UPDATE: MKM Partners Initiates Coverage on RF Micro Devices, Inc.

In a note published Wednesday morning, MKM Partners analyst Ian Ing initiated coverage of RF Micro Devices, Inc. RFMD with a Buy rating and $15 price target.

Ing said RF Micro Devices is a beneficiary of the "golden age" of RF. Specifically, Ing is looking for the company to benefit from potential revenue synergies, an increased line of sight in smartphone opportunities and its exposure to the 4G market in China.

Looking to the company's risks, Ing commented, "The main risk we see is RFMD's ability to balance post-merger synergies with supply requirements in serving steep OEM ramps."

Looking to RF Micro's second quarter, Ing is predicting revenues of $344.6 million and an EPS of $0.27.