Analysts Remain on Sidelines as TriQuint (TQNT) Taken to Woodshed

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Shares of TriQuint Semiconductor (Nasdaq: TQNT) plunged 12 percent on the open today after the company's guidance disappointed investors. While the dirt cheap valuation may be appealing to some, analyst at Cantor Fitzgerald maintained a Hold rating on TriQuint Semiconductor with a price target of $5.00.

"We are estimating that TriQuint 2012 revenues will drop almost 9% y-y and mobile revenues will drop 17% y-y, marking the second straight year of market share losses. We remain on the sidelines until TriQuint can show sustained growth at/above the industry (which we estimate at 15% CAGR)," said analyst Dale R. Pfau.

For an analyst ratings summary and ratings history on TriQuint Semiconductor click here. For more ratings news on TriQuint Semiconductor click here.

Shares of TriQuint Semiconductor closed at $5.01 yesterday, with a 52 week range of $3.97-$7.26.

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