +33.33%
---------- ------------ ------------ ---------- ------------ ----------
Hey Dog
I didn't think they reported until after the bell?
Where did you get those numbers?
RFMD reported fiscal third quarter earnings of $0.08, one cent above the whisper number and two cents ahead of the analysts' estimate. So why is it going backwards?
RF Micro Devices to Webcast Quarterly Earnings Conference Call on January 22, 2013
Tuesday , January 08, 2013 07:30ET
GREENSBORO, N.C., Jan. 8, 2013 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components, will host a conference call to review fiscal 2013 third quarter financial results on Tuesday, January 22, 2013, at 5:00 p.m. (ET). The conference call will be webcast live on the Company's web site at http://www.rfmd.com (under "Investors").
A telephone playback of the conference call will be available approximately one hour after the call's completion and can be accessed by dialing 303-590-3030 and using the passcode 4587278. The playback will be available through the close of business January 29, 2013.
RFMD will distribute fiscal 2013 third quarter financial results at approximately 4:00 p.m. (ET) on Tuesday, January 22, 2013.
If this is going over the cliff... I like it.
RFMD(R) Introduces 5GHz WiFi Module for 802.11ac Notebook and Mobile Equipment Applications
Today : Monday 7 January 2013
RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components, today introduced the highly-integrated RFFM4501E front end module (FEM) for 802.11ac notebook and mobile equipment applications. RFMD's newest WiFi FEM meets or exceeds the system requirements for 802.11ac connectivity in the 5.150GHz – 5.850GHz frequency band and is optimized to support multiple applications, including notebooks, mobile routers, and low-power customer premises systems.
The RFFM4501E integrates a +17.5dBm (80MHz MCS9) PA at 3.3V, a low insertion loss/high isolation single pole two throw (SP2T) switch, harmonic filtering, and a low noise amplifier (LNA) with bypass mode, for equipment manufacturers seeking to adjust receive sensitivity. The receive chain provides 12.5dB of typical gain with only 12mA of current and an excellent noise figure of 2.5dB. Separate Rx/Tx 50 Ohm ports simplify matching and provide input and output signals for both the transmit and receive paths.
The RFFM4501E is optimized to mate with the 802.11ac chipset of a leading semiconductor company.
The ultra-small form factor (3mm x 3mm x 1.1mm) and high level of integration of the RFFM4501E shrink the product footprint, reduce external component count, minimize assembly costs, speed time-to-market, and enable industry-leading product performance
RFMD open Gap @ 4.48
Direction Date Range
up Jan-02-2013 4.48 to 4.53
told yoo we were going over the cliff just begun trading might be higher thats just false trading this thing is going to drop like a rock.
I liked the Barclays comments posted earlier about five potential growth drivers for the company in 2013 and 2014:
Got it... thanks, anyway, I think we are immune to the cliff.
What is coming?
IMHO? A new year, with new business for RFMD, and four new quarters of reports... each guiding us to a particular conclusion which just so happens to be an unknown right now. ;)
He was talking about the fiscal cliff.
(Which - before anyone goes further with that topic... LOL - We are a stock specific board. RFMD - no politics, no cliff, no random stocks - etc.)
Jen... forgive me for being stupid and uninformed, but what is coming? Thanks
better get out while you can, its coming.
RF Micro Spikes As Barclays Ups Rating To Overweight
http://www.forbes.com/sites/ericsavitz/2012/12/13/rf-micro-spikes-as-barclays-ups-rating-to-overweight/?partner=yahootix
RF Micro Devices shares are trading higher Thursday after Barclays analyst Blayne Curtis upped his rating on the chip maker’s shares to Overweight from Equal Weight, with a new price target of $6, up from $5. The stock closed Wednesday at $4.44.
Curtis writes in a research note that he remains tempered on the outlook for RF semiconductor growth, but that he nonetheless sees upside for RF Micro from both new products and market share gains.
More specifically, he lists five potential growth drivers for the company in 2013 and 2014:
•He thinks the company will capture the majority of the $400 million to $500 million market for antenna tuners in 2014.
•He sees opportunity for the company to win the antenna switch module or power amplifier slots in the Apple iPhone 5S.
•He contends the company should gain share on Qualcomm and Broadcom based smartphones.
•Curtis sees potential growth in low-end 3G smartphones.
•And he sees a potential to be a second-source for WiFi chips on Broadcom based devices.
