Enviado: 28/10/2005 15:19ja nem os 5 aguentam com resultados tão bons?????
Os 4.5$ ja estão muito perto ....
Os 4.5$ ja estão muito perto ....
CALDEIRÃO DE BOLSA
Fórum dedicado à discussão sobre os Mercados Financeiros - Bolsas de Valores
http://teste.caldeiraodebolsa.jornaldenegocios.pt/
A possível galinha dos ovos de ouro - RFMD
http://teste.caldeiraodebolsa.jornaldenegocios.pt/viewtopic.php?f=3&t=42575
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Enviado: 28/10/2005 15:19Pois é AC ...
Enviado: 28/10/2005 15:16... a galinha dos ovos de ouro apanhou uma verdadeira gripe das aves ...
Bah! Ganharam os pessimistas...
Enviado: 27/10/2005 2:58...fora com esses terroristas!!! 
De facto, apesar de tudo parecer tão azul e cor-de-rosa ontem, o cenário hoje vestiu-se de vermelho sanguíneo... a pôr à prova todo o meu auto-domínio!!!
Segundo o que vou entendendo do Fibonacci - ancora io non capisco bene l'italiano
- e numa perspectiva de curto prazo (subida recente dos 5,02 aos 5,85), a RFMD rompeu em baixa a MM 200 que se situava precisamente em cima dos 0,50 (5,44) e também não reagiu nos 0,618 (5,32). Apenas encontrou algum suporte significativo na zona dos 5,20 que corresponde à retracção mais funda dos 0,778. Pouco auspicioso, como se vê...
Enfim, veremos se tem alguma contra-reacção amanhã, a exemplo do que já sucedeu com outras acções num cenário idêntico, vide a Apple, que subiu quase 10 dólares... 20%
desde o débacle da sessão posterior à apresentação de óptimos resultados! Logo, que a RFMD lhe siga o exemplo... que ainda vai a tempo! 
Ou lá se vai o sustento...
Rui leprechaun
(...do gnomito sem tento!
)
PS: Well... since it's only money, we can still laugh quite merrily!!!
And hope for better times... sure!!!
De facto, apesar de tudo parecer tão azul e cor-de-rosa ontem, o cenário hoje vestiu-se de vermelho sanguíneo... a pôr à prova todo o meu auto-domínio!!!
Segundo o que vou entendendo do Fibonacci - ancora io non capisco bene l'italiano
- e numa perspectiva de curto prazo (subida recente dos 5,02 aos 5,85), a RFMD rompeu em baixa a MM 200 que se situava precisamente em cima dos 0,50 (5,44) e também não reagiu nos 0,618 (5,32). Apenas encontrou algum suporte significativo na zona dos 5,20 que corresponde à retracção mais funda dos 0,778. Pouco auspicioso, como se vê...
Enfim, veremos se tem alguma contra-reacção amanhã, a exemplo do que já sucedeu com outras acções num cenário idêntico, vide a Apple, que subiu quase 10 dólares... 20%
desde o débacle da sessão posterior à apresentação de óptimos resultados! Logo, que a RFMD lhe siga o exemplo... que ainda vai a tempo!
Ou lá se vai o sustento...
Rui leprechaun
(...do gnomito sem tento!
)
PS: Well... since it's only money, we can still laugh quite merrily!!!
And hope for better times... sure!!!
Enviado: 26/10/2005 21:04Com descidas destas penso que os shorts continuem com razão..
E espero que tenhas stop-loss inseridas no sistema
Para já vejo suporte nos 5.20 e nos 5 Dólares
Não vejo razões para sair de qualquer curto.. colocar stop de protecção e deixar os lucros correrem...
E espero que tenhas stop-loss inseridas no sistema
Para já vejo suporte nos 5.20 e nos 5 Dólares
Não vejo razões para sair de qualquer curto.. colocar stop de protecção e deixar os lucros correrem...
Actualização ........
Enviado: 26/10/2005 20:17os 5.20 podem ter algum suporte.
Para consultarem o meu comentário pessoal desta acção após resultados, consultem o meu blog.
Para consultarem o meu comentário pessoal desta acção após resultados, consultem o meu blog.
gripe das aves
Enviado: 26/10/2005 17:08Desculpem lá o à parte,
mas parece que com isto da gripe das aves não é muito aconselhável investir em galinhas, mesmo que dêem ovos de ouro. Vou antes investir em empresas tipo "cash cow"
mas parece que com isto da gripe das aves não é muito aconselhável investir em galinhas, mesmo que dêem ovos de ouro. Vou antes investir em empresas tipo "cash cow"
ehehehehe
Enviado: 26/10/2005 15:39AC deves ter enganado ao falar em stop loss, o stop loss deve ser para a tuas posições longas é que não pára de fazer minimos ...., e nem os máximos de ontem quebraram ..., ainda bem que os resultados não podiam ser melhores porque senão fossem imagina....
Re: Talvez, ó Ertai... ormai! ;-)
Enviado: 25/10/2005 23:29leprechaun Escreveu:Ó Ertai!
Estou intrigado com essa do lucro considerável, a não ser que a tenhas vendido logo na abertura, acima dos 5,80. E, uma vez que ainda a tens em carteira, não vejo como 20 cêntimos possam ser assim um lucro tão considerável, pelo menos em percentagem, claro. Isto já sem contar que no after-hours estava, ainda há pouco, praticamente de novo nos 5,80 logo...
Para mim uma descida de 3% já é "lucro considerável".
Tudo depende do tamanho da posição claro
Mas nem é o meu caso... mais porque o sector tecnológico está bastante positivo e a RFMD desde 2ªfeira que tem estado em contraciclo, o que é um mau sinal...
Quanto ao After logo se vê, se abrir no presente valor apenas fica ao preço a que as vendi, e claro que tenho um stop no sistema.
Não tenho o hábito de ir deixando o mercado ir contra as minhas posições algumas dezenas de pontos % como vi algumas pessoas o fazer.
Sem dúvida que qualquer fecho acima dos 6 Dólares é seriamente Bullish para este título, mas neste momento o aspecto técnico aponta para um simples downswing...
Se chegar a 6 Dólares não só estarei fora do meu pequeno Short como provavelmente a entrar longo
Abraço
Talvez, ó Ertai... ormai! ;-)
Enviado: 25/10/2005 23:15Ertai Escreveu:RFMD tem sido uma das empresas no topo da minha Short List.
Desde ontem que já vai a dar um lucro considerável
Apenas vejo razões para ignorar os resultados e seguir o swing descendente que estamos a ver agora no curtíssimo prazo.
