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RFMD

RF Micro Devices, Inc.

5/22/2013, 6:33 AM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 17, 11:27 AM Galaxy S4 sales will top 10M next week (less than a month after launching), says Samsung (SSNLF.PK) co-CEO Shin Jong-kyun. The Galaxy S III took 50 days to crack 10M. Samsung thinks S4 sales could eventually reach 100M, or twice the 50M the S III has seen over its lifetime. Suppliers with decent exposure: RFMD, ANAD, PANL, QCOM, BRCM, SYNA. 3 Comments [Tech]
Monday, April 29, 12:59 PM As goes Apple, so goes Cirrus Logic (CRUS +7.1%). The audio codec chipmaker is taking off in sympathy with the customer than made up 85% of its March quarter revenue, one trading day after getting clocked due to downbeat remarks about FY14 sales. Likewise, iPhone/Galaxy S4 supplier Skyworks (SWKS +3.4%) is rallying following a post-earnings Friday decline caused by mixed guidance, and so is rival RF Micro (RFMD +3.2%). Broadcom (BRCM +2.5%), meanwhile, is adding to last week's strong post-earnings gains, fueled by a Q1 beat and solid guidance. The gains come even as another Apple supplier, Nam Tai, gets crushed due to weak guidance. Comment! [Tech, On the Move]
Thursday, April 25, 12:18 PM Low expectations are aiding iPhone supplier TriQuint (TQNT +10.7%), which is surging after missing Q1 estimates and guiding for Q2 revenue of $185M-$190M and EPS of -$0.10 to -$0.12, below a consensus of $194.8M and -$0.08. On its earnings call, TriQuint noted mobile sales (57% of total) fell 30% Q/Q thanks to "seasonally low demand from our largest customer" (almost certainly Apple), but added sales to all other top-5 mobile clients grew, and claimed strong demand for advanced 4G power amplifiers and filters. Possibly up in sympathy: SWKS +2.7%. RFMD +1.6%. CRUS +3%.10.1% of TriQuint's float was shorted as of March 28. Comment! [Tech, Earnings, On the Move]
Wednesday, April 24, 1:31 PM Samsung's (SSNLF.PK) Galaxy S IV is a superb phone, if one can cope with a cheap plastic feel and too many gimmicks. That seems to be the consensus from the first full reviews. The Verge praises the S IV's display, camera, and performance, but still considers the HTC One a better bet. "The Galaxy S4 is fast and impressive, but it's also noisy and complex." TechCrunch and Gizmodo deliver similar takes. But others (I, II) make the case that more is ultimately better (this mindset has worked for Samsung thus far). The reviews arrive as Sprint and T-Mobile state their S IV launches will be delayed due to inventory issues. Key suppliers: QCOM, BRCM, SYNA, PANL, ATML, RFMD, TQNT. (previous) 23 Comments [Tech]
Tuesday, April 23, 5:22 PM Tech guidance roundup: 1) Juniper (JNPR) expects Q2 revenue of $1.07B-$1.1B and EPS of $0.22-$0.26, below a consensus of $1.11B and $0.27. Enterprise IT weakness blamed, telecom healthy. 2) Cree (CREE) expects FQ4 revenue of $365M-$385M and EPS of $0.34-$0.40 vs. a consensus of $367.6M and $0.37. Gross margin expected to be ~39.5%, up from FQ3s 38.8%. 3)RF Micro (RFMD) expects FQ1 revenue of $285M-$290M and EPS of $0.07-$0.08, largely above a consensus of $265.8M and $0.07. JNPR -6.4% AH. CREE -7.3%. RFMD -3.3%. (Juniper PR) (Cree PR) (RF Micro PR) Comment! [Tech, Earnings, On the Move]
Tuesday, April 23, 4:08 PM RF Micro Device (RFMD): FQ4 EPS of $0.06 beats by $0.01. Revenue of $280.6M (+49% Y/Y) beats by $28.49M. Shares -0.9% AH. (PR) 1 Comment [Earnings, Breaking News, Tech]
Tuesday, April 23, 12:10 AM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Monday, April 22, 5:54 PM After-hours top gainers, as of 5:15 p.m.: VECO +9%. SWFT +6%. ILMN +4%. WIT +4%. QCCO +3%.
