Why RF Micro Devices (RFMD) Stock Is Higher Today

NEW YORK (TheStreet) -- RF Micro Devices (RFMD) stock is moving higher on Wednesday after the chipmaker exceeded analysts' expectations in its March-ending quarter. 

By market open, shares had added 4.7% to $8.47.

In its first quarter, the company posted adjusted net income of 12 cents a share and revenue of $256 million. Both measures topped estimates of 9 cents a share in net income and $255.54 million in revenue. 

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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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