Ó Ertai!
Estou intrigado com essa do lucro considerável, a não ser que a tenhas vendido logo na abertura, acima dos 5,80. E, uma vez que ainda a tens em carteira, não vejo como 20 cêntimos possam ser assim um lucro tão considerável, pelo menos em percentagem, claro. Isto já sem contar que no after-hours estava, ainda há pouco, praticamente de novo nos 5,80 logo...
Por outro lado, o short interest da RFMD não tem variado muito nos últimos meses. O rácio de cobertura é cerca de 2,5 dias segundo os últimos dados, já de Setembro.
Já agora, a mim o que me desagrada mais é o inside selling, que me faz sempre torcer o nariz. Pois, mas só me lembrei de o ir espreitar já depois de a comprar...
Acerca desse swing descendente, ia justamente escrever na mensagem anterior que o mínimo de hoje foi efectuado um pouco abaixo dos 38,2% da subida 5,02-5,85 e que a MA(200) está justamente nos 50% desse intervalo - 5,44.
Logo, é possível que a RFMD ainda recue até aí, mas não me parece crível que tal possa suceder sem primeiro ir visitar a MA(50) nos 5,89 que é mesmo o meu target mínimo de venda.
De qualquer modo, creio que o ideal é observar amanhã a pré-abertura e colocar a ordem de venda - da totalidade ou só metade da posição, na altura verei - logo na abertura, que é quando muitas vezes se faz o máximo do dia e em especial após earnings e as chamadas "boas notícias".
Logo, que faças o teu lucro depois de eu a vender, no problem! Mas não penso regressar tão cedo à RFMD. Já fiz 3 trades positivos nela e parece-me que há outros "cavalos de corrida" mais ligeiros prestes a partir à desfilada! Isto, pelo menos, quando o Nasdaq resolver arrancar de vez, o que até pode já acontecer muito em breve. Enfim, veremos...
...what will be will be...
Rui leprechaun
(...and we are here to see!
)
PS: 5,80 neste momento, já com mais de 300 mil... parece-me que a malta gostou... e comprou!!!
Ertai e fig.........
Enviado: 25/10/2005 23:03se eu estivesse curto como voçês, a primerira coisa que fazia amanhã era pôr uma stop loss no sistema, caso contrário esse vosso lucro pode passar a prejuizo num ápice.
Enviado: 25/10/2005 22:40RFMD têm sido uma das empresas no topo da minha Short List.
Desde ontem que já vai a dar um lucro considerável
Apenas vejo razões para ignorar os resultados e seguir o swing descendente que estamos a ver agora no curtíssimo prazo. Cumps
Desde ontem que já vai a dar um lucro considerável
Apenas vejo razões para ignorar os resultados e seguir o swing descendente que estamos a ver agora no curtíssimo prazo. Cumps
Enviado: 25/10/2005 22:37Esperemos por ela nos abaixo dos 4.5$ , aí o fuutro devrá estar mais risonho...., o que eles vão dizer também pouco interessa
, aí o fuutro devrá estar mais risonho...., o que eles vão dizer também pouco interessa Tudo depende do prazo, ó Fig! ;-)
Enviado: 25/10/2005 22:26fig Escreveu:Com os resultados tão bons só não percebo porque não passa dos 6 no after e nem amanhã , e pelo contrário vai cair
É óbvio que influenciam, ainda que tal possa não se reflectir de imediato no curto prazo. De qualquer modo, essa avaliação só poderá ser feita após a Earnings Call, que está a decorrer neste momento, e onde irão por certo ser esmiuçados mais em pormenor os resultados da RFMD.
Aliás, a subida já tinha começado antes, com o profit warning positivo do dia 11 de Outubro, logo é bem possível que a recente subida da cotação já reflectisse estes resultados. Por outro lado, a guidance para o próximo trimestre foi muito positiva e a RFMD deve beneficiar ainda com os "earnings" acima da média de outras empresas das quais é fornecedora, vide Motorola, por exemplo.
Em conclusão: o curto prazo é incerto mas o médio afigura-se-me mais luminoso!
Ainda assim, os meus objectivos mantêm-se: venda nos 0,50 de Fibonacci (6,02), se possível, ou pelo menos na zona da MA(50), nos 5,89 hoje. De notar a reacção positiva à MA(200) (5,44) durante a sessão, com subida imediata até ao fecho nos 5,60 após o mínimo a 5,48.
Logo, ao que vejo estamos positivos, e o gráfico dos 3 meses abaixo também parece demonstrar isso.
Quanto ao resto... time will tell!
And in the end all is well...
Rui leprechaun
(...either they climb or fell!
)
PS: 5,75 é a última cotação no after-hours com um volume razoável de quase 300 mil. Logo, tudo normal... é baril!
Resta saber... o que o povo vai fazer! :-)
Enviado: 25/10/2005 22:01Já vi que te antecipaste, ó AC! Ainda assim, vou pôr aqui o link para o desenvolvimento mais completo da notícia:
http://biz.yahoo.com/prnews/051025/nytu214.html?.v=9
Para já, sobe 20 cêntimos no after-hours, e com bom volume. Nice! Mas e amanhã, como será?
Objectivamente, os resultados são bons. Passar de perdas para lucros é sempre salutar, claro. E a antevisão futura também se afigura positiva. Resta ainda saber como vai decorrer a Earnings Call, que começa dentro de poucos minutos e, mais importante ainda, de que modo os investidores irão reagir a todos estes números depois de os terem digerido. É que o "sell on the news" também existe, you know!
De qualquer forma, mesmo que a RFMD até caia eventualmente nos próximos dias, os presentes resultados devem suportar uma recuperação no mínimo até aos 50% de Fibonacci, ou seja, algo acima dos 6$. Esse target satisfaz-me plenamente, ainda que eu só venda metade da minha posição, consoante vir qual é a evolução da cotação.
Por outro lado, se o Nasdaq arrancar para uma sucessão de dias positivos, o cenário natural que ainda espero, é óbvio que tal deverá beneficiar as acções que o integram, de um modo geral. E com os fundamentais a melhorar, a RFMD deverá sentir em breve esse vento favorável... assim o espero!
E amanhã, já saberemos...
Rui leprechaun
(...com que linhas/chips! nos cosemos!)
PS: Já agora, eis o link para o after-hours:
http://quotes.nasdaq.com/quote.dll?mode ... ected=rfmd
http://biz.yahoo.com/prnews/051025/nytu214.html?.v=9
Para já, sobe 20 cêntimos no after-hours, e com bom volume. Nice! Mas e amanhã, como será?
Objectivamente, os resultados são bons. Passar de perdas para lucros é sempre salutar, claro. E a antevisão futura também se afigura positiva. Resta ainda saber como vai decorrer a Earnings Call, que começa dentro de poucos minutos e, mais importante ainda, de que modo os investidores irão reagir a todos estes números depois de os terem digerido. É que o "sell on the news" também existe, you know!
De qualquer forma, mesmo que a RFMD até caia eventualmente nos próximos dias, os presentes resultados devem suportar uma recuperação no mínimo até aos 50% de Fibonacci, ou seja, algo acima dos 6$. Esse target satisfaz-me plenamente, ainda que eu só venda metade da minha posição, consoante vir qual é a evolução da cotação.
Por outro lado, se o Nasdaq arrancar para uma sucessão de dias positivos, o cenário natural que ainda espero, é óbvio que tal deverá beneficiar as acções que o integram, de um modo geral. E com os fundamentais a melhorar, a RFMD deverá sentir em breve esse vento favorável... assim o espero!
E amanhã, já saberemos...
Rui leprechaun
(...com que linhas/chips! nos cosemos!
)
PS: Já agora, eis o link para o after-hours:
http://quotes.nasdaq.com/quote.dll?mode ... ected=rfmd
Enviado: 25/10/2005 21:53" melhor não podia ser"....., mais valiam ser maus e que ela subisse...
Com os resultados tão bons só não percebo porque não passa dos 6 no after e nem amanhã , e pelo contrário vai cair ....., ainda há quem acredite que os resultados das empresas influênciam as cotações dos títulos..... 
Com os resultados tão bons só não percebo porque não passa dos 6 no after e nem amanhã , e pelo contrário vai cair
....., ainda há quem acredite que os resultados das empresas influênciam as cotações dos títulos..... Resultados e guidance ........
Enviado: 25/10/2005 21:27acima das expectativas !!!!
RF Micro Devices Achieves Record Second Quarter Revenue and Provides Record Quarterly Revenue Guidance
Tuesday October 25, 4:00 pm ET
Quarterly Highlights:
* Record Second Quarter Revenue Of $177.0 Million
* Record Sales Of POLARIS(TM) TOTAL RADIO(TM) Solutions Exceed 10% Of Quarterly Revenue
* Record Sales Of Bluetooth(R) Products Grow Approximately 50%
* September Per Share Results Total $0.03 On A GAAP Basis And $0.04 On A Pro Forma Basis
* RFMD Currently Expects December Quarterly Revenue Will Increase Sequentially 16% - 20%, Representing Record Quarterly Revenue Of $205 Million To $212 Million
* RFMD Currently Expects December Quarterly Earnings Per Share To Be $0.05 -- $0.06 On A GAAP Basis And Approximately $0.07 On A Pro Forma Basis
GREENSBORO, N.C., Oct. 25 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. (Nasdaq: RFMD - News), a leading provider of proprietary radio frequency integrated circuits (RFICs) for wireless communications applications, today reported financial results for its fiscal 2006 second quarter ended September 30, 2005.
Financial Results
Revenue for the quarter was $177.0 million, an increase of 18.7% versus revenue of $149.1 million for the corresponding quarter of fiscal 2005, and a sequential increase of 11.1% versus revenue of $159.4 million for the prior quarter ended June 30, 2005. The increase in quarterly revenue reflected cellular market share gains and strength in the handset industry, driven mainly by tier-one handset manufacturers.
Gross profit for the quarter was $63.7 million, an increase of 29.9% versus $49.1 million for the prior year period, and a sequential increase of approximately 17.4% from $54.3 million for the quarter ended June 30, 2005. Gross profit margin was 36.0%, versus 32.9% in the corresponding quarter of fiscal 2005 and 34.1% for the prior quarter ended June 30, 2005. The year- over-year increase in gross profit margin was primarily attributable to increased volumes and higher final test yields, offset in part by expenses attributable to several aggressive new product ramps.
Net income calculated in accordance with U.S. generally accepted accounting principles (GAAP) for the quarter ended September 30, 2005 was $5.9 million, or $0.03 per diluted share, compared with a GAAP net loss of ($6.7) million, or ($0.04) per diluted share, for the quarter ended September 30, 2004. This compares sequentially to a GAAP net loss of ($2.7) million, or ($0.01) per diluted share, for the prior quarter ended June 30, 2005.
In addition to reporting net income (loss) and net income (loss) per share in accordance with GAAP, RFMD separately reports these items on a non-GAAP basis, referred to as pro forma, in order to exclude the effect of certain non-recurring, non-cash and unusual items. For the purposes of this press release, all references to pro forma results reflect non-GAAP financial information. In the quarter ended September 30, 2005, pro forma results excluded an aggregate of approximately $2.6 million in non-cash expenses related to amortization of deferred stock-based compensation, the effect of variable accounting associated with the Company's option exchange program and amortization of transaction-related intangibles, and $0.2 million related to the discontinuation of the Company's WLAN chipset development efforts. A reconciliation of the Company's GAAP financial results to pro forma financial results is provided in the financial statement portion of this release.
After excluding these items, pro forma net income for the quarter ended September 30, 2005 was $8.7 million, or $0.04 per diluted share. This compares with pro forma net loss of ($3.0) million, or ($0.02) per diluted share, for the quarter ended September 30, 2004, and pro forma net income of $2.8 million, or $0.01 per diluted share, for the prior quarter ended June 30, 2005.
In the quarter ended September 30, 2004, pro forma results excluded approximately $3.6 million in non-cash expenses related primarily to the amortization of deferred stock-based compensation and the amortization of transaction-related intangibles. In the prior quarter ended June 30, 2005, pro forma results excluded approximately $1.4 million in non-cash expenses related to amortization of deferred stock-based compensation and amortization of transaction-related intangibles, a $0.9 million credit related to the discontinuation of the Company's internal WLAN chipset development efforts and a previously reported $5.0 million cash payment to a top-tier customer due to production delays related to the Company's POLARIS(TM) TOTAL RADIO(TM) Module.
RF Micro Devices believes pro forma reporting provides useful supplemental information to the investment community and facilitates a better understanding of its results of operations. RF Micro Devices has chosen to provide this supplemental information to investors to enable them to perform additional comparisons of operating results and as a means to analyze its financial performance without the impact of certain non-cash expenses or unusual items that may obscure trends in the Company's underlying performance. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.
