TMCnet News
Downgrade Alert for RF Micro Devices (RFMD)Feb 22, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- RF Micro Devices (NASDAQ:RFMD) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $4.61 on volume of 26.3 million shares, above average daily volume of 5.4 million. In the past 52 weeks, RF Micro Devices share prices have been bracketed by a low of $3.45 and a high of $7.89 and closed yesterday at $4.61, 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%. Potential upside of 38.3% exists for RF Micro Devices, based on a current level of $4.61 and analysts' average consensus price target of $6.38. RF Micro Devices shares should encounter resistance at the 50-day moving average (MA) of $4.83 and support at its 200-day MA of $4.20. RF Micro Devices, Inc. designs, develops, and markets proprietary radio frequency integrated circuits. The Company's products are used for wireless communications applications such as cellular and PCS, cordless telephony, wireless LANs, wireless local loop, industrial radios, wireless security and remote meter reading. SmarTrend recommended that subscribers consider buying shares of RF Micro Devices on October 24th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.46. Since that recommendation, shares of RF Micro Devices have risen 3.5%. We continue to monitor RFMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |