RF Micro Devices, Inc. (RFMD)

This met a high level screen to indicate a sell and strong underperform against its peers (other tickers in its industry). My 1st version of this spreadsheet devles deep into the company's balance sheet and recent income statements, combined with other relevant price data for the company including insider/institutional holdings, short interest, debt levels, etc.
I'm testing capabilities of this 1st version of my automated, valuation spreadsheet matched with my personal criteria and see how it holds up.

This a market game changer announcement guys:

RFMD(R) Announces Major Gallium Nitride (GaN) Milestones
RFMD Qualifies and Releases First GaN Device

8:00 am EST, Wednesday November 11, 2009

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Companies:
o Rf Micro Devices Inc.

Shipments of RF3931 Unmatched Power Transistors Commence to Multiple
High Power Amplifier (HPA) Manufacturers

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RFMD 4.47 +0.30
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GREENSBORO, N.C., Nov. 11, 2009 (GLOBE NEWSWIRE) -- RF Micro Devices, Inc. (Nasdaq:RFMD - News), a global leader in the design and manufacture of high-performance semiconductor components, today announced that RFMD(R) has qualified and released the RF3931, a 48-volt, 30-watt gallium nitride (GaN) unmatched transistor optimized for high power commercial and defense applications. The RF3931 is RFMD's first GaN product to achieve full product qualification, a process through which RF products are released by RFMD for mass production. Shipments of the RF3931 have commenced to multiple high power amplifier (HPA) manufacturers, and RFMD anticipates GaN shipments will increase significantly as new GaN products are introduced.

Bob Bruggeworth, president and CEO of RFMD, said, "We fully expect RFMD's GaN process technology will play a central role in our corporate mission to extend and leverage our leadership in RF components and compound semiconductor technologies into multiple industries. The unique physical properties of RFMD's GaN technology deliver performance that is unattainable by current competing technologies. Also, RFMD's GaN technology is manufactured in the same high-volume manufacturing facility as our industry-leading GaAs products, providing RFMD a measurable competitive advantage. Accordingly, we believe our GaN technology will become a disruptive technology across a broad range of commercial and defense markets."

Jeff Shealy, VP and general manager of RFMD's Defense and Power business unit, said, "We are very pleased to announce the full product qualification and shipments of RFMD's first GaN product. These achievements are major milestones for RFMD as we drive adoption of our GaN technology, increase our presence in the high-power RF market and satisfy our customers' increasing emphasis on 'green' technologies. RFMD's state-of-the-art GaN process technology delivers superior RF power per square millimeter and superior RF conversion efficiency, as compared to current semiconductor technologies."

The 30-watt RF3931 is part of a family of five RFMD GaN unmatched power transistors to be released for mass production over the next two quarters. Ranging from 10 watts to 120 watts, these wide bandwidth, unmatched power transistors enable the development of high-efficiency HPAs for a broad range of applications, including cellular and WiMAX infrastructure, CATV, military communications, public mobile radio, radar and radar jammers. In wireless and wireline applications, RFMD's unmatched power transistors enable "green" architectures that reduce energy costs and improve network efficiency for network operators.

About the RF3931

RFMD's RF3931 unmatched power transistor achieves high efficiency and flat gain over a broad frequency range in a single amplifier design. The RF3931 is packaged in a hermetic, flanged ceramic package providing excellent thermal stability through the use of advanced heat sink and power dissipation technologies.

About RFMD

RF Micro Devices, Inc. (Nasdaq:RFMD - News) is a global leader in the design and manufacture of high-performance semiconductor components. RFMD's products enable worldwide mobility, provide enhanced connectivity and support advanced functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), CATV/broadband and aerospace and defense markets. RFMD is recognized for its diverse portfolio of semiconductor technologies and RF systems expertise and is a preferred supplier to the world's leading mobile device, customer premises and communications equipment providers.

Headquartered in Greensboro, N.C., RFMD is an ISO 9001- and ISO 14001-certified manufacturer with worldwide engineering, design, sales and service facilities. RFMD is traded on the NASDAQ Global Select Market under the symbol RFMD. For more information, please visit RFMD's web site at www.rfmd.com.

The RF Micro Devices, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6436

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements included herein represent management's current judgment and expectations, but our actual results, events and performance could differ materially from those expressed or implied by forward-looking statements. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as is required under the federal securities laws. RF Micro Devices' business is subject to numerous risks and uncertainties, including risks associated with the recent worldwide economic turmoil and its effect on our business and the business of our suppliers and customers, variability in quarterly operating results, the impact of global macroeconomic and credit conditions on our business, the rate of growth and development of wireless markets, risks associated with the reduction or elimination of our investments in our wireless systems business, risks that restructuring charges may be greater and that the cost savings and other benefits from our restructurings may be lower than originally anticipated, risks associated with the operation of our wafer fabrication facilities, molecular beam epitaxy facility, assembly facility and test and tape and reel facilities, our ability to complete acquisitions and integrate acquired companies, including the risk that we may not realize expected synergies from our business combinations, our ability to attract and retain skilled personnel and develop leaders, variability in production yields, our ability to reduce costs and improve gross margins by implementing innovative technologies, our ability to bring new products to market, our ability to adjust production capacity in a timely fashion in response to changes in demand for our products, dependence on a limited number of customers, and dependence on third parties. These and other risks and uncertainties, which are described in more detail in RF Micro Devices' most recent Annual Report on Form 10-K and other reports and statements filed with the Securities and Exchange Commission, could cause actual results and developments to be materially different from those expressed or implied by any of these forward-looking statements.

