NEW YORK (TheStreet) -- Shares of RF Micro Devices  (RFMD) rose 4.93% to $11.60 in afternoon trading Wednesday, ahead of the company's scheduled second-quarter earnings report after the market close. Here's what analysts are expecting from the high-performance radio frequency systems manufacturer:

The consensus estimate calls for RF Micro Devices to report earnings of 27 cents a share on revenue of $346.22 million. In the second quarter last year, RF Micro Devices posted earnings of 12 cents a share, which edged the consensus estimate of 10 cents a share. Revenue totaled $310.72 million, which beat analysts' estimate of $308.23 million.

In the first quarter of 2014, RF Micro Devices reported earnings of 24 cents a share, which surpassed the consensus estimate of 17 cents a share. Revenue totaled $316.32 million, which handily beat analysts' expectations of $305.71 million.

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TheStreet Recommends

Separately, TheStreet Ratings team rates RF MICRO DEVICES INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate RF MICRO DEVICES INC (RFMD) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • RF MICRO DEVICES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, RF MICRO DEVICES INC turned its bottom line around by earning $0.05 versus -$0.20 in the prior year. This year, the market expects an improvement in earnings ($1.02 versus $0.05).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 2375.8% when compared to the same quarter one year prior, rising from $1.56 million to $38.65 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 17.7%. Since the same quarter one year prior, revenues slightly increased by 8.0%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Net operating cash flow has significantly increased by 400.63% to $36.26 million when compared to the same quarter last year. In addition, RF MICRO DEVICES INC has also vastly surpassed the industry average cash flow growth rate of -81.10%.
  • The gross profit margin for RF MICRO DEVICES INC is rather high; currently it is at 50.92%. It has increased significantly from the same period last year. Despite the strong results of the gross profit margin, RFMD's net profit margin of 12.21% significantly trails the industry average.
  • You can view the full analysis from the report here: RFMD Ratings Report

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