RFMD - Look likes a good bargain
RF Micro Devices is one of the stocks that I recommend you to put in your watchlist after company had started its share buy back program. On Tuesday it was announced to the market that RF Micro Devices has bought back about 10 percent of its outstanding shares under a $150 million buy-back program authorized by its board of directors. That reduces the total number of RF Micro shares outstanding by about 10 percent to 262 million shares. Finally, we start to see an action from company to support stock, it seems there is no better time than now to start buying the stock based on this news. Stock had a big drop since the beginning of the year losing more than a half of its capitalization, so at this level the potential movement to the upside is very likely based on the fundamentals of the company. In my point of view, current stock price look likes a good bargain.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice weekend !!!
AC
Labels: RFMD