Business Outlook And Financial Guidance
RF Micro Devices believes the handset market is strong and expects demand for handsets will grow in the December quarter. Additionally, the Company believes it is taking share in the markets for cellular power amplifiers and cellular transceivers.
RF Micro Devices currently expects revenue in the range of $205 million to $212 million in the December 2005 quarter, representing sequential growth of approximately 16% to 20%. Additionally, the Company currently anticipates quarterly GAAP net income in the range of $0.05 to $0.06 per share, assuming no impact of variable accounting associated with the recent option exchange program, which is difficult to predict because it is dependent on the change in the Company's stock price during the quarter. Quarterly pro forma net income is currently projected to be approximately $0.07 per share.
Comments From Management
Bob Bruggeworth, president and CEO of RF Micro Devices, said, "During the September quarter, we experienced record order activity, driven by increased demand for our power amplifiers, POLARIS(TM) TOTAL RADIO(TM) transceiver chipsets and Bluetooth® products. We believe we increased our global leadership in the power amplifier market in the September quarter, and we expect to expand our global leadership in the December quarter through shipments of our transmit modules to multiple tier-one customers.
"In the transceiver market, shipments of our POLARIS(TM) TOTAL RADIO(TM) cellular transceivers increased for the fifth consecutive quarter, and POLARIS transceiver chipset shipments exceeded ten percent of revenue for the first time in Company history. Based on backlog and customer forecasts from multiple customers, we currently expect sequential growth in December of both our POLARIS 2 and POLARIS(TM) TOTAL RADIO(TM) Module solutions. We expect to achieve record revenue in the December quarter, as market share gains and new product cycles translate into incremental semiconductor content in next- generation wireless devices. Beyond the December quarter, we currently expect our POLARIS family of products will continue to grow sequentially in the March quarter, positioning RFMD to partially offset typical handset seasonality."
Dean Priddy, CFO and vice president of administration, said, "Our strategy of increasing dollar content within the handset is working, as demonstrated by 11% sequential revenue growth in the September quarter and 16% - 20% projected sequential revenue growth in the December quarter. Gross profit increased 17% sequentially in the September quarter, and we returned to profitability on a GAAP basis. December quarterly net income is expected to approximately double over the September quarter, even after considering the effect of an estimated 12 percentage-point increase in our effective tax rate."
RF Micro Devices will conduct a conference call at 5:00 p.m. ET today to discuss today's press release. The conference call will be broadcast live over the Internet and can be accessed by any interested party at www.earnings.com or www.rfmd.com (under Investor Info). The call will also be available live by dialing 480-248-5081, and a replay will be available by dialing (303) 590-3000 and entering pass code 11041687.
Melhor não podia ser !!!!
RF Micro Devices Achieves Record Second Quarter Revenue and Provides Record Quarterly Revenue Guidance
Tuesday October 25, 4:00 pm ET
Quarterly Highlights:
* Record Second Quarter Revenue Of $177.0 Million
* Record Sales Of POLARIS(TM) TOTAL RADIO(TM) Solutions Exceed 10% Of Quarterly Revenue
* Record Sales Of Bluetooth(R) Products Grow Approximately 50%
* September Per Share Results Total $0.03 On A GAAP Basis And $0.04 On A Pro Forma Basis
* RFMD Currently Expects December Quarterly Revenue Will Increase Sequentially 16% - 20%, Representing Record Quarterly Revenue Of $205 Million To $212 Million
* RFMD Currently Expects December Quarterly Earnings Per Share To Be $0.05 -- $0.06 On A GAAP Basis And Approximately $0.07 On A Pro Forma Basis
GREENSBORO, N.C., Oct. 25 /PRNewswire-FirstCall/ -- RF Micro Devices, Inc. (Nasdaq: RFMD - News), a leading provider of proprietary radio frequency integrated circuits (RFICs) for wireless communications applications, today reported financial results for its fiscal 2006 second quarter ended September 30, 2005.
Financial Results
Revenue for the quarter was $177.0 million, an increase of 18.7% versus revenue of $149.1 million for the corresponding quarter of fiscal 2005, and a sequential increase of 11.1% versus revenue of $159.4 million for the prior quarter ended June 30, 2005. The increase in quarterly revenue reflected cellular market share gains and strength in the handset industry, driven mainly by tier-one handset manufacturers.
Gross profit for the quarter was $63.7 million, an increase of 29.9% versus $49.1 million for the prior year period, and a sequential increase of approximately 17.4% from $54.3 million for the quarter ended June 30, 2005. Gross profit margin was 36.0%, versus 32.9% in the corresponding quarter of fiscal 2005 and 34.1% for the prior quarter ended June 30, 2005. The year- over-year increase in gross profit margin was primarily attributable to increased volumes and higher final test yields, offset in part by expenses attributable to several aggressive new product ramps.
Net income calculated in accordance with U.S. generally accepted accounting principles (GAAP) for the quarter ended September 30, 2005 was $5.9 million, or $0.03 per diluted share, compared with a GAAP net loss of ($6.7) million, or ($0.04) per diluted share, for the quarter ended September 30, 2004. This compares sequentially to a GAAP net loss of ($2.7) million, or ($0.01) per diluted share, for the prior quarter ended June 30, 2005.
In addition to reporting net income (loss) and net income (loss) per share in accordance with GAAP, RFMD separately reports these items on a non-GAAP basis, referred to as pro forma, in order to exclude the effect of certain non-recurring, non-cash and unusual items. For the purposes of this press release, all references to pro forma results reflect non-GAAP financial information. In the quarter ended September 30, 2005, pro forma results excluded an aggregate of approximately $2.6 million in non-cash expenses related to amortization of deferred stock-based compensation, the effect of variable accounting associated with the Company's option exchange program and amortization of transaction-related intangibles, and $0.2 million related to the discontinuation of the Company's WLAN chipset development efforts. A reconciliation of the Company's GAAP financial results to pro forma financial results is provided in the financial statement portion of this release.
After excluding these items, pro forma net income for the quarter ended September 30, 2005 was $8.7 million, or $0.04 per diluted share. This compares with pro forma net loss of ($3.0) million, or ($0.02) per diluted share, for the quarter ended September 30, 2004, and pro forma net income of $2.8 million, or $0.01 per diluted share, for the prior quarter ended June 30, 2005.