After-hours top losers: BEAT -11%. RCII -6%. HOV -5%. RFMD -5%. REGI -4%. 1 Comment [On the Move]
Monday, April 22, 5:35 PM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Wednesday, April 17, 12:26 PM Chip stocks have a rough day (SOXX -2.8%) following Cirrus Logic's warning, light guidance from Linear Technology (LLTC -4.6%) to go with a Q1 beat - Linear sees 1%-4% Q/Q revenue growth for calendar Q2, below a 4.7% consensus - and ho-hum Q1 results/Q2 guidance from Intel. Apple suppliers Broadcom (BRCM -4%), Avago (AVGO -5.5%), STMicroelectronics (STM -6.7%), NXP (NXPI -7%), RF Micro (RFMD -2.8%), and OmniVision (OVTI -3.3%) are among the casualties, but they're far from alone. ANAD -6.2%. STM -5.7%. FSL -5%. ADI -4.5%. TXN -4.4%. Comment! [Tech, On the Move]
Monday, April 1, 9:41 AM An upgrade to Buy from Canaccord leads RF Micro (RFMD +1.9%) to make fresh 52-week highs. The firm, which now has a $7 PT, cites the potential for 4G LTE share gains. Shares rallied last week on an Oppenheimer upgrade. Comment! [Tech]
Tuesday, March 26, 6:12 PM Peregrine Semi (PSMI) files a fresh lawsuit against RF Micro (RFMD) in a Southern California district court. Peregrine alleges certain RF Micro products infringe a newly-issued Peregrine patent covering the use of silicon-on-insulator substrates to make RF chips. The new suit comes on top of one filed in a U.S. district court in Feb. '12, and 5 months after Peregrine withdrew an ITC suit against RF Micro. RBC estimates Peregrine's IP battles are costing it $5M-$7M/year. 1 Comment [Tech]
Tuesday, March 26, 9:53 AM "Sustained content increases look likely, including at top customers Samsung and Apple ... RFMD appears well positioned to capitalize on expanding RF complexity with its 'systems-level' approach." writes Oppenheimer's Rick Schafer, explaining his upgrade of RF Micro (RFMD +8.2%). He's raising his estimates on account of the chipmaker's Galaxy S IV design wins and high-end tuner/RF switch opportunities. Shares are close to their 52-week high. Skyworks (SWKS +2.1%) and Anadigics (ANAD +3.1%) appear to be rallying in sympathy. Comment! [Tech, On the Move, Quick Ideas]
Tuesday, March 26, 8:04 AM RF Micro (RFMD) gets an upgrade to Outperform from Perform at Oppenheimer. Price target set at $7 representing nearly 30% upside from Monday's close. Comment! [Tech]
Monday, March 18, 2:07 PM Qualcomm (QCOM) and RF Micro (RFMD) are "the biggest content share gainers" within Samsung's Galaxy S IV, thinks Brean Capital after going over chip data (I, II). The firm notes RF Micro is seeing higher dollar content on Qualcomm platforms, and that Qualcomm's lead in supporting 4G carrier aggregation (now considered a must-have by some carriers) is bolstering its dominant 4G baseband chip position. Separately, Wedge Partners observes Sony (SNE) is the likely supplier of the S IV's 13MP image sensor, but thinks OmniVision (OVTI) will benefit as Samsung's rivals try to keep pace. Comment! [Tech]
Friday, March 15, 12:29 PM Samsung's Galaxy S IV contains several RF Micro (RFMD +5.2%) components, RF Micro effectively brags in an PR that's lifting shares. Though RF Micro doesn't mention the S IV by name, the fact the PR (which follows yesterday's S IV launch) states the chips - a 3G/4G power amplifier, multiple standalone 4G amplifiers, and an antenna control chip - will go into a "recently-announced fourth-generation flagship smartphone platform" from a leading manufacturer leaves little doubt as to what's being discussed. Skyworks (SWKS -1.5%), an important S III supplier (and perhaps an S IV supplier as well), is lower. 2 Comments [Tech]

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