UPDATE: Oppenheimer Upgrades RF Micro Devices to Outperform, Opportunities and Positions Positive

Oppenheimer analyst Rick Schafer has published a research report on RF Micro Devices

that has upgraded the stock from Perform to Outperform with a $7.00 price target. In the report, Oppenheimer wrote, "We believe the company's checkered history of execution has helped skew risk/reward favorably. Management appears to have repositioned RFMD well, diversifying the company across products and customers. Sustained content increases look likely, including at top customers Samsung and Apple. Emerging high-end tuning/switching opportunities (and recent Galaxy S4 gains) are behind our increased estimates. RFMD appears well positioned to capitalize on expanding RF complexity with its "systems-level" approach." Shares of RF Micro Devices closed at $4.91 on Monday.