In the quarter ended September 30, 2004, pro forma results excluded approximately $3.6 million in non-cash expenses related primarily to the amortization of deferred stock-based compensation and the amortization of transaction-related intangibles. In the prior quarter ended June 30, 2005, pro forma results excluded approximately $1.4 million in non-cash expenses related to amortization of deferred stock-based compensation and amortization of transaction-related intangibles, a $0.9 million credit related to the discontinuation of the Company's internal WLAN chipset development efforts and a previously reported $5.0 million cash payment to a top-tier customer due to production delays related to the Company's POLARIS(TM) TOTAL RADIO(TM) Module.
RF Micro Devices believes pro forma reporting provides useful supplemental information to the investment community and facilitates a better understanding of its results of operations. RF Micro Devices has chosen to provide this supplemental information to investors to enable them to perform additional comparisons of operating results and as a means to analyze its financial performance without the impact of certain non-cash expenses or unusual items that may obscure trends in the Company's underlying performance. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.
Business Outlook And Financial Guidance
RF Micro Devices believes the handset market is strong and expects demand for handsets will grow in the December quarter. Additionally, the Company believes it is taking share in the markets for cellular power amplifiers and cellular transceivers.
RF Micro Devices currently expects revenue in the range of $205 million to $212 million in the December 2005 quarter, representing sequential growth of approximately 16% to 20%. Additionally, the Company currently anticipates quarterly GAAP net income in the range of $0.05 to $0.06 per share, assuming no impact of variable accounting associated with the recent option exchange program, which is difficult to predict because it is dependent on the change in the Company's stock price during the quarter. Quarterly pro forma net income is currently projected to be approximately $0.07 per share.
Comments From Management
Bob Bruggeworth, president and CEO of RF Micro Devices, said, "During the September quarter, we experienced record order activity, driven by increased demand for our power amplifiers, POLARIS(TM) TOTAL RADIO(TM) transceiver chipsets and Bluetooth® products. We believe we increased our global leadership in the power amplifier market in the September quarter, and we expect to expand our global leadership in the December quarter through shipments of our transmit modules to multiple tier-one customers.
"In the transceiver market, shipments of our POLARIS(TM) TOTAL RADIO(TM) cellular transceivers increased for the fifth consecutive quarter, and POLARIS transceiver chipset shipments exceeded ten percent of revenue for the first time in Company history. Based on backlog and customer forecasts from multiple customers, we currently expect sequential growth in December of both our POLARIS 2 and POLARIS(TM) TOTAL RADIO(TM) Module solutions. We expect to achieve record revenue in the December quarter, as market share gains and new product cycles translate into incremental semiconductor content in next- generation wireless devices. Beyond the December quarter, we currently expect our POLARIS family of products will continue to grow sequentially in the March quarter, positioning RFMD to partially offset typical handset seasonality."
Dean Priddy, CFO and vice president of administration, said, "Our strategy of increasing dollar content within the handset is working, as demonstrated by 11% sequential revenue growth in the September quarter and 16% - 20% projected sequential revenue growth in the December quarter. Gross profit increased 17% sequentially in the September quarter, and we returned to profitability on a GAAP basis. December quarterly net income is expected to approximately double over the September quarter, even after considering the effect of an estimated 12 percentage-point increase in our effective tax rate."
RF Micro Devices will conduct a conference call at 5:00 p.m. ET today to discuss today's press release. The conference call will be broadcast live over the Internet and can be accessed by any interested party at www.earnings.com or www.rfmd.com (under Investor Info). The call will also be available live by dialing 480-248-5081, and a replay will be available by dialing (303) 590-3000 and entering pass code 11041687.
Melhor não podia ser !!!!
Força relativa da RFMD hoje...
Enviado: 19/10/2005 1:52AC Escreveu:problema é que normalmente essa teoria funciona ao contrário vê os casos da AAPL, JNPR, GOOG, etc....
Nem sempre a venda de activos por parte dos CEO's significa descrédito futuro, por vezes é uma forma clara de abrir as portas ao peixe graúdo......
Hmm... pois será como dizes, mas contento-me com uma subida até aos 6... repito!
O certo é que, após ter feito o mínimo do presente downtrend nos 5,02 no dia 12, a RFMD inverteu a tendência - confirmada com um sinal positivo no MACD diário - erguendo 4 velas brancas seguidas, e já se está a avizinhar dos 5,80 (38,2%). Espero que lá chegue já amanhã e aí verei se é de vender ou não. É que há também a considerar a necessidade de liquidez para outras apostas, se bem que, no que concerne às acções, só vale mesmo apostar nelas se os índices confirmarem a tendência positiva. Ora isso para já continua muito incerto...
Mas agora estou vidrado no "forex"... via warrants... e a subida do dólar até me parece muito garantida! Em conclusão, planeio vender no mínimo metade da minha posição algures no intervalo 5,80-6,00 esperando que a RFMD tenha forças para lá chegar, óbvio! De notar que a MA(50) se situa nos 5,92 o que parece um target razoável no curto prazo.
Pot fim, os valores de suporte, pivot e resistência para amanhã são, respectivamente: 5,38 - 5,57 - 5,76
Logo, tudo se conjuga, esperemos que o Nasdaq e companhia não nos estraguem a festa!
E será que é desta...
Rui leprechaun
(...que ela sobe mui lesta?
)
PS: De referir ainda que os super resultados da Motorola são muito benéficos para a RFMD, que é fornecedora privilegiada de alguns componentes... cellular transceiver chips... creio que é isso!
Pq ???
Enviado: 18/10/2005 23:23Pq Castelbranco?
Agradecia que me pudesses explicar o teu comentário!
Desde já agradecido!
Caixa de Micro
Agradecia que me pudesses explicar o teu comentário!
Desde já agradecido!
Caixa de Micro
Enviado: 18/10/2005 23:19podes agradecer ao banco por não ter deixado comprar as acções
Pois ... o Totta n me deixou!!!
Enviado: 18/10/2005 22:57Hoje tentei adquirir acções da RFMD e o Totta não me deixou! Nasdaq ... só 1º mercado ... é óbvio que fiquei "lixado" 
... tinha capital para entrar a 5.48 (1000) só que o site do Banco dava-me sempre erro ... e depois fechou a 5.61 ... já vi que n posso comprar por ali! Alguém me sugere uma correctora/banco onde eu possa ter acesso a todos os mercados???
Alguém me diz como se colocam os stop-loss no site do Millennium BCP???
Muchas Gracias
Caixa de Micro
... tinha capital para entrar a 5.48 (1000) só que o site do Banco dava-me sempre erro ... e depois fechou a 5.61 ... já vi que n posso comprar por ali! Alguém me sugere uma correctora/banco onde eu possa ter acesso a todos os mercados???
