George Soros Reveals 5% Stake In RF Micro Devices
Feb 26th, 2008 by Shaun Carter
RF Micro Devices, a stock I wrote about as a good buy about a month ago, has seen investment interest from a fund controlled by George Soros. The fund has announced a 5.15 percent stake in RF Micro today. It is unclear when the shares were accumulated and at what price, but it is certain that the purchase established a passive position in the company with no active participation expected from Soros.
RF Micro was up nearly 7% today on the news, closing at 3.55 per share. I was picking up more shares of RF Micro this past week just above $3 per share and continue to see this stock to be worth 5-10 per share in 12 months, especially now that Soros has shown interest in it. I will be interested to see if Soros’ fund makes any sort of announcement about their reasoning for the purchase.
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