RF Micro: D.A. Davidson Upgrades To Buy Rating

RF Micro Devices (RFMD) has received a boost today from D.A. Davidson analyst Aalok Shah , who raised his rating on the wireless chip stock to Buy from Neutral, with a price target of $4, up from $3. The stock closed yesterday at $2.87. Shah says there are “inventory fill ins” taking place throughout the wireless sector, with particular strength at suppliers to Nokia (NOK) . He notes that RFMD is the top power amplifer supplier to NOK. Shah upped his EPS estimate for the March 2010 fiscal year to 14 cents, from 6 cents. For FY 2011, he goes to 26 cents, from 16 cents. RFMD is up 12 cents, or 4.2%, to $2.99. (link)