NEW YORK (TheStreet) -- RF Micro Devices (RFMD) shares are climbing, up 3.5% to $10.18, on Tuesday after the radio frequency solutions provider announced that the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 in reference to its previously announced merger with TriQuint Semiconductor (TQNT) had expired with no action taken by the Federal Trade Commission or the Department of Justice.
The HSR Act stipulates that parties looking to merge cannot do so until they have made a detailed filing with regulators at the FTC and Justice Department who have a set period of time to file objections to the merger if they have any.
TriQuint shares are also rising, up 2.6% to $16.84 today.
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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 compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we find that the company's revenue growth has not been good."