Alguém me diz como se colocam os stop-loss no site do Millennium BCP???
Muchas Gracias
Caixa de Micro
pois o ..............
Enviado: 17/10/2005 19:31problema é que normalmente essa teoria funciona ao contrário vê os casos da AAPL, JNPR, GOOG, etc....
Nem sempre a venda de activos por parte dos CEO's significa descrédito futuro, por vezes é uma forma clara de abrir as portas ao peixe graúdo......
Nem sempre a venda de activos por parte dos CEO's significa descrédito futuro, por vezes é uma forma clara de abrir as portas ao peixe graúdo......
Subida com os insiders a vender?!
Enviado: 16/10/2005 21:07Pois é, ó AC, só hoje é que reparei nesta realidade perturbadora...
http://www.secform4.com/insider/showhis ... ymbol=rfmd
E repara que as últimas vendas aconteceram ainda esta semana, na terça-feira, e a preços muito baixos (5,20-5,22).
Eu tenho negociado algumas vezes a RFMD nos últimos dois meses, mas perante esta realidade creio que vou optar por uma saída definitiva, aproveitando a subida do Nasdaq e caso a acção se aproxime dos 6$.
Penso substituí-la no meu portfólio por 2 acções mais especulativas e com forte volatilidade - CPST e VTSS - que, ao contrário da RFMD, têm tido compras recentes dos insiders e a preços superiores aos actuais, o que me parece um bom sinal.
Já agora, aplicando o Fibonacci a esse gráfico, a RFMD fez um retrocesso exacto de 61,8% nos 5,02 da grande subida desde o mínimo de 3,77 até ao máximo de 7,06. Assim, considerando essa correcção - 7,06-5,02 - os targets para a subida seriam os 5,80 (38,2%) ou 6,04 (50%) ou 6,28 (61,8%). Isto no caso da acção não conseguir superar a antiga marca, claro.
Pela minha parte, contento-em com os 50%, que até poderão ser já atingidos esta semana, caso o Nasdaq suba bem e a MA(200) seja definitivamente superada. Acredito neste cenário, mas não vou esperar muito mais, há galgos mais velozes que se perfilham para o fortíssimo rally que se avizinha!
All on board...
Rui leprechaun
(...and raise your sword!)
http://www.secform4.com/insider/showhis ... ymbol=rfmd
E repara que as últimas vendas aconteceram ainda esta semana, na terça-feira, e a preços muito baixos (5,20-5,22).
Eu tenho negociado algumas vezes a RFMD nos últimos dois meses, mas perante esta realidade creio que vou optar por uma saída definitiva, aproveitando a subida do Nasdaq e caso a acção se aproxime dos 6$.
Penso substituí-la no meu portfólio por 2 acções mais especulativas e com forte volatilidade - CPST e VTSS - que, ao contrário da RFMD, têm tido compras recentes dos insiders e a preços superiores aos actuais, o que me parece um bom sinal.
Já agora, aplicando o Fibonacci a esse gráfico, a RFMD fez um retrocesso exacto de 61,8% nos 5,02 da grande subida desde o mínimo de 3,77 até ao máximo de 7,06. Assim, considerando essa correcção - 7,06-5,02 - os targets para a subida seriam os 5,80 (38,2%) ou 6,04 (50%) ou 6,28 (61,8%). Isto no caso da acção não conseguir superar a antiga marca, claro.
Pela minha parte, contento-em com os 50%, que até poderão ser já atingidos esta semana, caso o Nasdaq suba bem e a MA(200) seja definitivamente superada. Acredito neste cenário, mas não vou esperar muito mais, há galgos mais velozes que se perfilham para o fortíssimo rally que se avizinha!
All on board...
Rui leprechaun
(...and raise your sword!
)a subida está pode
Enviado: 16/10/2005 12:42estar prestes acontecer............
"RF Micro Shares Seen With 40% Upside To Market
Shawn Slayton of SG Cowen continues to recommend purchase of RF Micro Devices (nasdaq: RFMD - news - people ) following the recent positive third-quarter preannouncement.
RF Micro now anticipates third-quarter calendar 2005 earnings of 4 cents per share (one penny above prior consensus, and in line with SG Cowen's model) on revenue of about $177 million, driven by accelerating front-end module and transceiver sales at customers such as Nokia (nyse: NOK - news - people ) and Motorola (nyse: MOT - news - people ).
Slayton thinks RF Micro is also taking share in the power amplifier marketplace, particularly from Skyworks Solutions (nasdaq: SWKS - news - people ).
He consequently raised fiscal 2006 estimates for RF Micro to earnings of 12 cents per share on revenue of $709.4 million, up from earnings of 11 cents per share on revenue of $701.4 million.
"With the backdrop of robust GSM handset sales worldwide (particularly in lower-end phones), we think RF Micro stock offers an extremely attractive risk/reward profile at current share levels, and we see 40%-plus upside relative to the market over the next 12 months," said Slayton."
"RF Micro Shares Seen With 40% Upside To Market
Shawn Slayton of SG Cowen continues to recommend purchase of RF Micro Devices (nasdaq: RFMD - news - people ) following the recent positive third-quarter preannouncement.
RF Micro now anticipates third-quarter calendar 2005 earnings of 4 cents per share (one penny above prior consensus, and in line with SG Cowen's model) on revenue of about $177 million, driven by accelerating front-end module and transceiver sales at customers such as Nokia (nyse: NOK - news - people ) and Motorola (nyse: MOT - news - people ).
Slayton thinks RF Micro is also taking share in the power amplifier marketplace, particularly from Skyworks Solutions (nasdaq: SWKS - news - people ).
He consequently raised fiscal 2006 estimates for RF Micro to earnings of 12 cents per share on revenue of $709.4 million, up from earnings of 11 cents per share on revenue of $701.4 million.
"With the backdrop of robust GSM handset sales worldwide (particularly in lower-end phones), we think RF Micro stock offers an extremely attractive risk/reward profile at current share levels, and we see 40%-plus upside relative to the market over the next 12 months," said Slayton."
Enviado: 11/10/2005 16:09RFMD Announces Record September Quarterly Revenue
GREENSBORO, N.C., Oct 11, 2005 (BUSINESS WIRE) --
RF Micro Devices, Inc. (NASDAQ: RFMD), a leading
provider of proprietary radio frequency integrated circuits (RFICs)
for wireless communications applications, today announced that its
September 2005 quarterly revenue will exceed its original guidance,
which was provided on July 26, 2005.
