Sterne Agee Comments On RF Micro Devices Revenues

According to Sterne Agee, RF Micro Devices (NASDAQ: RFMD) new 3G PowerSmart winds position well.

Sterne Agee reported that RFMD had guided F4Q11(Mar) to revenues of $212-226M in late January. “But at a competitor conference in early March, RFMD guided March quarter to the low end of prior guidance. Current March quarter consensus is for $220M/$0.08 and would need to come down to the $212M topline. RFMD's March quarter was affected, we believe, by weakness at Nokia (NOK, $8.66, Not Rated) and Mediatek (2454.TW, 320, Not Rated). We believe the RFMD story continues to be on track with new higher margin Products shipping and gaining share in 3G. The new Samsung Galaxy S2 Wave phones are expected to launch in May in the U.S. and other Emerging geographies.”

RF Micro Devices closed yesterday at $5.88.