Why RF Micro Devices (RFMD) Stock Is Up Today

NEW YORK (TheStreet) -- RF Micro Devices (RFMD) was gaining 6.5% to $8.47 Thursday following Apple's (AAPL) second-quarter iPhone sales and TriQuint's (TQNT) positive first quarter.

In its second-quarter results Apple reported that it sold 43.7 million iPhones in the quarter. The sales numbers helped lift RF Micro as the company produces chips for the iPhone.

RF Micro will soon merge with TriQuint, which beat analysts' expectations for earnings and revenue in its first-quarter results, helping drive RF Micro stock price increase.

RF Micro will report its quarterly earnings on April 29.

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TheStreet Ratings team rates RF MICRO DEVICES INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate RF MICRO DEVICES INC (RFMD) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."

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