Based upon its preliminary assessment of its financial results, RF
Micro Devices announced its September 2005 quarterly revenue will be
approximately $177 million, which exceeds its original guidance for
revenue in the low- to mid-$170 million range. RFMD attributes its
record September quarterly revenue to both sequential growth and
market share gains in the markets for cellular power amplifiers and
cellular transceivers. During the September quarter, RFMD's
POLARIS(TM) TOTAL RADIO(TM) cellular transceiver chipsets grew
sequentially in revenue and unit volume and represented more than 10%
of quarterly revenue for the first time in Company history.
Bob Bruggeworth, president and CEO of RFMD, said "We achieved
record revenue for the September quarter, and we entered the December
quarter with record backlog. We currently expect sequential revenue
growth in the December quarter from power amplifiers, transceivers and
Bluetooth(R) products. We believe our markets remain healthy, and
we're benefiting from the strong overall handset market, new product
ramps and market share gains. Of note, our transceiver chipset
business represented more than 10% of our revenue in the September
quarter and is currently expected to increase significantly in the
December quarter. Additionally, we anticipate RFMD will become the
world's leading manufacturer of Front-End Modules (FEMs) in the
December quarter. Share gains in transceivers and FEMs are allowing
RFMD to capture increasing dollar content in the handset market."
RF Micro Devices will formally announce its September 2005
quarterly results and provide more detailed December 2005 quarterly
guidance on October 25, 2005 at 4:00 p.m. Eastern Time. The Company's
October 25 quarterly conference call will be broadcast live over the
Internet and can be accessed by any interested party at
http://www.earnings.com or by going to http://www.rfmd.com and
clicking on "Investor Info." The conference call will also be
available by dialing (480) 248-5081. A replay of the conference call
will be available by dialing (303) 590-3000 and entering pass code
11041687.
About RFMD
RF Micro Devices, Inc., an ISO 9001- and ISO 14001-certified
manufacturer, designs, develops, manufactures and markets proprietary
radio frequency integrated circuits (RFICs) for wireless
communications products and applications. The Company is a leading
supplier of power amplifiers, one of the most critical radio frequency
(RF) components in cellular phones. The Company is also the leading
manufacturer of GaAs HBT, which offers distinct advantages over other
technologies for the manufacture of current- and next-generation power
amplifiers. The Company's products are included primarily in cellular
phones, base stations, wireless local area networks (WLANs), cable
television modems and global positioning systems (GPS). The Company
derives revenue from the sale of standard and custom-designed
products. The Company offers a broad array of products including
amplifiers, mixers, modulators/demodulators and single-chip
transmitters, Bluetooth(R) products and receivers and transceivers
that represent a substantial majority of the RFICs required in
wireless subscriber equipment. The Company's goal is to be the premier
supplier of low-cost, high-performance integrated circuits and
solutions for applications that enable wireless connectivity. RF Micro
Devices, Inc. is traded on the Nasdaq National Market under the symbol
RFMD. For more information about RFMD, please visit www.rfmd.com.
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements about our plans,
objectives, representations and contentions and are not historical
facts and typically are identified by use of terms such as "may,"
"will," "should," "could," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "potential," "continue" and similar words,
although some forward-looking statements are expressed differently.
You should be aware that the forward-looking statements included
herein represent management's current judgment and expectations, but
our actual results, events and performance could differ materially
from those expressed or implied by forward-looking statements. We do
not intend to update any of these forward-looking statements or
publicly announce the results of any revisions to these
forward-looking statements, other than as is required under the
federal securities laws. RF Micro Devices' business is subject to
numerous risks and uncertainties, including variability in quarterly
operating results, the rate of growth and development of wireless
markets, risks associated with the operation of our wafer fabrication
facilities, molecular beam epitaxy facility, our assembly facility
and our test, tape and reel facilities, our ability to attract and
retain skilled personnel and develop leaders, variability in
production yields, our ability to reduce costs and improve gross
margins by implementing innovative technologies, our ability to bring
new products to market, our ability to adjust production capacity in a
timely fashion in response to changes in demand for our products,
dependence on a limited number of customers and dependence on third
parties. These and other risks and uncertainties, which are described
in more detail in RF Micro Devices' most recent Annual Report on Form
10-K filed with the Securities and Exchange Commission, could cause
actual results and developments to be materially different from those
expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES(R) and RFMD(R) are trademarks of RFMD, LLC.
BLUETOOTH is a trademark owned by Bluetooth SIG, Inc., U.S.A. and
licensed for use by RF Micro Devices, Inc. All other trade names,
trademarks and registered trademarks are the property of their
respective owners.
SOURCE: RF Micro Devices, Inc.
RF Micro Devices, Inc.
Dean Priddy or Doug DeLieto, 336-664-1233
Copyright Business Wire 2005
GREENSBORO, N.C., Oct 11, 2005 (BUSINESS WIRE) --
RF Micro Devices, Inc. (NASDAQ: RFMD), a leading
provider of proprietary radio frequency integrated circuits (RFICs)
for wireless communications applications, today announced that its
September 2005 quarterly revenue will exceed its original guidance,
which was provided on July 26, 2005.
Based upon its preliminary assessment of its financial results, RF
Micro Devices announced its September 2005 quarterly revenue will be
approximately $177 million, which exceeds its original guidance for
revenue in the low- to mid-$170 million range. RFMD attributes its
record September quarterly revenue to both sequential growth and
market share gains in the markets for cellular power amplifiers and
cellular transceivers. During the September quarter, RFMD's
POLARIS(TM) TOTAL RADIO(TM) cellular transceiver chipsets grew
sequentially in revenue and unit volume and represented more than 10%
of quarterly revenue for the first time in Company history.
Bob Bruggeworth, president and CEO of RFMD, said "We achieved
record revenue for the September quarter, and we entered the December
quarter with record backlog. We currently expect sequential revenue
growth in the December quarter from power amplifiers, transceivers and
Bluetooth(R) products. We believe our markets remain healthy, and
we're benefiting from the strong overall handset market, new product
ramps and market share gains. Of note, our transceiver chipset
business represented more than 10% of our revenue in the September
quarter and is currently expected to increase significantly in the
December quarter. Additionally, we anticipate RFMD will become the
world's leading manufacturer of Front-End Modules (FEMs) in the
December quarter. Share gains in transceivers and FEMs are allowing
RFMD to capture increasing dollar content in the handset market."