RF MICRO DEVICES(R) and RFMD(R) are trademarks of RFMD, LLC. All other trade names, trademarks and registered trademarks are the property of their respective owners.

Contact:

RFMD(R)
Doug DeLieto, VP, Investor Relations
336-678-7088

Great stock with very positive potentials!!!

This is part of the mobile internet index that Cramer is touting I looked and figured what the hay its worth a shot to see if they grow they way he thinks they will. His thesis is that the mobile internet while be as big a game changer as the original internet was. Being a CTO I do not think it will be that big a movement but it will provide enough growth for his index to work just not be the huge bust out he thinks it will be. What your looking at is replacing every cell phone and laptop with a device that can connect to the internet at broadband speeds form just about anywhere in the US. The only problem I with his choice is that he left out HP and DELL and Lenovo the big laptop makers they will have a play and I am including them in my version of the index. It's been a flop so far but I have hopes.

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Wait and See.

I own this in real life. It is a favorite of the hedges to dark pool and use to put there puts in the money so when October rolls around, it give a great buying opportunity. Hand sets for Christmas.

Go with the flow

Revenue, gross margins, and cash flow increasing. Plenty of fab capacity to expand revenue as the economy turns around.

Good revenues, good products, good stock price.

Wireless internet play.

CAPS know better. Stick it Cramer!

i used to work for rfmd and i know how they operate.

As our need for advanced gadgets grow, we will definitely see this stock go up. Their components and knowledge will definitely make sure they are a key player in the fast growing tech future.

Smart phones aren't going anywhere anytime soon.

top products at the proper time with increasing cash flow.

Do you know of anyone who is using a cell phone that will not up grade to G3 and then G4 for faster download speed as voice and video communications continue to grow RFMD is used in every iPhone BlackBerry Nokia...all Manufacturers use RFMD components.

Maybe a long term stock 'gamble' as potentially the company is in good position with some strong customers. However, risky and dependent on future product development.

On June 29, 2009 at 11:37 PM, ipfmanager (99.04) wrote:

RFMD is a world leader in it's industry. This stock's all time high is roughly $85. I got in on this at $0.88 in January. Today the stock closed at $3.89. It has had a tremendous run-up and I've taken profits off the table many times, but I still think it has room to grow.

Since the dot-com bust this stock has traded in the $6-10 range while it was profitable. It has recently had a big slow-down in revenue with the poor economy, and more slow-downs as the 3g boom run it's course. Now this year, possibly this earnings quarter, it will return to profitable. Which tells me we should get back to roughly $4-6 in short order.

Not only that, but since the downturn the company has had many cost cutting efforts improving their bottom line by roughly 20%. $6-8 here we come....

Also, the industry average for this industry's P/E is 60 with a five year average of 110. RFMD's FP/E is currently 20 with a PEG of 1.9. With a profitable company and a normalized P/E, could we get to a price of $8-12? We're on our way....

And I know the PEG is high. That is actually another reason I LIKE it. here's why...

RFMD has a 5- year EPS growth of 12%. Are you kidding me? 4g is knocking on our door and China still has a 3g revolution ahead. There is no way that projection will stay there, I'd double or triple it, making the PEG (hopefully 0.8-ish). I know it's a pipe-dream but with all that said, lets hope the stocks price could run up to $15-$20 with everything blowing in the right direction.

Oh, and they make amps for cell/smart-phones. They used to have 1 amp per cell phone. Now they use 4 amps in blackberry's, maybe even 6 in the 4/5g phones. So they're basically increasing their sales by 400% while trimming their bottom line by 20%. That's 500% to the $20 stock? Let's try to hit another all time high of $100!

Even if way I'm way off which I know I am, we should beat the market on this one.

Also, take a look at their RFiD dept. too. Another money maker that I don't even want to get started on.

Here's the RFMD blurb on Reuters:

RF Micro Devices, Inc. (RFMD) designs and manufactures radio frequency (RF) components and compound semiconductors. The Company’s products provide connectivity and support functionality in the cellular handset, wireless infrastructure, wireless local area network (WLAN), cable television/broadband and aerospace, and defense markets. RFMD manufactures gallium arsenide (GaAs)-based compound semiconductors. It accesses silicon, silicon germanium (SiGe) and other technologies through various foundries. The Company operates two synergistic product groups: cellular products group (CPG) and multi-market products group (MPG), both of which focus on RF components with emphasis on compound semiconductor technology. During the fiscal year ended March 28, 2009 (fiscal 2009), the Company’s CPG supplied handset original equipment manufacturers (OEMs) and original design manufacturers (ODMs). On April 26, 2008, the Company completed the acquisition of Universal Microwave Corporation.