Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

JP Morgan Lowers RF Micro to 'Market Perform'


JP Morgan downgraded RF Micro Devices (RFMD) to market perform from buy.

Analyst Ed Snyder downgraded as he says the company's end market is not likely to grow sequentially into the second quarter. He notes order pushouts for PA modules leads to a $10 million revenue shortfall. He also says the company didn't say which customer pushed out orders, but based on size and part characteristics, he thinks it is Nokia, which accounts for 50%-55% of revenue. Snyder also thinks RF Micro's new product introduction delays at Nokia, rather than a large downturn in handset demand, is the reason for order pushout. Snyder cut his $0.18 fiscal 2003 (March) EPS estimate to $0.06, and cut the $0.30 fiscal 2004 estimate to $0.17.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus