Needham & Company Downgrades TriQuint Semiconductor (TQNT) to Hold

Needham & Company downgraded TriQuint Semiconductor (NASDAQ: TQNT) from Buy to Hold.

Analyst N. Quinn Bolton commented, "With TQNT shares up 235% YTD in 2014, vs. 30.3% for the SOX Index and 15.1% for the NASDAQ, and trading above our prior price target of $27.50, or 12x CY16E non-GAAP EPS adjusted for the merger with RFMD, we prefer to move to the sidelines to see if the market presents an opportunity to buy shares lower in C1H15. We downgrade shares to Hold from Buy and remove our 12-month PT."

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 $27.95 yesterday.

You May Also Be Interested In

• BTIG Downgrades DermTech Inc. (DMTK) to Neutral
• Team17 Group Plc (TM17:LN) (TSVNF) PT Raised to GBP2.50 at Stifel
• Needham Reiterates Buy Rating on Amazon.com (AMZN), Raises Estimates