RF Micro Devices, Inc. (RFMD)

[eastunder]

DA Davidson Downgrades RF Micro Devices (RFMD) to Neutral; Cutting Estimates After Pre-Announcement

January 6, 2012 10:46 AM EST

DA Davidson downgraded RF Micro Devices (NASDAQ: RFMD) from Buy to Neutral, price target cut from $7 to $5.

DA analyst said, "We hate to shoot first and ask questions later but RFMD leaves us in a predicament. We believe the company has made good strides with Powersmart and Phenom but, until we get clarity around the margins, we are sitting this out. We are reducing our estimates for FY’12 and FY’13 and lowering our price target."

DA lowers FY12 EPS estimate from $0.38 to $0.26 and FY13 from $0.47 to $0.37.