RF Micro Devices will formally announce its September 2005
quarterly results and provide more detailed December 2005 quarterly
guidance on October 25, 2005 at 4:00 p.m. Eastern Time. The Company's
October 25 quarterly conference call will be broadcast live over the
Internet and can be accessed by any interested party at
http://www.earnings.com or by going to http://www.rfmd.com and
clicking on "Investor Info." The conference call will also be
available by dialing (480) 248-5081. A replay of the conference call
will be available by dialing (303) 590-3000 and entering pass code
11041687.
About RFMD
RF Micro Devices, Inc., an ISO 9001- and ISO 14001-certified
manufacturer, designs, develops, manufactures and markets proprietary
radio frequency integrated circuits (RFICs) for wireless
communications products and applications. The Company is a leading
supplier of power amplifiers, one of the most critical radio frequency
(RF) components in cellular phones. The Company is also the leading
manufacturer of GaAs HBT, which offers distinct advantages over other
technologies for the manufacture of current- and next-generation power
amplifiers. The Company's products are included primarily in cellular
phones, base stations, wireless local area networks (WLANs), cable
television modems and global positioning systems (GPS). The Company
derives revenue from the sale of standard and custom-designed
products. The Company offers a broad array of products including
amplifiers, mixers, modulators/demodulators and single-chip
transmitters, Bluetooth(R) products and receivers and transceivers
that represent a substantial majority of the RFICs required in
wireless subscriber equipment. The Company's goal is to be the premier
supplier of low-cost, high-performance integrated circuits and
solutions for applications that enable wireless connectivity. RF Micro
Devices, Inc. is traded on the Nasdaq National Market under the symbol
RFMD. For more information about RFMD, please visit www.rfmd.com.
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, but are not limited to, statements about our plans,
objectives, representations and contentions and are not historical
facts and typically are identified by use of terms such as "may,"
"will," "should," "could," "expect," "plan," "anticipate," "believe,"
"estimate," "predict," "potential," "continue" and similar words,
although some forward-looking statements are expressed differently.
You should be aware that the forward-looking statements included
herein represent management's current judgment and expectations, but
our actual results, events and performance could differ materially
from those expressed or implied by forward-looking statements. We do
not intend to update any of these forward-looking statements or
publicly announce the results of any revisions to these
forward-looking statements, other than as is required under the
federal securities laws. RF Micro Devices' business is subject to
numerous risks and uncertainties, including variability in quarterly
operating results, the rate of growth and development of wireless
markets, risks associated with the operation of our wafer fabrication
facilities, molecular beam epitaxy facility, our assembly facility
and our test, tape and reel facilities, our ability to attract and
retain skilled personnel and develop leaders, variability in
production yields, our ability to reduce costs and improve gross
margins by implementing innovative technologies, our ability to bring
new products to market, our ability to adjust production capacity in a
timely fashion in response to changes in demand for our products,
dependence on a limited number of customers and dependence on third
parties. These and other risks and uncertainties, which are described
in more detail in RF Micro Devices' most recent Annual Report on Form
10-K filed with the Securities and Exchange Commission, could cause
actual results and developments to be materially different from those
expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES(R) and RFMD(R) are trademarks of RFMD, LLC.
BLUETOOTH is a trademark owned by Bluetooth SIG, Inc., U.S.A. and
licensed for use by RF Micro Devices, Inc. All other trade names,
trademarks and registered trademarks are the property of their
respective owners.
SOURCE: RF Micro Devices, Inc.
RF Micro Devices, Inc.
Dean Priddy or Doug DeLieto, 336-664-1233
Copyright Business Wire 2005
Mais um...............
Enviado: 8/9/2005 22:22RF Micro Boosted By Outlook For Motorola Handset Sales
Piper Jaffray maintained an "outperform" rating and raised its price target to $8 from $7 on RF Micro Devices (nasdaq: RFMD - news - people ) due to an improving outlook for sales of Motorola (nyse: MOT - news - people ) handsets
The firm's monthly channel checks indicated strong sell-through trends of the Motorola V.551 phone, which uses RF Micro Devices' Polaris 2, a chipset of radio-frequency integrated circuits, or RFICs. RF Micro Devices shipped 3 million Polaris units last quarter. Piper Jaffray expects continued solid sales of Motorola's V.551, PEBL and SLVR phones and consequent growth in RF Micro devices' Polaris shipments during the second half of 2005.
Piper Jaffray believes that rapidly growing volumes of low-end phones in emerging markets such as India could also drive solid growth for RF Micro Devices.
Although new product launches and increases in capacity may impact near-term margins, Piper Jaffray says RF Micro Devices is on track to improve its gross-margin structure and believes these improvements could leverage earnings in the second half of 2005 and 2006. It estimates that calendar 2006 earnings per share will grow to 23 cents from and estimated 2 cents in calendar 2005. Piper Jaffray expects calendar 2006 revenue to grow to $754.9 million from an estimated $674.2 million in 2005.
"We believe RF Micro Devices is well positioned to expand into other handset components over the next few years through its strong product development and customer relationships with handset original equipment manufacturers," said the firm.
Piper Jaffray maintained an "outperform" rating and raised its price target to $8 from $7 on RF Micro Devices (nasdaq: RFMD - news - people ) due to an improving outlook for sales of Motorola (nyse: MOT - news - people ) handsets
The firm's monthly channel checks indicated strong sell-through trends of the Motorola V.551 phone, which uses RF Micro Devices' Polaris 2, a chipset of radio-frequency integrated circuits, or RFICs. RF Micro Devices shipped 3 million Polaris units last quarter. Piper Jaffray expects continued solid sales of Motorola's V.551, PEBL and SLVR phones and consequent growth in RF Micro devices' Polaris shipments during the second half of 2005.
Piper Jaffray believes that rapidly growing volumes of low-end phones in emerging markets such as India could also drive solid growth for RF Micro Devices.
Although new product launches and increases in capacity may impact near-term margins, Piper Jaffray says RF Micro Devices is on track to improve its gross-margin structure and believes these improvements could leverage earnings in the second half of 2005 and 2006. It estimates that calendar 2006 earnings per share will grow to 23 cents from and estimated 2 cents in calendar 2005. Piper Jaffray expects calendar 2006 revenue to grow to $754.9 million from an estimated $674.2 million in 2005.
"We believe RF Micro Devices is well positioned to expand into other handset components over the next few years through its strong product development and customer relationships with handset original equipment manufacturers," said the firm.