RF Micro Devices (Nasdaq: RFMD) is expected to report Q1 earnings on July 23. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict RF Micro Devices's revenues will grow 42.1% and EPS will increase 600.0%.

The average estimate for revenue is $288.0 million. On the bottom line, the average EPS estimate is $0.07.

Revenue details
 Last quarter, RF Micro Devices reported revenue of $280.6 million. GAAP reported sales were 49% higher than the prior-year quarter's $187.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.06. GAAP EPS were -$0.06 for Q4 versus -$0.05 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 32.6%, 250 basis points better than the prior-year quarter. Operating margin was 2.4%, 900 basis points better than the prior-year quarter. Net margin was -5.7%, 120 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.21 billion. The average EPS estimate is $0.39.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 705 members out of 749 rating the stock outperform, and 44 members rating it underperform. Among 112 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 106 give RF Micro Devices a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RF Micro Devices is outperform, with an average price target of $6.28.

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