Shares of RF Micro Devices ( RFMD) jumped 6.4% after management said the cell-phone chip business seems to be on track -- a welcome bit of optimism following an earnings warning from cell-phone giant Nokia ( NOK) earlier this week.

Nokia accounted for nearly half of sales at RFMD in its most recent fiscal year.

RF Micro Chief Financial Officer Dean Priddy told Reuters he didn't "see any alarm signs that maybe some analysts are sounding," and reiterated a prior forecast that the June quarter will see a sequential sales rise.

Even before Priddy's comments, though, analysts were already expecting sales and earnings to increase in the June quarter.

According to Thomson First Call, RF Micro Devices is projected to post June quarter earnings of 6 cents, up from an anticipated March quarter profit of 4 cents. Sales are expected to rise to $171.9 million in the June quarter, up from $161.2 million for the quarter ending in March.

In afternoon trading RFMD gained 45 cents, to $8.72.