RF Micro Shares Fall as Barclays Cuts to Equalweight, Lowers Target to $5

Shares of RF Micro Devices RFMD are trading down more than 4 percent Monday afternoon as Barclays' Blayne Curtis downgraded the stock from Overweight to Equalweight earlier before the market opened. The analyst reduced his price target on RF Micro from $7 to $5. Curtis warned of some headline risk from competition in the RF segment, specifically mentioning QUALCOMM's QCOM RF360 products. He also pointed to concerns of a continued correction related to Samsung's low- and mid-range smartphones. Elsewhere in the sector, Curtis reduced his price target on shares of Skyworks Solutions SWKS from $24 to $20. With shares of RF Micro trading down to $5.30 at last check, the Barclays analyst's lowered target represents further potential downside of about 5 percent.