UPDATE: Canaccord Genuity Starts TriQuint Semiconductor (TQNT) at Hold; Stronger Margins Needed To Maintains L-T Growth

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(Updated - June 22, 2012 8:34 AM EDT)

Canaccord Genuity initiates coverage on TriQuint Semiconductor (NASDAQ: TQNT) with a Hold. PT $6.00.

Analyst, T. Michael Walkley, said, "We believe TriQuint Semiconductor has a leading portfolio of RFIC solutions and is well positioned for long-term growth trends. In fact, we believe the complexities of LTE networks and increased number of global bands should drive accelerating growth for the RFIC market, particularly for companies such as TriQuint that have industry-leading filtering technology solutions. While we believe TriQuint is potentially a compelling investment for longer-term investors, we believe it could take until 2014 for the company to diversify its customer base in order to grow sales and generate stronger margins to take advantage of its recently increased capacity."

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 $5.37 yesterday, with a 52 week range of $3.97-$10.84.

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