TriQuint Semiconductor (TQNT) has been initiated today with coverage from the research analysts at UBS. UBS begins this new coverage of TriQuint Semiconductor with an initial price target set at $11 dollars and rates performance of TQNT as “neutral.” UBS noted that TriQuint Semiconductor has managed to assert itself as a leading supplier of RF components for smartphones. Due to TriQuint’s wide-ranging technology and manufacturing expertise, they expect TriQuint to be a leading fixture among RF suppliers in the future.
Praise is not without an ounce of pessimism, however, as UBS also noted that ongoing legal concern with Avago and capacity issues could have TQNT range in the near future.
TQNT entered trading today nearly where it left off during the close of Thursday’s trading session. While today shares of the company closed down it was not a large loss, did not manage to trend beneath the daily range of Wednesday’s session, either. Consolidation has taken over for now, much like it did between June 20th through the 28th.
TriQuint Semiconductor is slated to release their next earnings report on July 28th, 2011, and is estimated to post EPS of 17 cents. Their last earnings report was released on April 27th, 2011, and announced EPS of 15 cents with revenue totaling $224 million which was up 24.1% year to year. TQNT is currently trading below its 50 & 200-day moving averages and 2011 is a down year for the company.
TriQuint Semiconductor provides innovative radio frequency solutions and foundry services for devices and networks that carry voice, data and video. The company has market capitalization of $1,663,508,080 and 164,216,000 shares outstanding. TQNT has a 52-week high of $15.20 with the low being $5.77 dollars.
