Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of communications-chip designer RF Micro Devices
So what: Last night's third-quarter report delivered on the bottom line but missed Wall Street's revenue targets, and it compounded the issue by setting expectations for next quarter below the average analyst view. It's not even an issue of disappointing growth -- sales are actually falling from quarter to the next amid weakening gross margins.
Now what: RFMD is getting out of a mountain of legacy products and a heavy reliance on largest customer Nokia
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