over 30m shares short. could be interesting..
Ahead of the Bell: RF Micro Devices Up
Friday May 25, 9:13 am ET
RF Micro Devices Gains After Upgrade on Prediction of Improved Second-Half Demand
NEW YORK (AP) -- Shares of RF Micro Devices Inc., which makes radio frequency components used in mobile devices, rose in premarket electronic trading Friday after an analyst upgraded the company's stock, saying demand should improve in the second half of the year.
Jefferies & Co. analyst John Lau boosted his rating to "Buy" from "Hold," and raised his target price to $9 per share from $7, suggesting the stock will gain nearly 50 percent in the next year. He expects the company's designs to impress customers at the Computex computer show in Taiwan, which will be held in early June.
"We believe the improving fundamentals for RF Micro Devices will become evident as many people will discuss their business trends there," he said. The company will also be helped by improving its sales to Samsung Group, he added.
Shares of Greensboro, N.C.-based RF Micro Devices picked up 27 cents, or 4.4 percent, to $6.43 premarket, up from a closing price of $6.16 Thursday. The stock is up more than 9 percent in 2007. |