For the March 2013 fiscal year, he now sees profits of 14 cents a share, up from 13 cents; for FY 2014 he goes to 35 cents, from 31 cents.
RFMD this morning is up 35 cents, or 7.8%, to $4.75
Manic Stock Alerts on $RFMD since 4.00 Congrats East
ManicTrader Member Level
Thursday, November 08, 2012 11:40:51 AM
Re: Jackie Scan post# 11160
Post # of 11687
$RFMD on Watch at 4.00, 100/200day sma
Barclays Upgrades RF Micro Devices (RFMD) to Overweight
7:28 AM ET, 12/13/2012 - Street Insider
Barclays upgraded RF Micro Devices (NASDAQ: RFMD) from Equalweight to Overweight with a price target of $6.00 (from $5.00).
Shares of RF Micro Devices closed at $4.40 yesterday, with a 52 week range of $3.45-$5.69.
RFMD Introduces Highly-Integrated FEM for Smart Metering/Smart Energy and ISM Band Applications
RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today announced the availability of the RFFM6903 front end module (FEM). RFMD's highly-integrated RFFM6903 FEM meets or exceeds the system requirements for AMI/AMR smart meter applications operating in the 868MHz–960MHz frequency band. The FEM supports multiple applications, including Smart Energy/advanced metering infrastructure (AMI), portable battery-powered equipment, and general 868/915MHz ISM band systems.
The feature-rich RFFM6903 integrates a +30.5dBm power amplifier (PA) with a Tx harmonic output filter in the transmit path, a Tx path bypass mode with harmonic filter, and a low-noise amplifier (LNA) with bypass mode in the receive path and is packaged in a 6mm x 6mm x 1mm laminate package. The RFMD® RFFM6903 also includes a low insertion loss, high isolation, single-pole three-throw (SP3T) switch and separate Rx/Tx 50 ohm ports that simplify matching and provide input and output signals for both the Tx and Rx paths. In the receive path, the Rx chain provides 16dB of typical gain with only 5mA of current and an excellent noise figure of 1.7dB.
Rohan Houlden, general manager of RFMD's Wireless Connectivity business unit, said, "The RFFM6903 is ideal for advanced metering systems requiring high efficiency and minimum output power of 1 Watt. The high level of integration and industry-leading form factor minimize the footprint and reduce the number of discrete components and manufacturing assembly costs. The fully-integrated front end module design approach shortens customer design time and accelerates time-to-market, while delivering industry leading product performance."
RFMD is showcasing a broad portfolio of industry-leading RF components at the Electronica 2012 trade show in Munich, Germany, November 13-16, Stand #A4.134. Datasheets can be obtained via RFMD's website at www.rfmd.com or by contacting RFMD at 336-664-1233.
Availability
The RFFM6903 is available for sampling and mass production.
About RFMD
RF Micro Devices, Inc. (Nasdaq:RFMD) is a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the mobile device, wireless infrastructure, wireless local area network (WLAN or WiFi), cable television (CATV)/broadband, Smart Energy/advanced metering infrastructure (AMI), and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.
RFMD Releases Family of Linear GaN Power Transistors
Today : Tuesday 13 November 2012
RF Micro Devices, Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies, today announced that RFMD has production released two highly linear gallium nitride (GaN) RF unmatched power transistors (UPTs)—RFHA3942 (35W) and RFHA3944 (65W)—that deliver superior linear performance versus competing GaN transistors.
The release of the RFHA3942 and RFHA3944 follows the previous release of the RF393X series of UPTs targeting continuous wave (CW) and pulsed peak power applications. This new series of linear GaN discrete amplifiers is optimized for broadband applications requiring linear back-off operation or reduced spurious performance. RFMD plans to further its technology leadership position with future releases of 10W and 95W linear GaN devices over the next 12 months, significantly expanding the GaN UPT options available to RFMD's customers.
RFMD's highly linear GaN UPTs target new and existing communication architectures requiring improved broadband linear performance in support of high peak-to-average modulation waveforms. The RFHA3942 and RFHA3944 are tunable over a broad frequency range (DC to 4GHz) and provide CW peak power of 35W and 65W respectively. They also offer high gain of 15dB and high peak efficiency of >55%. Using an IS95 9.8dB PAR signal tuned to 2.1GHz, the RFHA3942 achieves -43dBc adjacent channel power (ACP) at 34dBm POUT and the RFHA3944 achieves -54dBc ACP at 37dBm POUT. Additionally, the RFHA3942 and RFHA3944 offer high terminal impedance at the input and output of the package, enabling wideband gain and power performance advantages in a single amplifier. The RFHA3942 and RFHA3944 are packaged in a flanged ceramic two-leaded package that leverages RFMD's advanced heat-sink and power-dissipation technologies to deliver excellent thermal stability and conductivity.
Jeff Shealy, vice president and general manager of RFMD's Power Broadband business unit, said, "RFMD is very pleased to expand its GaN-based product portfolio, offering industry-leading linear power performance in support of diverse end markets. RFMD's GaN product portfolio clearly demonstrates our continued commitment to technology and product leadership, and we look forward to introducing additional GaN devices that feature superior power density, high efficiency, rugged dependability, and 'green' power consumption advantages."
RFMD is showcasing a broad portfolio of industry-leading RF components at the Electronica 2012 trade show in Munich, Germany, November 13-16, Stand #A4.134. Samples and production quantities are available now through RFMD's online store or through local RFMD sales channels. Datasheets can be obtained via RFMD's website at www.rfmd.com or by contacting RFMD at 336-664-1233.
time heals all on this one!
I'm afraid RFMD has me at the moment. ;)
ok jen.. go get'm kiddo!
RF Micro Devices(R) to Accelerate Growth in Entry-Level Smartphone Segment Through Acquisition of Amalfi Semiconductor
RF Micro Devices, Inc.(Nasdaq:RFMD), a global leader in the design and manufacture of high-performance radio frequency components, announced today a definitive agreement to acquire Amalfi Semiconductor (Amalfi), a leading fabless semiconductor company specializing in cost effective, high performance RF and mixed-signal ICs for the rapidly growing entry-level smartphone market.
RFMD intends to significantly accelerate the market adoption of Amalfi's RF CMOS and mixed-signal ICs by combining Amalfi's targeted product portfolio and proprietary RF CMOS and mixed-signal expertise with RFMD's deep customer relationships, broad product portfolio, extensive in-house manufacturing scale, and robust global supply chain.
Bob Bruggeworth, president and CEO of RFMD, said, "The acquisition of Amalfi is consistent with RFMD's strategy of matching the most appropriate process technology to each customer's performance and cost requirements. Amalfi's proprietary RF and mixed-signal expertise in RF CMOS are a great fit for RFMD and a strong addition to our long-term technology strategy. RFMD gives Amalfi the global presence, market credibility, manufacturing scale, and blue--chip customer access to take their business to the next phase of growth."
Mark Foley, CEO and president of Amalfi, said, "The addition of Amalfi's RF CMOS PA technology with RFMD's market leadership and significant resources is a powerful combination. We expect the acquisition will accelerate the delivery of new disruptive RF CMOS power amplifiers to the cost-driven entry-level smartphone market. We are excited to be part of the RFMD team."
Under the terms of the agreement, RFMD will acquire Amalfi with cash on hand for total consideration of approximately $47.5 million, net of cash received. RFMD expects to achieve immediate product and cost synergies and anticipates the transaction will be accretive to RFMD's P&L within two quarters.
Good luck Fib!
I hope it all works out for you (and me... because I'm selfish! ;)
Best wishes!
Jen
lol....OK...willdo !
The entry point I recommend for you is the one you decide to pick. :)
Since I already own RFMD (yawn!) I'm looking at an area to add at.
I tend to follow gaps if they appear while I am building a position.
So Gap fill is at...
Open Gaps
Direction Date range
up Oct-24-2012 4 to 4.22
and I always pull those numbers from Stock Tech as they use highs and lows like I do. Some people use close vs open when looking at gaps.
http://www.stockta.com/cgi-bin/analysis.pl?symb=RFMD&num1=1&cobrand=&mode=stock
hare structure SEEMS ok? U say what?
So what enrtry pt. do u recommend?
Or we could fill the gap first. Why leave something to haunt us later?
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RF Micro Devices, Inc. (Nasdaq:RFMD) is a global leader in the design and manufacture of high-performance radio frequency
components and compound semiconductor technologies. RFMD's products enable worldwide mobility, provide enhanced connectivity
and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband
and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise
and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.
Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001-certified manufacturer with worldwide engineering, design, sales
and service facilities.
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